- New solution to offer enhanced durability and consistent dimensional accuracy, IoT tracking, and per-trip or activity-based pricing
- PalX team is composed of deeply experienced leaders from both whitewood and pooling sectors
- One national dairy account has been secured, with letters of intent signed with several national food and beverage brands
- PalX pallets are produced using US domestic suppliers that have SFI (Sustainable Forestry Initiative) certification
A group of pallet industry veterans has come together to launch Pooling and Logistics Experts (PalX), a new pallet pool in the United States. The team is comprised of recognized leaders and experts in white-wood pallet management, rental pallet programs, and the technologies surrounding these operations. The PalX pallet is a premium quality, IoT-enabled block pallet, painted green, and produced by SFI (Sustainable Forestry Initiative) certified producers.
According to Steve Mazza, PalX CEO, the company believes that pallets are the only end-to-end solution that integrates the entire supply chain and is the next digital revolution in a technology platform. The PalX pallet will provide companies with actionable insights through near real-time data retrieval, KPI dashboard interfaces, and unprecedented visibility into a supply chain that is truly digital at a granular level. That granularity will provide the flexibility to provide activity-based as well as per-trip pricing.
PalX pallets are equipped with LoRa technology. LoRa (short for long range) is a spread spectrum modulation technique derived from chirp spread spectrum (CSS) technology. LoRa devices and wireless radio frequency technology is a long-range, low-power wireless platform that is the de-facto wireless platform of the Internet of Things (IoT), according to Semtech Corporation.
”Our industry experience showed us that pallet management programs were incomplete, inefficient, and too complex,” stated Mazza. The PalX pallet design is enhanced compared to other current rental pallets, making it more durable and providing excellent dimensional accuracy to promote seamless usage in automated systems.” The company sees itself as having an important advantage in bringing new, higher quality, IoT-enabled pallets into the market, as opposed to existing rental and whitewood sectors dealing with aging pools and the task of retrofitting sensors on existing pallets.
Mazza is currently a Director of the National Wooden Pallet & Container Association, current Treasurer of Western Pallet Association and Pallet Foundation Trustee, and has over 35 years of experience in the white wood and pallet pooling industries. In that time, he built and directed one of the larger national pallet management companies in the United States. He is also the founder of an innovative pallet recycling company that has been operating in the northeastern United States for the last 30 years.
Other members of the team include:
- Elton Potts – co-founder, Board member PalX, former SVP Supply Chain & Asset Management Chep USA
- Stuart Lerner – co-founder, Board member PalX, formerly Bluechip Logistics, built over 50 million and repaired over 300 million pallets for Chep USA.
- John Huber – co-founder, Board member PalX, former founding partner PECO
- Michael Lamb – co-founder, Board member & CFO PalX, former President Chep USA
To date, the company has secured one national dairy pallet pooling account and has signed letters of intent with several national food and beverage brands. Mazza stressed that PalX will leverage deep relationships with the highly entrepreneurial U.S. pallet industry for the provision of scalable pallet manufacturing, logistics, and repair services.
The company raised $1 million from initial investors and will now move to a crowdfunding platform for its next cash infusion. “The combination of higher than GDP sector growth and conversion of one-way pallets to the sustainable pooling model, coupled with PalX’s improved pallet incorporating data capability positions PalX’s offer favorably in the market,” offered Michael Lamb, CFO of PalX. Lamb has over 25 years of experience in pallet pooling, food service, general retail and entrepreneurial businesses.
“When you invest in PalX on the Republic.co crowdfunding platform you receive an interest in the company, in the form of a security,” he continued. “That security is an agreement with financial terms between you and PalX in the form of a Crowd Safe. It represents your financial interest in PalX with a pool of other like-minded investors. Crowd Safes’ provide a return if the start-up goes through an IPO or gets acquired at a high valuation.
“Investors can start with as little as $100 up to $50,000 and there are certain “perks” offered at varying levels of investment dollars. We would encourage interested investors to view PalX crowdfunding raise on Republic.co/palx.”
Mazza explained that PalX pallets are produced using US domestic suppliers that have SFI (Sustainable Forestry Initiative) certification. According to SFI, 90% of the world’s forests are not certified. This means that SFI-certified manufacturers are practicing responsible forestry methods. The SFI program is a comprehensive system of principles, objectives, and performance measures that incorporate the growing and harvesting of trees with the protection of soil and water quality, wildlife habitat, plants and scenic beauty.
For more information, visit www.palx.io, and to invest, visit Republic.co/palx.