Latest innovation provides additional revenue to participating retailers and distributors, and helps them to reduce Greenhouse Gases
ORLANDO, Fla. – July 8, 2008 – Intelligent Global Pooling Systems (iGPS Company LLC), operator of the world’s first all-plastic pool with embedded RFID tags, has added yet another innovation to the pallet rental industry—“iDepots,” a new concept that results in lower cost and increased revenue for participating retailers and distributors.
Pallet receivers who choose to become iDepots agree to sort and inspect iGPS pallets and have them ready for pick-up and shipment to another user. In exchange, iDepot operators receive a per-pallet handling and inspection fee from iGPS, making it highly attractive financially. This is the first significant change in the logistics of pallet rental in decades.
“This is a win-win situation,” said iGPS Chairman and CEO Bob Moore. “Because our revolutionary all-plastic pallets are so durable, it is unnecessary to transport them to an inspection and repair facility after each use, as is required for wood pallets. This extra leg in the supply chain is costly, inefficient and generates large quantities of greenhouse gases. Participating retailers and distributors not only help their bottom lines but also help the environment as well. The superiority of our pallet makes it all possible.”
“We set out to make a better pallet and a more efficient supply chain,” said Moore, “and iDepots are another key milestone. We are delighted that we can take cost out of the supply chain and enable our customers to help the environment too.”
In just two years, iGPS has revolutionized the way goods are being shipped throughout the US supply chain. Its all-plastic RFID and bar code enabled pallet meets all GMA requirements, weighs 30% less than typical multi-use wood pallets, is UL 2335 certified fire-retardant and 100% recyclable. Many of America’s top companies now ship on iGPS pallets, including QTG (Quaker Tropicana Gatorade), the Chicago-based division of PepsiCo, Dole Fresh Vegetables, Imperial Sugar, Pilgrim’s Pride, Martori Farms and other top-tier brands.
About iGPS
iGPS is the world’s first company to provide manufacturers and retailers with an all-plastic pallet pool with embedded RFID-tags. iGPS’s state-of-the-art pallets are 30% lighter than wood, which saves on transport costs, are easier to handle and eliminate protruding nails and splinters that cause workplace injuries and damaged equipment. In addition, embedded RFID tags enable shippers and receivers to track and trace shipments in real time. Launched in March 2006, the company is led by pallet and supply chain veterans with decades of experience. iGPS (www.igps.net) is headquartered in Orlando, FL., with offices in Dallas, New York and Bentonville, Arkansas.
Pegasus Capital Advisors, a private equity fund manager with offices in New York and Cos Cob, CT, retains a majority interest in iGPS. Founded in 1995, Pegasus provides capital to middle market companies across a wide range of industries, with particular focus on businesses that make a meaningful contribution to society by positively affecting the environment, contributing to sustainability and enabling healthy living. www.pcalp.com
