The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight the latest developments for U.S. Xpress’ brokerage unit, Proterra’s debut as a publicly traded company and more.
The High Five
1. U.S. Xpress announced more details on its brokerage unit, Xpress Technologies. The digital platform is designed to remove friction from freight brokerage and “make goods move better every day.” Todd Maiden’s story
2. A California-based plastics resin logistics company is bringing 50 jobs to the new $75 million Cedar Port Logistics Center near Port Houston. Plastic Express Inc. will occupy 100% of the first of three buildings planned at the logistics center.Noi Mahoney from Texas
3. Electric bus and battery maker Proterra Inc. begins its life as a publicly traded company Wednesday, ringing the bell on the Nasdaq as it collects a $640 million payout from its special purpose acquisition company sponsor. Alan Adler’s story
4. Supply chain traceability and CO2 tracking technology provider Circulor has closed a $14 million Series A funding round. The company is planning to use the funds from the “significantly oversubscribed” round to invest in expansions in North America and Asia. Alyssa Sporrer’s report
5. Kansas City Southern’s chief financial officer says a merger with CN offers “financial flexibility and freedom.” Meanwhile, Canadian Pacific circulated a letter from SMART-Transportation Division that expresses concerns about CN’s proposed acquisition of KCS. Joanna Marsh with more