As of the most recent check in the morning session, Spectaire Holdings Inc. (NASDAQ: SPEC) stock was up 16.92% to trade at $2.84 on US charts. The increase in Spectaire shares follows a move toward European growth.
In order to introduce the state-of-the-art AireCore emissions testing system to the European trucking industry, Spectaire (SPEC) today announced a strategic distribution deal with MLab, in conjunction with their service and distribution partner Mosolf.
With this collaboration, Spectaire will be able to launch AireCore systems throughout Europe by utilizing MLabs’ network and Mosolf’s experience in transportation, sales, service, and distribution. This partnership is expected to transform pollution monitoring in an industry where trucks account for over 80% of all land freight movement inside the European Union.
For Spectaire’s technology, the European commercial transportation industry offers a huge potential. Important data, such as the fact that trucks account for about 80% of land freight transport in the European Union, demonstrate the scale and potential of the business.
Additionally, statistics showed that there are around 6.5 million trucks in the EU’s fleet. More than 500,000 vehicles were produced in the EU in 2022, and 50% of heavy trucks made in the US come from European manufacturers. Europe has an average truck age of 14.2 years, suggesting a substantial opportunity for modernization and new technology.
The employees of Mosolf and MLab have executive positions in a number of European trucking groups, assisting trucking businesses in getting ready for the more stringent emissions standards outlined in Euro 7. With this agreement, SPEC hopes to quickly provide AireCore to the European trucking industry, since Spectaire is the only company that can really meet the demands of RDE (Real Drive Emissions), a crucial aspect of Euro 7. Years ahead of Euro 7 regulations, Spectaire can now provide fleets with the vision of real driving emissions.
In order for MLab and Mosolf to accomplish the objectives of environmental sustainability, Spectaire is an essential partner. The firms aim to improve operational efficiency and environmental sustainability by providing AireCore to transportation companies in Europe who share similar values.
