Ryder Honored at Inaugural Miami Inno Fire Awards for Its Innovative Vehicle Sharing Platform

COOP by Ryder® recognized by The South Florida Business Journal as a leader in innovation within South Florida

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation and fleet management solutions, announces its selection as a Miami Inno Fire Awards honoree by The South Florida Business Journal in recognition of the company’s peer-to-peer truck sharing platform, COOP® by Ryder. The award recognizes startups, established companies, accelerators and community organizations who are reshaping the innovation ecosystem across the South Florida region.

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Romain Rousseau (center), vice president for COOP by Ryder accepting the Miami Inno Fire Award from Mel Mélendez, editor-in-chief for South Florida Business Journal and Cristian LaCapra, senior vice president for Northern Trust and corporate event sponsor. (Photo: Business Wire)

The program celebrates 25 of the fastest growing and impactful entrepreneurs and companies that have demonstrated a commitment to innovation within local communities. This recognition is awarded by the South Florida Business Journal based on several factors: new funding, social and community impact, product launches, company pivots, employee growth, and business expansion.

“Since our initial launch in South Florida, we’ve seen the value this platform offers our customers, whether in generating revenue needed to cover their costs on idle vehicles or for sourcing additional capacity,” says Romain Rousseau, vice president for COOP by Ryder. “COOP is part of the solution to these challenges and it’s why we continue to innovate and make updates to COOP’s vehicle-sharing services. It’s a first-of-its-kind digital marketplace and we’re very proud to support hundreds of businesses in Ryder’s home state of Florida.”

COOP by Ryder is the largest commercial vehicle sharing platform, connecting fleet owners with idle vehicles to trusted businesses in need of rental vehicles. To date, more than 14,000 businesses have joined the program, with COOP experiencing 250% year-over-year growth since its inception. In 2019, COOP expanded into the South Florida market to serve the Port of Miami, one of the largest ports in the U.S. and a hub for global commerce, as well as local businesses in need of rental vehicles. In February 2022, Ryder expanded the program across all 50 states.

“South Florida Business Journal’s inaugural Miami INNO Fire Awards provides us the platform to publicly recognize the innovators, entrepreneurs and established companies in the region who are truly impacting the technology ecosystem that so many have strived to grow over the past three decades,” says Melanie Dickinson, president & publisher, South Florida Business Journal.

Since its launch in 2018, COOP has introduced numerous platform enhancements, including the rollout of a mobile application, on-demand liability insurance and downtime coverage, Ryder’s 24/7 roadside assistance, advanced user ratings, and access to revenue reports and fleet analytics. COOP has also increased its employee headcount from a small team of five members four years ago to more than 95 employees and is growing to support the nationwide expansion.

Businesses interested in joining the program can sign up on COOP.com or via the mobile app to rent or list vehicles on the platform.

About COOP® by Ryder

COOP by Ryder™ is the largest commercial vehicle sharing platform, connecting fleet owners with idle vehicles to trusted businesses in need of rental vehicles. COOP is available on COOP.com or as a mobile app in the iOS and Android app stores.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 239,000 commercial vehicles and operates more than 330 warehouses, encompassing more than 80 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations with respect to the capabilities and performance of COOP, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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