Birmingham-based Guardfreight International has signed a deal with the Midlands Assembly Network (MAN) to bring a new locking mechanism to market, which hopes to prevent $80 billion (£52.5 bn) of cargo going missing every year.
The E-Containerlock will be fitted to shipping containers to provide location updates as well as immediate alerts if entry is forced, thanks to an in-built GRPS tracking system.
Guardfreight says it is ideal for preventing theft of goods and for insurance purposes, as you can prove the exact location of a tampering or break-in.
Designed by industry expert Andrew Harrison, a working prototype of the product has already been developed, a small batch of which is now to be trialled by worldwide freight monitoring agencies.
Harrison said: “It’s early days, but we’re confident that this solution will change the way cargo is transported, with our business plan showing a £16m turnover by 2018 and the possibility of creating up to 50 jobs directly and in the supply chain.”