BOSTON – June 26, 2015 – Tank Utility, a leading provider of metering infrastructure for delivered fuels, has been awarded a $40,000 Catalyst grant from the Massachusetts Clean Energy Center (MassCEC). The award was announced today after several months of judging by experts from the venture capital, energy, and clean tech sectors. The award is designed to support the technology developments of Massachusetts’ best early stage clean energy companies.
Tank Utility has developed smart meters for propane and fuel oil tanks; and applications to eliminate unnecessary truck rolls for fuel suppliers. The Catalyst grant will support Tank Utility in developing commercial software for benchmarking, baselining, and analysis of historically hard-to-collect usage data for stored fuels.
“We’re lucky to be located in one of the most supportive communities for cleantech innovation. We are thrilled that MassCEC shares our vision for helping consumers understand their energy usage and form better relationships with their energy providers” Said CEO, Amos Epstein.
“Fuel suppliers who use tank level data are able to streamline operations, cutting their number of deliveries in half.“ says co-founder, Nick Mashburn. “Our hardware is easy to justify for the supply industry with just a one year ROI – especially when you factor in the potential customer churn resulting from run-outs.”
In the electricity sector, smart meter data has been visualized and contextualized by companies like Opower to empower consumers to use energy more intelligently. This not only saves the average user money, but the consumer is more engaged with their supplier.
“With residences and businesses using a mix of oil, propane, or electricity for heat, it’s hard to keep track of. Especially when the bills come at odd intervals in the case of fuel deliveries.” Commented Mashburn. “There’s a big opportunity here beyond the delivery cost savings for the suppliers.”
Tank Utility is a leading provider of metering infrastructure for delivered fuels. Tank Utility’s offerings include internet-connected meters for fuel oil and propane tanks, cloud-based software and services to help fuel distributors reduce delivery costs, and mobile apps to better connect consumers with their energy suppliers. Tank Utility is less than 1 year old and was founded by several former employees from EnerNOC, a leading energy intelligence software company.