BOSTON – August 20, 2015 – Tank Utility, a leading provider of metering software and infrastructure for delivered fuels, has partnered with hardware-focused venture capital firm Bolt. The partnership was announced today and is focused on accelerating Tank Utility’s hardware development and manufacturing.
Tank Utility provides smart meters for propane and fuel oil tanks, as well as software to improve the customer relationships and business operations of companies delivering fuel. Partnering with Bolt immediately adds a wealth of product design and manufacturing expertise to the Tank Utility team.
“We are thrilled to be working with Bolt” said CEO, Amos Epstein. “We are always looking for ways to produce a better product and putting our heads together with a team that has shipped millions of finished products is a great opportunity.”
Ben Einstein, Founder and General Partner of Bolt, adds “Tank Utility’s service-based hardware business, quick progress, and hunger to continue accelerating makes them a perfect fit for our portfolio.”
In the electricity sector, utilities and companies like Opower use smart meter data to manage their business and better connect with their consumers. Until now, fleet-wide visibility of tank levels hasn’t been available to delivery companies — driving out to a house and shoveling a path to a propane tank only to find that it’s still near-full is still a common occurrence.
Nick Mashburn, co-founder and CIO of Tank Utility, says “our devices have to survive the worst conditions so that our customers can focus on what really matters; running their businesses and making sure no one loses their heat.”
Tank Utility is provides 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 homeowners with their energy suppliers. Tank Utility has been operating for one year and was founded by former employees from EnerNOC, a leading energy intelligence software company.