Delivered-fuels smart-metering company, Tank Utility, wins grand prize valued at $200,000 this week at global competition of 200 cleantech startups.
SAN FRANCISCO – November 20, 2015 – Tank Utility, a leading provider of metering infrastructure for delivered fuels, has been named as the Grand Prize winner of the 2015 Cleantech Open National Accelerator Program.
The award – which includes $100,000 in cash as well as $100,000 worth of in-kind benefits – was announced yesterday at the final day of the Global Forum, where hundreds of cleantech entrepreneurs convened to meet with industry experts, venture capitalists, and alumni companies of the Cleantech Open Accelerator program.
The Cleantech Open was founded in 2005, and since then has worked with over 1,000 companies in the United States alone. The 2015 Global Forum showcased Cleantech Open U.S. regional finalists as well as finalists from six other countries. Tank Utility won the Cleantech Open Northeast regional competition in early November and moved on to the Global Forum with four other startups from the Northeast. Co-founder of Tank Utility Nick Mashburn said he was “honored” to represent Cleantech Open Northeast, an “incredible program with a great community”.
Amos Epstein, CEO of Tank Utility, called this year’s competition “strong.” The group of startups competing for the Grand Prize included businesses of all types; pure software, advanced materials, energy-specific financing, and more. Tank Utility was recognized by the judges for bringing a modern, internet-of-things solution to market in less than a year, and for the huge sustainability benefits that come from wringing waste out of the supply chain.
Tank Utility provides a low-cost, easy-to-install, internet-connected smart monitor for fuel tanks. The company sets itself apart from other monitoring solutions by providing secure mobile and web applications that allow fuel suppliers to reduce costs by providing real-time status, usage data, and transaction processing.
About Tank Utility
Tank Utility is a leading provider of metering infrastructure for delivered fuels. Tank Utility’s offerings include internet-connected monitors for fuel oil and propane tanks, cloud-based software and services to help distributors reduce delivery costs, and mobile apps to better connect consumers with their energy providers. Backed by Bolt and a member of Greentown Labs, Tank Utility is just over 1 year old and was founded by several former employees from EnerNOC, a leading energy intelligence software company. For more information, visit www.tankutility.com, or follow us on Twitter at @tankutility.
About Cleantech Open
The Cleantech Open runs the world’s largest cleantech accelerator. Its mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Since 2006, through its one-of-a-kind annual accelerator and mentorship program, over 1,000 participating companies in the United States alone have raised a total of more than $1.1BN and created thousands of jobs. Fueled by a global network of more than 2,000 volunteers and sponsors, the Cleantech Open unites the public and private sectors in a shared vision for making the cleantech sectors a thriving economic engine around the world. For more information, visit www.cleantechopen.org, or follow us on @cleantechopen and Facebook.