Tank Utility, a Massachusetts-based developer of a propane tank monitor that uses a smartphone app, has won the Northeast Regional Finals for the Cleantech Open.
Cleantech Open is the largest accelerator of clean tech startups. Tank Utility’s win was decided Monday night and carries with it a prize of $15,000 in cash and additional in-kind support. As a regional winner, Tank Utility will advance to the Global Cleantech Forum in San Francisco November 17-19, gaining worldwide recognition and competing for $200,000 in cash.
Tank Utility described its win in a press release. “This week’s competition included pitches from more than 30 regional contestants, culminating with the judges choosing eight finalists to give 10-minute pitches for the final decision. The judges evaluated the contestants based on their ability to succeed as a scalable business as well as their ability to create a more environmentally sustainable economy. They were persuaded that Tank Utility has found a viable business model to address an acute market need.
“Tank Utility pitched a value proposition for smart metering and software technology in the delivered fuels industry. The evidence presented proved that creating an industry standard of tank level monitoring will earn money for fuel suppliers and cut carbon emissions by avoiding unnecessary fuel deliveries.
“Furthermore, Tank Utility’s mobile apps dramatically improve the sentiment of fuel consumers toward their suppliers, significantly increasing customer retention and lifetime value. Tank Utility’s market traction proves the fuel supply industry is ready for creative new approaches to solve these critical challenges of delivery logistics and customer retention.”
Click here to read a 2015 Oil & Energy article about Tank Utility.