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Sep 29, 2016

SOLVING FUEL THEFT * USA: Startup developed a “smart fuel cap” for 18-wheeler rigs

* Illinois - Modal Trigger Startup aims to relieve a $10B headache for trucking industry

(Video by Fueloyal Technology - May 4, 2015: Fueloyal iCAP 1000 Product Presentation) 

---  Chicago-based Fueloyal has developed a “smart fuel cap” for 18-wheeler rigs called the iCap 1000. The 3G-networked gadget prevents thieves from siphoning diesel out of tanks — and, more importantly, prevents drivers from stealing it at the pump... “To be honest, the biggest problem is stealing by the truck drivers themselves,” said Fueloyal founder George Magoci, who has been developing high-tech truck software for the past five years. “Instead of putting fuel in their truck, they’ll use the company card to put it in another truck at a discount and take the cash” ... At Fueloyal, which wants to put a lid on the black market for diesel fuel, the iCap 1000 can precisely measure the gas going into the truck’s tank while checking it against what’s coming out of the pump through a real-time, 3G-networked connection... In addition, the $299 gadget — which requires a $39-a-month data plan — can scout out the truck stops with the cheapest fuel, automatically planning stops based on price, location and how much fuel is in the tank at any given time... Soal Trucking, a Bloomingdale, Ill., outfit that operates about 20 rigs across the lower 48 states, has cut its monthly fuel costs — which can run upwards of $10,000 per rig — by at least 2 percent to 3 percent since it installed the iCap 1000 several months ago, said Vice President of Operations Jonas Kaminskas... “Most truckers are good people, but we had three incidents last year,” Kaminskas said... In two cases, he says bystanders called him about truckers selling excess fuel at truck stops for cash... 
Chicago, ILL, USA - NY Post, by James Covert - September 27, 2016

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