A profitable existing company is going to a new stage of growth, with a new name and fully web-enabled extension of their business model. Acting directly on behalf of buyers of liquid petroleum fuels, they monitor (wireless/internet) the level of fuel in the customer’s tank, optimize fuel purchasing, and arrange delivery, taking a fixed fee per gallon delivered.
As a result, the customer:
– No longer has to manage their own fuel tank inventory
– Is assured that tanks will never run out of fuel
– No longer needs to negotiate decentralized contracts or daily pricing
– Can leverage their volume through TeamFuel purchasing power
– Is guaranteed the lowest possible price and optimal delivery of their fuel
They already have several major utilities as satisfied clients (APS, PSEG, SoCalEdison, ) and provide them with either fleet fuel or generation fuel.
The teamfuel.com website will be up in another week or two. Dynamic Inventory Management actually occurs on password protected intranet sites, one for each client.
They are seeking equity investment in two rounds, one now and the second next year, to scale up their software/server capabilities and add sales and marketing staff.
An executive summary and business plan are available for possible investors. New customer contacts are also more than welcome. If you’d like more information, contact
Bill Green, CEO firstname.lastname@example.org 415-381-2783
Here is a brief summary posted on garage.com (a new silicon valley company supporting startups by providing access to angel and venture investors http://www.garage.com)
Each year U.S. commercial vehicle fleets, utilities, railroads, and airlines spend more than $100 billion on fuel. This fuel is stored in and distributed via a network of 200,000 tanks, which range in size from 10,000 gallons to over 100,000 gallons. The variable consumption patterns of these tanks – along with environmental compliance laws, interstate fuel tax calculations, and fluctuating fuel prices – make the procurement and management of fuel for these tanks a time consuming and expensive proposition for tank owners. TeamFuel provides an outsourced fuel management solution that acts as a intermediary between the thousands of local fuel suppliers and the tanks they service.
TeamFuel’s software and remote monitoring solutions optimize fuel purchases (via demand aggregation and market timing), resolve complex environmental and tax issues, and deliver guaranteed savings to fleets and tank owners. Unlike FuelQuest, which is a marketplace for suppliers, and FuelMan, which focuses on over-the-road fuel purchases by truck drivers, TeamFuel addresses the needs of fleets and tank owners.
TeamFuel’s dynamic inventory replenishment strategy is currently used by Walt Disney, Frito-Lay, Laidlaw, Southern California Edison, Toys “R” Us, Arizona Public Service, and 65 other companies. These customers have signed long-term management contracts, with a fixed fee per gallon, for TeamFuel’s services. The Company profitably generated revenues of $1.2 million in 1999. 2004 revenues are projected to be $88 million.
TeamFuel’s management team and 12-person staff have deep experience in the fuel and energy industry. The Company’s CEO previously founded a chemical exchange and has extensive experience in supply chain management. The founder and President of TeamFuel has been involved with fuel procurement outsourcing for more than 20 years.