Using Sun To Cut Fuel Costs For Truckers
There is an angel fund out of Naples that has been able to add a bit of sunshine to their portfolio. The Tamiami Angel Fund II has closed on their ninth portfolio company by investing $250,000 into eNow, Inc, which is a company that is five years old out of Warwick, Rhode Island that works to develop solar powered systems for the industry of transportation.
The latest product is a solar powered system to cut down on the idling costs for heavy vehicles and trucks. Fuel costs happen to be one of the largest expenses of a fleet operator, according to Jeff Flath, who is the president of eNow.
Truckers will idle the engine to keep the block warm to help with heating and cooling the cabin as well as operating the gates. Using engines in this manner will consume a lot of diesel fuel per hour and it can actually make up about eight percent of the total use of fuel. We have a product that is able to help customers to cut down on the costs of operating a trucking fleet by giving a less expensive alternative in a solar based system for energy.
ENow also works by helping to charge the vehicle’s auxiliary battery. This helps to eliminate idling and can save between $8,000 and $12,000 worth of operational costs while also cutting back on wear and tear on motors along with emissions.
In a report last year put out by Ohio State University and their Center for Automotive Research, they went so far as to back the fuel economy claims of eNow.
Funding that comes from the Tamiami Angel Fund will help to give the company a way to expand their market and continue with product development and product testing. There are new panels in development that will help to give power for air conditioning within sleeper trucks.
One member of Tamiami Angel Fund, Bud Stoddard, stated that the energy management system for eNow has been one of the most advanced on the market today and it is a great investment for the fund as they are now able to transform the transportation industry as we know it.
This angel fund is a member managed and invests in early stages with the expansion of domestic commercial ventures. Along with other investments, there are companies that will prepare meal plans with fresh food, build sales motivation tools and work toward automating UPS and FedEx late shipment refunds. While deciding which companies should be invested in, great consideration is given to Florida companies. This is a fund that is part of the Angel Capital Association out of Leawood Kansas and part of the Venture Forum, which is out of Tampa.