Breaker breaker 10-4 good buddy. We got Fueloyal on your tail coming up off the exit. This robotic fuel cap essentially keeps track of the fuel poured into your vehicle independently of the truck itself and lets fleet owners ensure they no one is stealing the fuel poured into their 18-wheelers.
Called the iCap 1000, the system fits into your Class-A truck gashole and tracks the gallons poured. The system is tamper-proof and sends the data back to your home office via Wi-Fi. It is self-powered and can be removed in minutes.
Founded by Igor Hristov and Jurica Magoci, the company is based in Chicago. The team also found Roadmiral, a fleet management system.
“In challenging economic times like we are having in the last few years it is important to reduce cost of business and to be more efficient. That is the reason we started this company. With load prices going down and fuel prices going up it’s important to control costs,” said Hristov.
The product is being built now and will be assembled in the EU. The team plans on shipping in four months.
“We have preorders worth $320K and distributor agreement signed with one large US truck leasing company. Based on the increasing preorders and feedback we are estimating that in first year upon launching we will have signed contracts in total value of $3 million,” said Hristov.
Fueloyal is unique in that you don’t have to modify the tank in order to gather the data. Because it fits right into the gas inlet and measures the gas poured into the vehicle and prevents siphoning. “Company owners can install it on the fuel tank in less than a minute. It cannot be removed without the security key, and if unauthorized removal occurs the system will ‘alert’ headquarters,” he said. Now if they can just keep truckers from getting road hypnosis or getting picked up by Smokey then we might have something special.