Generac invests in Boston fuel monitoring firm

Companies to develop app together

Generac's headquarters in the Town of Genesee

Waukesha-based Generac Holdings Inc. announced Tuesday it has made an equity investment to become a minority shareholder in Boston-based Tank Utility, Inc.

Generac's headquarters in Waukesha.
Generac’s headquarters in Waukesha

Tank Utility is a provider of propane level monitoring services. The two companies plan to enter a separate commercial relationship to develop an app-based solution for monitoring propane tank levels. The product would interact with Generac’s MobileLink monitoring platform and allow customers using propane powered generators to better monitor fuel levels.

Aaron Jagdfeld, Generac president and chief executive officer, said the partnership would give customers real-time data on fuel levels and remaining run time.

“We’ve been very impressed with the Tank Utility team and are excited to both invest in their future potential growth and bring a product to our customers that satisfies a need in our monitoring solutions platform,” Jagdeld said.

Amos Epstein, Tank Utility co-founder and CEO, said home standby generators are a perfect fit for remote monitoring and the company is looking forward to working with Generac.

The two companies plan to unveil their propane level monitoring system in 2017.

Additional terms of the investment were not disclosed.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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