Senet, a provider of cloud-based software, global connectivity service platforms and network build-outs for the Internet of Things (IoT), announced that it has entered into a definitive agreement to sell its fuel delivery and monitoring solution, EnerTrac, to the WESROC division of Independent Technologies.
After building EnerTrac into an industry productivity enhancing solution for the propane and heating oil tank monitoring markets, Senet is ideally positioned to deliver the solution to a company in a strong industry position to significantly increase market penetration and further advance its value in the tank monitoring market.
As part of the agreement, Senet will provide critical network connectivity and build out services to WESROC, on an exclusive basis, as the company expands its portfolio to include LoRaWAN monitors and low cost, long range LoRaWAN connectivity.
EnerTrac optimises delivery efficiency by using affordable monitors to capture customer fuel tank levels throughout the day. This data is transmitted over the Senet network directly to the customer’s back-office software as actionable intelligence. Companies use EnerTrac to save on fuel delivery costs, more accurately forecast fuel usage, reduce the carbon footprint of their delivery fleet and to improve their overall customer experience.
“We’ve gained significant knowledge from building the EnerTrac solution from the ground up and have leveraged those learnings to assist in the development of other highly scalable, secure and cost effective IoT connectivity platforms and applications,” said Senet CEO Bruce Chatterley.
“Following this sale, we look forward to a strong and long-lasting partnership with WESROC, providing them with LoRaWAN connectivity solutions to help expand and grow their tank monitoring product line in North America and around the world.”
WESROC has a broad range of monitoring solutions that are adaptable to the specific needs of companies that store and distribute propane and refined fuels, with capabilities to measure, monitor, track and report. The company has a reputation for strong engineering and excellent customer service, while manufacturing high quality, durable and reliable hardware.
“The acquisition of EnerTrac further establishes Independent Technologies as the industry leader in tank monitoring systems,” said Hank Smith, CEO and president of Independent Technologies. “This is a significant addition to our product line which allows us to fit nearly any need or budget. We look forward to working with Senet to expand deployments of the EnerTrac solution and to meet the growing demand for automated tank monitoring solutions in North America and around the world.”