Numerex Corp announced the PTCRB certification of nxTANK, a new LTE tank monitoring device operating on the LTE network. The PTCRB was established in 1997 as the certification forum by select North American cellular operators as a critical network testing framework for new devices. nxTANK uses sensors to remotely measure and communicate tank fill levels for lubes and fuels, petroleum products and other bulk liquids like water, chemicals and CO2 that are used in industrial applications. These tank monitoring solutions are typically delivered by national and regional distribution companies to their customers. To develop this product and complete the successful testing, Numerex brought to bear its extensive experience in device development, certification, and platform integration.
Berg Insight’s latest analyst report on the Oil and Gas Industry reports that the installed base of active oil & gas M2M devices is forecasted to grow to 1.12 million units by 2018. Berg Insight also anticipates that pipeline monitoring and tank monitoring will be the top two M2M/IoT applications in the oil & gas industry. Other market estimates conclude that just in North America alone, there are approximately 4 million unmonitored tanks across many different vertical markets, representing a significant opportunity for an Internet of Things remote tank monitoring solution.
Ken Gayron, Interim CEO and CFO for Numerex commented, “Numerex is excited to develop and certify a new LTE tank monitoring device. The nxTANK monitor with new LTE capability will further grow Numerex’s revenue and increase penetration into this expanding vertical market, bringing the cost of network services down while boosting profit and margin for our iTank managed solution.”
nxTANK LTE adds an additional tank monitoring product to Numerex’s already industry-leading remote monitoring device portfolio. nxTANK will integrate with the iTank™ solution, which allows remote monitoring of tank fill levels and configuration of delivery and distribution routes using an advanced, cloud-based IoT application.