Simple-Fill Secures $1.7MM in Funding and Strengthens Partnership with Parker Hannifin Corporation
COLUMBUS, Ohio (PRWEB) March 06, 2018 -- Today Simple-Fill, provider of innovative technology that compresses natural gas in a more efficient, reliable and affordable way, announced it is deepening its partnership with Parker Hannifin Corporation, the global leader in motion and control technologies. The agreement will allow Simple-Fill to leverage Parker’s engineering and manufacturing capabilities to further develop and fulfill orders for its next generation CNG re-fueling technology. Simple-Fill also announced it has secured approximately $1.7MM in additional funding led by Worthington Industries and joined by Rev1 Ventures and The Ohio State University’s Carmen Innovations Fund and several angel investors.
With this financing, Simple-Fill will focus on developing its 40 GGE compressor that will reduce the time to fuel fleet vehicles 10-fold, while reducing the cost of compression, one of the most significant barriers to the widespread adoption of CNG.
“We see strong synergies with Simple-Fill’s go-to-market strategy using the 40 GGE compressor, especially given the company’s recent success at Safelite,” said Mike Smerdel, general manager of Parker’s Tube Fittings Division. “Parker and Simple-Fill have been working together developing Simple-Fill’s compressor technology for CNG refueling. Parker already manufactures many of the components on which Simple-Fill’s technology relies. As paired with Parker’s hydraulic and fluid handling expertise, it is a natural fit.”
“This collaboration and investment will allow us to further deliver on the promise of providing the market with a more efficient way to power the world’s vehicles,” said Rob Underhill, CEO of Simple-Fill. “The support of these powerhouse companies from Parker Hannifin to Worthington, Rev1 and Ohio State, is a pivotal moment for Simple-Fill and provides us the ability to further innovate our platform.”
Unlike conventional compression methods, Simple-Fill uses liquid to compress, cool and dehydrate natural gas, while eliminating methane leakage. Since natural gas prices are more stable and therefore more predictable, this technology offers a more reliable alternative fuel for companies today.
The Simple-Fill technology is already being used by the Safelite AutoGlass® facility in Worthington, Ohio. The largest vehicle glass repair and replacement company is leveraging Simple-Fill to reduce operating expense with a more predictable and environmentally friendly fuel to power their commercial fleet.
“The efficiency of Simple-Fill’s process and success to date is impressive," said Erin Gilchrist, Safelite’s Director of Fleet. “Our experience was positive, and their vision nicely aligns with Safelite’s commitment to innovation.”
About Simple-Fill
Simple-Fill is changing the way vehicles are fueled with an innovative technology that compresses natural gas in a more efficient, reliable and affordable way. Leveraging liquid to compress, cool and dehydrate natural gas, Simple-Fill has eliminated the complexity and cost of traditional compression methods, enabling more industries to take advantage of these groundbreaking capabilities. Unlike gasoline or diesel, natural gas prices are more predictable and therefore, businesses can better forecast transportation costs. In addition to being more cost effective, Simple-Fill’s technology helps companies using fleet vehicles to improve their carbon footprint and evolve with the future of fuel. For more information, visit http://simple-fill.com.
About Parker Hannifin Corporation
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For 100 years the company has engineered the success of its customers in a wide range of diversified industrial and aerospace markets. Learn more at http://www.parker.com.
About Safelite AutoGlass
With more than 7,800 MobileGlassShops™ and stores in all 50 states, Safelite AutoGlass® is the nation’s largest provider of vehicle glass repair and replacement services. Last year 6 million customers chose Safelite AutoGlass for its 24/7 national contact centers, advanced online scheduling, superior repair and replacement systems, and the industry’s only nationwide lifetime guarantee.
Safelite AutoGlass is a member of the Safelite® Group family of brands, which together, make a difference in the lives of 10 million customers annually. This leading service organization, founded in 1947, is reaching record-growth thanks to its People Powered, Customer Driven strategy. The Columbus, Ohio-based company employs nearly 14,000 people across the United States.
AIMEE EICHELBERGER, +1 3129521528, [email protected]
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