Technology startup reimagines fuel markets for 21st century
March 3, 2022
Gasology’s newly patented platform connects, empowers entire energy supply chain, from oil producers and refiners, to distributors, carriers, and consumers
CEO Joe LeBlanc describes tech startup Gasology’s motor fuels marketplace as the Travelocity of fuel purchasing, or Uber Eats of fuel delivery.
Those analogies are helpful, but don’t fully capture the platform’s expansive position.
To compare to Gasology’s comprehensive connectivity within the fuel marketplace more closely, Travelocity would need to include, and empower, competing travel agencies,
aircraft manufacturers and their suppliers, hotel construction firms, car dealerships, airport shuttles services and parking lots, drivers—and the list goes on.
“The story’s hard to tell,” LeBlanc conceded. “We encompass the entire marketplace for motor fuel, so we go from the people who make it, to the people who use it, and we’re not accustomed to that scope of participation. So we often have difficulty explaining the platform’s depth and breadth, because no one conceived it before.”
“That’s why we have a patent for it.”
Securing a patent, granted last October, was the latest step in the Louisiana-based company’s methodical approach to rolling out the transformative service LeBlanc first envisioned more than 20 years ago while trading energy commodities for major oil and gas companies like Shell, and honed as a professor at Tulane.
Their strategy started in the market’s middle, onboarding fuel distributors like Atlas Oil and trucking companies with their own storage tanks, like Linden Bulk Transportation—the first tank truck carrier to look into Gasology. Now they’re securing the oil producers and refiners, and fuel retailers, on both ends, with the ultimate goal of enabling individuals to buy fuel for delivery today, tomorrow, next month, or next year on their smart devices.
Gasology’s challenges include maintaining an ideal balance of buyers and sellers, and overcoming reluctance of legacy stakeholders firmly entrenched in an outmoded supply chain LeBlanc insists is ripe for disruption.
“As we put technology into the space, we’re seeing a lot of particular nuances, or operational components of the marketplace model, that are very antiquated, and in need of some fresh ideas,” LeBlanc said.
And, whether everyone’s ready or not, their all-inclusive future is coming.