Dynamon: Driving savings through big data
Transportation companies could be significantly reducing their expenses through the use of fuel saving products. Although technologies exist which can make vehicles run more efficiently, without compelling evidence of the results, uptake has been limited.
The average heavy goods vehicle burns through about £43,000 of fuel every year in the UK. Companies are often run on tight margins, so fuel savings can have a major impact on businesses’ profitability.
Angus Webb, a Royal Academy of Engineering Enterprise Fellow at the University of Southampton, is aiming to start a “global revolution in fuel saving” through his spinout company Dynamon.
Since completing an Engineering PhD in Southampton which spurred British athletes on to Olympic glory, Angus has been developing algorithms which automate the analysis of fuel consumption data in ships and heavy good vehicles. The result is an analytics product that can help the logistics industry make informed decisions to trigger significant savings through fuel efficiency.
Improved aerodynamic, advanced vehicle limiters, driver training, hybrid and electric engines, weight savings and tyre modifications are all available as fuel saving products on the market – what companies need to know is which investments are right for them. Half a million heavy vehicles are on our roads using seven billion litres of fuel annually. Reducing this sum by just a fraction could signal major savings for the transportation industry.
“We need to help companies quantify expected fuel savings, and the solution to this lies in analysing the data,” Angus says. “The products we’ve built use telematics data which is collected from black boxes inside each vehicle. The telematics data gives us information about a vehicle’s performance, like how it’s being used and the environment around it.”
Dynamon is developing its analytics to enable transport companies accurately benchmark their performance against industry norms and to receive bespoke fuel saving investment recommendations. The tool predicts savings for any combination of vehicle and product, making it easy for logistics companies to decide which product to invest in.
“We’re already working with a national bus operator and a fuel additive supplier,” Angus says. “The results from this trial will be used to market the fuel additive to other customers.”
Dynamon’s analytics are web-based and accessible to companies all over the world.
Dynamon is currently supported by the Royal Academy of Engineering. Dynamon has recently raised £150,000 of seed funding to develop its analytics and increase pilot customer traction. A further £300,000 – £500,000 will be raised in spring 2017 to ramp up sales.
If you’re an investor with experience in the logistics industry, you can reach Angus using the contact form on this page.
“Dynamon can help vendors of fuel saving products inform customers how much they will save and empower vehicle operators to measure the performance of their vehicles and drivers,” Angus says. “Please get in touch and we can start a global revolution in fuel saving.”