Trust Exchange has been evaluating the Underground Storage Tank (UST) compliance monitoring industry very carefully – in order to determine the market opportunity. We started with the EPA, both literature review and face to face interviews. The takeaway from this is that the lawyers at the EPA are continuously amazed at continuous stream of stiff penalties they levy for non-compliance with UST regulations. From the EPA’s point of view, the UST requirements are well laid out and easy to understand. There is an obvious market need that is not being addressed
There are compliance monitoring services and platforms targeted at the UST market. This leaves us to ask why the EPA is being kept so busy. Interestingly, the EPA is restricted in that they cannot advise a non-compliant operator “how” to fix the UST offense, or “who” to hire to help fix the problem. The offender needs to seek out an engineering or consulting firm to assist them into compliance on their own. Regardless, the damage is done. Single station operators with the standard three or four tanks commonly draw fines in excess of $30,000.
Is this you, even if you haven’t been caught yet? We want to know what keeps you out of compliance. Here’s what we’ve learned so far:
· A compliance monitoring service is too expensive.
· A compliance monitoring platform has a difficult learning curve.
· We have the right tools, but at some point we forgot.
· The automatic tank gauging system produces a small slip of paper that we lose.
· We didn’t know (often the case in family-owned businesses).
Are you an engineer or scientist that serves this market? You are commonly the single source of advice for the UST operator. What keeps your clients from installing a compliance monitoring platform or hiring a third-party service? Here are our thoughts:
· A compliance service or built-in platform is cost prohibitive for the smaller operator.
· Current platform offerings tend to cater to larger operators.
· Current platform offerings are narrowly focused – UST monitoring and inventory only.
· Electronic storage of required documents needs to be easier.
· Petroleum storage isn’t the only compliance task an operator has.
We want to talk to you. What does the market need to fill the obvious gaps? Please contact us HERE and we'll reach out.