2nd Point Inc., Designated as One of Fortune Small Business 14 Hot Startups
March 4, 2003
Checking the oil and saving millions
Americans can't ignore it: We need to cut down on our use of oil. To help, George Dzyacky, founder of 2ndPoint, has developed a patented technology that lets refineries conserve fuel themselves. Drawing on his 25 years of experience in the petroleum-refining industry as a production supervisor for Amoco and BP, he developed software that monitors oil levels in refineries. The technology predicts when oil levels will surge and cause flooding. For a moderately sized refinery, that could mean recovering more than 90,000 gallons of oil every year. And that could result in cheaper gas at the pump.
2ndPoint's technology is still in the testing stagezyacky has a pilot plant at the University of Texas at Austin that serves as a prototype to show potential customers. Shell Global Solutions (U.S.) has invested $240,000 in his research. Combine that with other investments, as well as university and government grants, and 2ndPoint is working with $860,000 in funding. That may not sound like a lot of money, but it has taken the company far enough to attract attention from several potential customers.
Dzyacky has already started adapting his technology to other industries. Next up: using 2ndPoint to monitor blood-glucose levels and combat diabetes. Dzyacky, the father of a diabetic son, has presented the technology to doctors in Chicago. If he succeeds, 2ndPoint could prove to be a gusher.