5 Ways IoT Is Innovating The Tank & Storage Industry

Tanks and storage are one of the oldest, most fundamental industries to mankind, and the most recent to see a revolution through IoT Technology.  At the dawn of agriculture, tanks and storage allowed humans were able to store food during throughout the year, initiate commerce, and protect their assets.  Today, this age old technology helps protect everything from fuels and fertilizers to clean or waste water management. Innovators in the industry are using digital-twin IoT Technology to revolutionize this space 

Protect from theft.

Theft in the industry is rampant.  Victims include owners of personal storage tanks as well as industrial size tanks.  Siphoning assets from the tank is commonplace, with the Associate Press reporting that Mexico lost up to $3.5 billion in 2018 from siphoning of its oil tanks and pipes.  With IoT technology, real-time monitoring, and machine learning algorithms, you can know when someone is tapping into your assets. Algorithms that check abnormalities in flow, pressure changes, and other factors can indicate that someone is redirecting your investment elsewhere. 

Monitor the Linings. 

The steel shell of a tank is not the only critical element of the structure. Tank linings, often made with polyurethane or PVC, can be compromised too, and often need regular changing.  Using IoT technology, you can find out when your lining starts to leak, preventing valuable assets from being lost, as well as maintaining safety and regulatory compliance for your organization.

Watch for overflow.

Overflow is a hazard to be remote-monitored as well.  Tanks may be filled improperly and the dimensions of the tank can change with season and temperature.  An overflowing tank can cause leaks, loss of assets or even lead to fires. Remote-monitoring, standardized data collection and machine learning can help you better understand how third parties are interacting with you tanks, so you don’t need to be there monitoring in person.

Monitor for depreciation in the steel, leaks with EDGE-IoT.

The tanks themselves change slightly with the stress of seasons and weather. By using EDGE-IoT & AIoT (Artificial Intelligence of Things) connectivity, you can monitor the change in volume of the tank to see if the changes are attributed to cyclical changes in the tank because of temperature, or if a more hazardous leak has occurred. 

Watch for degradation in the contents of the tank.

Contents within the tanks can change over time.  Instead of sending a diagnostic technician to take samples year-round with expensive lab tests, use a real-time remote monitoring to check to see whether the what you put in the tank months ago, is what you’re getting back out of the tank when it comes to delivery.  Factors like climate change, seasonal temperature variation, or small contaminants can all affect the value of what is stored in your tanks.