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Startup aims to relieve a $10B headache for trucking industry

Sep 28, 2016 at 02:21 PM CST

A tech startup is looking to tackle a $10 billion problem for trucking companies: fuel theft.

Chicago-based Fueloyal has developed a “smart fuel cap” for 18-wheeler rigs called the iCap 1000. The 3G-networked gadget prevents thieves from siphoning diesel out of tanks — and, more importantly, prevents drivers from stealing it at the pump.