Additech

About Additech

In 1989, a company called Additech was founded with a unique idea for the gas station forecourt. The concept was to create an automated system that allowed drivers to add fuel additives directly to their tank at the pump, eliminating the need for separate, messy bottles. This system would be a turnkey solution for retailers; Additech would manufacture, install, and maintain the equipment, and in return, share the revenue from the additive sales. The business offered gas stations a new, high-margin revenue stream while giving consumers a convenient way to improve their vehicle's performance and fuel economy. The company developed patented technology that could be integrated with existing fuel dispensers. This allowed them to offer various cleaning and performance-enhancing treatments that the customer could select with the push of a button during the fueling process. Over the years, Additech grew its network, installing its systems at hundreds of gas stations across North America. The company secured at least $53.7M in funding from investors including Adams Capital Management and BEV Capital to fuel its expansion. A significant event in the company's journey occurred in October 2018, when Additech was acquired by Osgood Capital, a private equity firm. This move was intended to provide fresh capital to help Additech expand into untapped markets and further develop its technology. The acquisition marked a new chapter for the Houston-based company, aimed at capitalizing on the increasing consumer demand for convenience and enhanced product offerings right at the pump.