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Angel Investor (Individual)

Investments

15

Portfolio Exits

3

About Greg Kidd

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Latest Greg Kidd News

Nitrogen benefits truck tires but is the high cost worth it?

Jan 13, 2023

Jan 12, 2023 Fleet leasing and management company Transervice told CCJ that they do not use nitrogen for tire inflation. That's not a surprise for Michelin which told CCJ that "they rarely, if ever see it used in fleets." Transervice Seen any green caps on truck and trailer tires recently? Probably not. Those hard-to-miss caps are a telltale sign that those tires are filled with nitrogen, which tire experts say reduces air pressure loss and eliminates moisture that accompanies ambient air. “One of the benefits of nitrogen is that it does not diffuse through the inner-liner of the tire as quickly as air,” said Greg Kidd, application engineer for Bridgestone Americas tire operations. “Therefore, nitrogen does reduce inflation pressure loss over time when compared with air.” Race car teams that are particularly cautious about maintaining proper tire pressure have used nitrogen for years. Airlines too. But what about truck fleets? More than a decade ago, stories rolled out announcing fleets that had signed up for nitrogen by acquiring machines that can render the common element from the air, which Kidd pointed out contains “a combination of about 78% nitrogen, 21% oxygen, 1% argon and other trace gases.” But as the years ticked away, technology supporting tire pressure monitoring systems (TPMS) improved and helped fleets to more consistently maintain ideal tire pressure while out on the road; something that’s more of a challenge for nitrogen users. Once a truck leaves the terminal with its tires filled with nitrogen, those tires will have to be inflated with nitrogen while on the road to realize the benefits. Even small amounts of oxygen will compromise the outcome. That’s one of the reasons why Ryder System skipped out on using the gas. “A nitrogen tire inflation program can be effective to aid tire performance if a 95% nitrogen saturation level inside the tire air chamber is maintained. Below this level, the program does not add benefits to a tire program,” said Ryder Director for National Tire Maintenance Elijah Williams. “Additionally, there is limited availability of nitrogen inflation stations and few providers who can support the program if a vehicle is outside of the Ryder network.” Ryder System's director for national tire maintenance Elijah Williams said they don't use nitrogen for tire inflation because "there is limited availability of nitrogen inflation stations and few providers who can support the program if a vehicle is outside of the Ryder network. "Ryder System Since properly inflated tires have been shown to improve fuel economy, the North American Council for Freight Efficiency (NACFE) has included nitrogen in its long lineup of fuel-saving practices. However, its latest Annual Fleet Fuel Study released last month did not indicate any fleets participating in the study had used the gas. “That's been in our study forever and none of these fleets use it,” said NACFE executive director Mike Roeth, "but we keep hearing about it out in the field.” Roeth added that nitrogen use may be more confined to smaller carriers and owner-operators, but in the meantime they plan on keeping nitrogen on their list of fuel-saving tips. “We actually talked about taking it off but we decided to keep it on just in case, and so we keep asking the fleets year over year,” Roeth said. The upfront cost to switch to nitrogen can also keep some fleets away. Prices for commercial tire generators CCJ spotted online ranged mostly from $8,000 to $15,000. “The two primary disadvantages of nitrogen use are added cost and issues related to availability,” Kidd said. That’s where TPMS has stepped up to help fleets to more consistently achieve ideal tire pressures. “Certainly, TPMS systems have improved the monitoring and visibility of tire inflation pressure overall,” Kidd said. “A good inflation pressure maintenance program, coupled with a TPMS system, should yield positive results in maintaining consistent inflation pressure.” Don’t count nitrogen out Nitrogen can still play a vital role for fleets, particularly for those that have equipment that sits for long periods of time, according to Frank Ruscitti, owner of NitrogenMan, a marketer of nitrogen generators for commercial fleets near Pittsburg, Pennsylvania. “We did a company outside of Pittsburgh two years ago that does lowboy hauling and those trailers sit and sit and sit,” Ruscitti said. “Every time they went out West, they lost tires. It’s because those trailers sit and those tires deteriorate.”

Greg Kidd Investments

15 Investments

Greg Kidd has made 15 investments. Their latest investment was in Aeldra as part of their Angel on June 6, 2022.

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Greg Kidd Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/7/2022

Angel

Aeldra

No

1

4/14/2021

Seed VC

Tribe Accelerator

Yes

2

2/17/2021

Seed VC

Zolve

$15M

Yes

10

1/1/2021

Seed VC

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$99M

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10

8/14/2019

Angel

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10

Date

6/7/2022

4/14/2021

2/17/2021

1/1/2021

8/14/2019

Round

Angel

Seed VC

Seed VC

Seed VC

Angel

Company

Aeldra

Tribe Accelerator

Zolve

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Amount

$15M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

2

10

10

10

Greg Kidd Portfolio Exits

3 Portfolio Exits

Greg Kidd has 3 portfolio exits. Their latest portfolio exit was Import.io on January 18, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/18/2023

Acq - Fin

$99M

1

4/14/2021

IPO

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$99M

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10

11/5/2013

Acquired

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$99M

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10

Date

1/18/2023

4/14/2021

11/5/2013

Exit

Acq - Fin

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

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