Ray Energy

What Ray Energy does

Ray Energy Corp. is a fourth-generation, family-owned midstream propane and premium gasoline supplier headquartered in Latham, New York. Founded in 1904 as an ice delivery business, the company divested its retail heating oil, propane, and diesel operations to Petro/Star Gas in 2011 and refocused exclusively on wholesale propane supply and logistics alongside a branded premium gasoline division. Its core business is providing wholesale propane to propane marketers across the Northeast, Mid-Atlantic, Southeast, and Mid-Continent United States, sourced through a multi-modal supply system spanning pipeline (TEPCO), rail terminals, marine imports, and refinery supply, delivered via an owned GPS-guided transport fleet.

The company's primary physical asset is the 21-acre Hampton Propane Rail and Truck Terminal on the New York–Vermont border, featuring 16-spot rail siding and 840,000 gallons of combined storage capacity (360,000 gallons fixed tanks plus 480,000 gallons rail car storage), capable of offloading 16 railcars per day and loading 50 transports per day. In 2022, Ray Energy became the first supplier to deliver renewable propane to the Northeast, followed by Connecticut in 2023. The premium gasoline division operates branded products — PitStop, Captain's Choice Marine Gas, and RealGas Plus ethanol-free gasoline — through a dealer network in the Capital Region of New York and Bennington County, Vermont, complemented by fuel tank rental services.

Ray Energy operates without institutional funding, generating revenue through negotiated wholesale propane supply contracts (handled by regional marketing managers) and transaction-based gasoline sales. The company maintains an active industry presence through trade associations (PGANE, MAPGA, NYPGA), a monthly content-marketing blog (the Heffron Blog), and email newsletters, while leaning on personal relationships and operational reliability — rather than technology differentiation — as its primary competitive lever.

Name

Ray Energy

Legal name

Ray Energy Corp.

Website

https://rayenergy.com

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

11–50 employees

Short description

Ray Energy Corp. is a fourth-generation, family-owned midstream wholesale propane and premium gasoline supplier serving propane marketers across the Eastern and Mid-Continent US from a 840,000-gallon rail terminal on the NY-VT border.

Ownership category

akta.pro rank

Product category

Wholesale Propane Supply & Logistics

NAICS

Fuel Dealers (45721)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)

akta.pro secondary industry

Marine Fueling & Engine Fluids Retail (Oil, Additives, Lubricants) (CRAMAIAK)

Keywords

• Wholesale propane supply
• Midstream propane logistics
• Premium gasoline distribution
• Renewable propane
• Fuel storage rental

Headquarters

HQ city

Latham

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Wholesale Propane Supply & Logistics: Provides wholesale propane supply and logistics to propane marketers across the Mid-Central and Eastern regions of the United States through a strategic supply system incorporating pipeline, rail, and marine sources.
2. Premium Gasoline Products: Sells premium ethanol-free gasoline and marine gasoline through branded dealer network (PitStop, Captain's Choice Marine Gas, RealGas Plus) to gas stations, marinas, and small engine fleet operators.
3. Fuel Tank Rental: Offers rental fuel storage tanks ranging from 500 to 20,000 gallons capacity, including double-walled, dike, and fire-rated tanks for above-ground petroleum product storage.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Ray Energy provides wholesale propane supply and logistics to propane marketers across the Mid-Central and Eastern regions of the United States through a strategic, multi-modal supply system incorporating pipeline, rail, marine, and refinery sources. The company also distributes premium ethanol-free gasoline and marine gasoline through branded dealer networks in the greater Capital Region of New York and Vermont, and rents fuel storage tanks ranging from 500 to 20,000 gallons.

Product overview

Ray Energy Corp. is a midstream wholesale propane supplier founded in 1904, operating as a fourth-generation family business. The company offers a diversified portfolio of energy products centered around two core divisions: Wholesale Propane and Premium Gasoline. The Wholesale Propane division provides strategic supply capabilities including pipeline, rail, and marine sources through facilities like the Hampton Propane Rail & Truck Terminal, along with renewable propane options. The Premium Gasoline division offers branded products including Captain's Choice Marine Gasoline, RealGas Plus Ethanol-Free Premium Gasoline, and fuel tank rental services. The company serves the Northeast, Mid-Atlantic, Southeast, Eastern, and Mid-Continent US regions with an 'all of the above' approach to supply diversification.

Differentiator

Problem solved

Functional benefit

Brands

• PitStop: High-performance gasoline brand available at locally owned and operated PitStop service stations throughout the greater Capital Region.
• Captain's Choice Marine Gas
• RealGas Plus

Products and services

• Wholesale Propane Midstream propane supply and logistics services providing strategic supply capabilities including pipeline, rail, and marine sources with an 'all of the above' approach to ensure reliable propane delivery for propane marketers across the Eastern and Mid-Continent US.
• Renewable Propane 100% fossil-free, low-carbon propane sourced and produced in the USA from biomass feedstocks and waste products; a drop-in fuel compatible with existing propane installations requiring no equipment change-out.
• Propane Rail and Truck Terminal Services Hampton Propane Rail & Truck Terminal providing rail offloading and truck loading capabilities with 360,000 gallons of fixed storage and 840,000 gallons total capacity, supporting Northeast propane marketers.
• Premium Gasoline Products Premium gasoline offerings including ethanol-free gasoline and marine gasoline distributed at branded locations throughout the greater Capital Region of New York and Vermont.
• Captain's Choice Marine Gasoline Premium marine gasoline blend specially formulated with gas stabilizer and high-performance additives to prevent fuel stability issues, protect against ethanol-induced water attraction, and prevent phase separation in marine vehicles.
• RealGas Plus Ethanol-Free Premium Gasoline Ethanol-free premium gasoline that prevents gummed carburetors, fuel degradation, and other ethanol-related problems; ideal for small engines, landscaping equipment, tractors, and machines idle for extended periods.
• Fuel Tank Rental Fuel storage tank rental services with 500 to 20,000-gallon capacity above-ground storage tanks for all petroleum products, including double-walled, dike, and fire-rated tanks.

Quantifiable outcome

• 840,000 gallons storage capacity ensures peak season fuel availability
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Capitol Clean Cities of ConnecticutminorGTM or Marketing Partner · 20 September 2023Co-host of renewable propane ribbon-cutting event for first renewable propane delivery to Connecticut, working with Hocon Gas, PERC, and PGANE.
• Hocon GasminorStrategic or Co-development Partner · 15 September 2023Ray Energy delivered first renewable propane to Connecticut at Pride Travel Center/Hocon Gas facility in Hartford. David Gable, President of Hocon Gas, received Green Transportation Champion Award at the event.
• Propane Education & Research Council (PERC)minorGTM or Marketing Partner · 12 April 2022Collaborative partnership for renewable propane promotion and education. PERC provides industry resources and support for renewable propane market development in the Northeast.
• New York Propane Gas Association (NYPGA)minorGTM or Marketing Partner · 12 April 2022Industry association partnership for propane advocacy and market development in New York State. Bill Overbaugh, Interim Executive Director, has supported renewable propane as viable clean energy alternative.
• Stuart, FL Rail Terminal OperatorcoreStrategic or Co-development Partner · 11 March 2022Partnership with rail terminal operator in Stuart, Florida enables Ray Energy to bring propane supply to retailers along the entire east coast of Florida. The strategically located rail-supplied terminal shortens transport distance and allows retail customers to receive bulk loads in a more timely manner.
• Vermont RailroadcoreStrategic or Co-development Partner · 23 August 2018On-demand rail switching services provided by Vermont Railroad for the Hampton Propane Rail & Truck Terminal on the NY-VT border, enabling rail delivery of propane supply to the Northeast region.

Scale indicators4 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• DCP Midstream: One of the largest NGL midstream players in the US, operating gathering systems, processing plants, pipelines, and propane storage/distribution. Directly comparable to Ray Energy's midstream propane logistics business; VP Marketing Stephen Heffron previously worked at DCP Midstream/Duke Energy, indicating overlap in customer base and operational approach.
• Crestwood NGL Operations: NGL and propane midstream operations now part of Energy Transfer, with storage, rail terminals, and wholesale distribution across multiple US regions. Multiple Ray Energy executives came from Crestwood (formerly Inergy), and the companies compete directly for wholesale propane customers in overlapping geographies.
• Targa Resources: Major NGL gathering, processing, and propane distribution midstream operator with logistics platform across multiple US basins. Comparable midstream logistics model with rail terminals, fractionation, and wholesale propane distribution to retailers and marketers across similar geographies.
• MarkWest (MPLX): NGL midstream business operated by Marathon Petroleum's MPLX subsidiary, with major processing, fractionation, and distribution operations across key US producing regions. Director Mid-Continent Bryon Muchow previously held roles at MarkWest, indicating direct competitive overlap.
• NGL Energy Partners: Propane and NGL distribution company with wholesale, retail, and midstream operations including terminal storage and rail logistics. Comparable midstream propane distribution model with similar customer base of retail marketers, though the company has experienced recent financial challenges.
• Global Partners: Major Northeast US fuel distributor with operations in gasoline, diesel, heating oil, and propane across the Northeast. Direct comparable to Ray Energy's Northeast propane wholesale and fuel distribution model, including marketing manager Ryan DiGuiseppe who previously served as Northeast Sales Manager there.
• CHS Inc. Large US agricultural cooperative with energy division wholesale operations including propane distribution to farm and rural customers. Comparable propane wholesale model serving agricultural and rural retail customers in Midwest markets, overlapping with Ray Energy's industrial and agricultural customer segment.

Broad incumbents

• AmeriGas Propane (UGI): Largest retail propane distributor in the US, subsidiary of UGI Corporation, with national reach and significant procurement/wholesale operations. Broader incumbent that competes with Ray Energy for wholesale supply relationships with regional marketers and also operates retail directly.
• Suburban Propane Partners: Public retail propane distributor with national footprint and significant wholesale procurement operations. Competes with Ray Energy in propane wholesale supply to retail customers and overlaps in regional markets across the Northeast and Mid-Atlantic.
• Ferrellgas Partners: Public retail propane distributor with national footprint and Blue Rhino propane exchange business. Competes with Ray Energy as a wholesale propane supplier to retail marketers and operates its own midstream procurement and storage capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/RayenergyFuel
• LinkedInlinkedin.com/company/ray-energy-corp-
• Xx.com/rayenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ray Energy