Abstract: A system for storing, circulating and dispensing a liquid compound is disclosed. The system comprises a vessel having an open top end and a closed bottom end, with the compound being disposed within the vessel. A movable ceiling member is positioned within the vessel, with the movable ceiling member forming a first chamber and a second chamber within the vessel, and wherein the compound is located within the first chamber and the second chamber is exposed to the atmosphere. A lifting member is provided for lifting the movable ceiling member from the vessel is also included. The system may further comprise a circulation conduit operatively attached to the movable ceiling, a drain conduit operatively associated with the bottom end of the vessel, and a pump member adapted for pumping the compound from the first chamber to the circulation conduit so that the compound is circulated within the vessel. A method of storing, circulating and dispensing a fluid compound is also disclosed.