Focus on public power and electric cooperative utilities results in continued growth
Smart grid technology leader Tantalus Systems (TSX: GRID) today welcomed the multi-commodity utility servicing the City of Escanaba, MI to its user community, bringing the total number of utilities leveraging its solutions to 200.
Tantalus provides mission-critical smart grid solutions to the public power and electric cooperative utility market segment across North America and the Caribbean Basin. The company's dedication to this segment continues to yield growth and scale of its active user community-a community that includes more than 4 million endpoints capturing 30 billion consumption and power quality data points per year.
"Securing the 200th member of our user community is a tremendous milestone for our organization and the utilities that already rely on our team," said Tantalus President & CEO Peter Londa. "Throughout our history, Tantalus centered its purpose on developing technology solutions in support of the public power and electric cooperative market segment by transforming existing distribution grids into digital networks capable of resolving an increasing number of challenges confronting the utility industry."
As has been widely reported, utilities are under growing pressure to maintain operations despite disruptions from extreme weather, mandates to decarbonize and shifting consumer demand. Despite these disruptions, utilities are called upon daily to deliver safe, reliable and affordable services, all while relying on legacy distribution grids that are limited in their ability to withstand these challenges. By helping public power and electric cooperative utilities modernize their distribution grids and rise to these modern-day challenges, Tantalus has established a community of loyal customers through decades-long relationships.
"The one thing that stands out the most about Tantalus is how much they care about their customers. That makes a difference," said Greg Williams, General Manager of Appalachian Electric Cooperative. "We were early adopters of smart grid to automate our metering infrastructure, and we continue to partner with Tantalus to enhance our system, expand our services and improve the lives of our members. Working with Tantalus is more than just a technology match-it's a people match, too."
Chris Cable, from Inland Power & Light, an electric cooperative based in Spokane, WA recognizes the importance of partnering with a smart grid provider that prioritizes the needs of his utility and the members it serves. "Our fundamental goals are built around our community, and Tantalus just fit that mold. They come in, they're part of our community, they understand what we need. They're a partner. We can sit down at a table and have a very honest conversation about things that are going great, things that may be not so great. They engage and they respond."
There are nearly 3,000 public power and electric cooperatives in North America. The leadership team at Tantalus is focused on bringing even more of these utilities into its user community, and is building the momentum to do so through multiple initiatives going forward, including:
- The launch of TUNet® Grid Reliability Analytics, the company's first data-analytics solution, which is purpose-built for utilities. The analytics tool leverages data from Tantalus' solutions to provide utilities with visibility into power quality issues that can lead to outages. The analytics tool can also alert utilities to the premature failure of assets deployed across the distribution grid to mitigate disruptions from storms or potential fire hazards.
- The introduction of the TRUSense™ Fiber Gateway, which is a next-generation Fiber-to-the-Home (FTTH) solution. Tantalus recently secured a nationwide sales channel partner to accelerate its adoption, enabling utilities to be better positioned to deliver incremental services and integrate distributed energy resources (DERs).
- A license agreement integrating Neptune's R900® System water endpoint onto the Tantalus Utility Network (TUNet®). This agreement provides access to daily water consumption data and critical alarms from Neptune R900 devices, improving the efficiency and reliability of delivering water through a utility's distribution system.
"We remain committed to this market and our user community, and we're just getting started," reflects Tantalus CEO Peter Londa. "It's important for these utilities to have dedicated vendors that are willing to support them as long-term partners. Tantalus prides itself on delivering purpose-built solutions that not only meet their near-term needs but also provide a foundation for long-term innovation for generations to come."
About Tantalus Systems Holding Inc. (TSX: GRID)
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements.
Forward Looking Statements:
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the development, functionality, usefulness and effectiveness of Tantalus' solutions and the adoption of those solutions by new and existing customers, and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Tantalus disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.
Contact Tantalus:
Jacquie Hudson
Marketing Communications Manager
613-552-4244 | jhudson@tantalus.com
Linda Armstrong
Investor Relations
647-456-9223 | larmstrong@tantalus.com
Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
Twitter: @TantalusCorp
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96373
