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Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities, is pleased to announce the deployment of an industry-leading commercial microgrid project being delivered in partnership with Energy Toolbase ("ETB"), which provides a suite of project modeling, energy storage control and asset monitoring products for solar and storage microgrid deployments.
Tantalus, through its recent acquisition of DLC Systems d/b/a Congruitive ("Congruitive"), and ETB are jointly supporting the deployment of a microgrid that includes solar panels and battery storage to provide resiliency to the headquarters of a major construction company in Riverdale, California. Designed to address the broader global microgrid market, which is expected to grow by nearly 18% annually to US$26B by 2026, the combined solution will enable the construction company to manage demand charges, perform load shifting and take advantage of other economic optimizations while being connected to the electric distribution grid, as well as providing resiliency to maintain operations in the event the headquarters experiences a power outage from their local utility. During grid power outages, the microgrid will automatically reconfigure the solar and storage system into an islanded resource, delivering backup power to the building. As part of the deployment, ETB's energy management system, known as Acumen EMS™, is providing the intelligence layer to manage the economic optimization of the system. Through its Congruence.IQ™ ("C.IQ™") Microgrid Controller, Tantalus is delivering the necessary software and tools to manage the microgrid during grid outages.
"We are witnessing an increasing number of commercial enterprises build their own microgrids to become more resilient and mitigate exposure to power outages," said Scott D'Ambrosio, Vice President of Sales at Energy Toolbase. "Organizations not only need the support and expertise to help simplify these complex projects, but also the intelligent software required to safely operate and monetize these systems. By integrating the C.IQ capabilities from Tantalus, our partnership delivers a comprehensive system to maximize the return on investments being made in microgrids."
"As we witness an increasing number of power outages resulting from extreme weather events or aging grid infrastructure, businesses are taking matters into their own hands by deploying new technologies that are under their control, such as microgrids, to mitigate disruptions to their operations," said Peter Londa, President & CEO of Tantalus Systems. "By working alongside Energy Toolbase, we are delivering a unified solution that delivers continuous value not only during power outages but also while power from the grid is still available by helping businesses reduce peak demand charges and shifting their load profiles. As we witness an increasing number of microgrid installations, our comprehensive system with ETB will also provide the necessary tools to ensure local utilities can embrace these distributed energy resources as a means of improving their reliability and overall service to the communities they serve."
About Tantalus Systems (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. Learn more at www.tantalus.com.
About Energy Toolbase
Energy Toolbase is an industry-leading software platform that provides a cohesive suite of project estimating, storage control, and asset monitoring products that enable solar and storage developers to deploy projects more efficiently. Energy Toolbase's SaaS products are used by over 1,000 distributed energy organizations worldwide. To learn more or request a free trial, visit: https://www.energytoolbase.com.
Energy Toolbase is backed by its parent company, Pason Systems, a leading global provider of data management systems and controls automation software for the energy industry. With a global footprint and 40-year track record, Pason enjoys one of the strongest balance sheets in the industry and trades on the Toronto Stock Exchange under the symbol PSI. For more information visit: https://www.pason.com.
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, benefits and effectiveness of C.IQ™ and C.IQ Microgrid Controller in conjunction with Energy Toolbase solutions, the adoption and use of microgrids with Tantalus and Energy Toolbase joint solutions, the growth of the global microgrid market 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 new 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/119235
Image 1: Waroona Project – Debt Financing Process and indicative timing
