Tantalus Systems Holding Inc (TSX:GRID)
Shares Issued 44,588,196
Last Close 9/2/2022 $1.14
Tuesday September 06 2022 - News Release
Mr. Peter Londa reports
TANTALUS DELIVERS 3 MILLIONTH INTELLIGENT ENDPOINT TO PUBLIC POWER AND ELECTRIC COOPERATIVE UTILITIES
Tantalus Systems Holding Inc. has now deployed more than three million smart grid-enabled connected metres with its integrated Truedge computing modules to public power and electric co-operative utilities. This milestone is significant in the evolution of modernizing distribution grids of community-oriented utilities. These connected metres with Truedge computing modules serve as the backbone of a digital network that improves a utility's resiliency in the face of massive economic, environmental and regulatory change.
Through these three million connected metres, Tantalus is gathering more than 30 billion data points annually that provide visibility into evolving power consumption patterns and corresponding power quality measurements from the edge of the grid. By feeding the data of power from the edge of the grid into advanced software applications and artificial-intelligence-enabled data analytics, Tantalus's customers gain real-time situational awareness to improve their system planning, protect substation and distribution assets, respond faster to emergencies, optimize the efficiency of their grids, and enhance their customer support.
These connected devices are also capable of reading multiple communication protocols to support an increasing number of initiatives across water and gas departments of multicommodity utilities. As water emergencies surface across the United States, Tantalus is delivering an interoperable system that automates the data collection of industry-leading water and gas metre interface units (MIUs), creating enormous economic and operational advantages.
"The world is becoming increasingly complicated for utilities as extreme weather events continue to unfold and new technologies, such as electric vehicles, solar panels and storage applications, increasingly surface across the grid," said Peter Londa, Tantalus president and chief executive officer. "The distribution grid is at risk, and it is imperative for utilities to access and analyze granular data to improve their visibility into what is currently unfolding in order to pro-actively plan for the future. Shipping our three millionth endpoint is another example of how our team is helping utilities tap into the power of data to become more resilient, reliable and innovative in the face of relentless change."
About Tantalus Systems Holding Inc.
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multidirectional grids that improve the efficiency, reliability and sustainability of public power and electric co-operative utilities and the communities they serve. ItsOur 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 Tantalus's user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements.
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