Connected Devices Deliver Next-Generation Smart Grid Solutions and Data-Driven Applications to Help Utilities Modernize, Digitize and Improve Resiliency
BURNABY, BC – September 6, 2022 – Tantalus Systems (TSX: GRID), a smart grid technology company focused on helping build the utility of the future, is pleased to announce that it has now deployed more than 3 million smart grid-enabled connected meters with its integrated TRUEdge® computing modules to public power and electric cooperative utilities. This milestone is significant in the evolution of modernizing distribution grids of community-oriented utilities. These connected meters 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 3 million connected meters, 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 AI-enabled data analytics, Tantalus’ 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 multi-commodity 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 meter 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 CEO. “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 proactively plan for the future. Shipping our 3 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 (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.
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 and effectiveness of TRUEdge® modules and other Tantalus products, the impact of extreme climate events and the adoption of new technologies on utilities, 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.
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