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In this white paper, you'll discover: The power of a single source of truth for enhancing customer experience. Tools and strategies to access the right messaging and data effortlessly. Tips for a swift and efficient alignment of support reps.

Find the paper on TextExpander's website.

For more information, contact Cooper Rick at Cooper@TextExpander.com.

Apogee Interactive – a provider of customer engagement, education, and communication software – and AIQUEOUS – a pro vider of customer relationship and program management software – have combined to create a premier customer relationship & engagement platform for utilities and utility service providers. The unified entity is backed by M33 Growth, a growth-stage investment firm that partners with founders and management teams who have bootstrapped their businesses to a point where they are aiming to breakthrough as market leaders.

Apogee has been empowering utilities with customer engagement solutions for two decades. “In founding and building Apogee, my husband Joel and I stayed intently focused on our strengths and passion for excellence,” said Susan Gilbert, Co-Founder of Apogee. “We only worked in areas where we believed we could be the best in the world at leveraging technology, analytics and innovation to promote energy stewardship to benefit the energy industry,” added Joel Gilbert, Co-Founder. “We are excited to see the company enter this new phase of growth, partnered with a team who shares our perspective and values.” Susan and Joel Gilbert will continue to support the business in an advisory capacity.

The transaction brings together a wealth of experience in the utility sector and provides a single-source vendor for outbound engagement and program execution & management. “Today, utilities are competing for their customers’ attention beyond the monthly bill,” said Jonathan Kleinman, CEO of AIQUEOUS. “Partnering with their customers to decarbonize, improve demand flexibility and meet efficiency goals requires customer awareness and a seamless digital path to participation. The combination of Apogee and AIQUEOUS potentially enables any energy or water service provider – including utilities, retailers, CCAs and suppliers – to deliver an exceptional customer engagement experience throughout the entire lifecycle.”

“At Apogee, we are always looking for ways to message utility customers in more relevant and personal ways,” said Jim Albert, Chief Technology Officer at Apogee. “Combining the Apogee and AIQUEOUS solutions allows us to better understand what critical factors drive program participation, and in the end will allow our customers to implement programs with engaged and satisfied customers.”

“We are excited to partner with M33 Growth and their commitment to the goal of building best-in-class software businesses,” said Jim Malcom, Chief Operating Officer of Apogee. “We are eager to share best practices with others in the M33 portfolio and leverage the team’s experience in the energy industry.”

“We believe that M33 is the perfect fit for AIQUEOUS as an equity partner,” said Kleinman. “By recognizing the value of our team, understanding the systems and support for our business stage, and experience scaling SaaS businesses, we believe that M33 provides the resources needed to achieve our mission and vision.”

“We are excited to partner with the Apogee and AIQUEOUS teams to redefine how today’s utilities engage with and educate their customers,” said Brian Shortsleeve, Co-Founder and Managing Director of M33 Growth. “We look forward to helping the team drive this next phase of growth in creating what we believe to be a cutting-edge customer engagement and relationship management software platform, purpose-built for utilities.”

About Apogee

Apogee Interactive, Inc. is a provider of customer engagement software for utilities, serving the energy industry since 1993. Apogee’s customer engagement platform helps utilities establish ongoing digital relationships with customers, helping them engage and educate customers, reduce costs, achieve behavioral energy efficiency, and grow customer satisfaction. Apogee’s solution enables personalized, relevant, video-based messaging through multiple channels, drives self-service, and improves operational efficiencies through marketing automation. Apogee’s loyal client base includes Commonwealth Edison, Liberty Utilities, ConEd, Duquesne, Tampa Electric, People’s Gas, CenterPoint, Xcel Energy, LADWP, and hundreds of other IOU, municipal, cooperative, and gas utilities.

For more information, visit www.apogee.net.

About AIQUEOUS

Headquartered in Austin, Texas, AIQUEOUS provides customer relationship and program management software to utilities and utility service providers. AIQUEOUS’s clients use POWERPATH, WaterWays and ECOiQ in 8 states and 2 Canadian provinces, and completed over 47,800 projects in 2022 providing nearly $60 million in incentives or rebates to their customers. AIQUEOUS products aim to increase customer satisfaction, provide visibility and transparency across services and programs and improve staff productivity and system security. AIQUEOUS is SOC 2 compliant and meets security requirements for investor-owned and publicly-owned utilities.

Learn more at www.aiqueous.com.

About M33 Growth

M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With industry experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America.

Learn more at www.m33growth.com.

BURNABY, BC – January 30, 2024 – Tantalus Systems (TSX: GRID) (“Tantalus” or the “Company”), a smart grid technol ogy company focused on helping build sustainable utilities for the future, announces the launch of the Tantalus Grid Modernization Platform™ (TGMP™), including TRUSync, an industry-defining grid data management system. TGMP is a technology platform that helps utilities accelerate their grid modernization efforts. The platform includes a smart grid architecture comprised of connected devices, communications networks, grid data management, applications and analytics. TRUSync, an expansion of the software acquired through Tantalus’ acquisition of Congruitive in 2022, is a ground-breaking middleware layer that delivers true interoperability and automates the integration of all utility data captured from any device, any system and any vendor.

The need for this type of platform has never been greater. In a survey of 116 utilities finalized by Tantalus in 2023, 93% said that modernizing their distribution grid was an important priority while only 11% felt completely prepared to do so. Grid modernization requires utilities to harness the power of data across all devices located throughout the entire distribution grid — from devices deployed inside the substation to distributed energy resources (DERs) and smart appliances located behind the meter.

“To modernize, utilities must shift their perspective from traditionally being device-centric to becoming data-centric,” said Peter Londa, President and CEO of Tantalus. “The real challenge confronting utilities seeking to modernize their grid is data management, not a lack of powerful connected and intelligent devices. Grid modernization requires the integration of an increasing amount of data from a growing number of connected devices in a synchronized manner. To fully achieve grid modernization, utilities must access untapped value through data interoperability.”

By offering a modular approach, TGMP enables utilities to be more surgical and strategic in their deployments while minimizing the cost of prematurely abandoning existing investments and assets. The platform delivers unprecedented levels of visibility, command and control and provides an autonomous, flexible, secure and affordable path to grid modernization.

An integral component of TGMP is TRUSync, a middleware layer that sits between a utility’s connected devices and the software applications and analytics packages that use the data those devices generate. The power of TRUSync comes from true data interoperability delivered through a groundbreaking library of protocols and data models. The software generates a unified, single version of the truth that bridges the gap between Operational Technology (OT) and Information Technology (IT). This represents a first for the industry and serves as a catalyst for grid modernization.

In addition, Tantalus is rebranding its existing suite of solutions to align the overall platform, including:

• TRUConnect™ AMI: Tantalus’ purpose-built edge computing endpoints that are capable of integrating a wide range of field devices and meters across a robust communications network and a suite of software applications.
• TRUGrid™ Automation: Tantalus’ rapidly expanding suite of applications and data analytics that leverage AI to anticipate and proactively respond to challenges arising from failing distribution equipment, such as transformers, extreme weather events or imbalances between the supply and demand of electricity.
• TRUFlex™ Load+DER Management: Tantalus’ solution to help utilities manage a wide variety of residential and commercial loads responsively, reliably and flexibly while reducing costs associated with power outages and improving operational efficiencies.
• TRUSense Gateway™: Tantalus’ innovative suite of collar-based connected devices that deliver AMI 2.0 functionality without unnecessarily ripping and replacing existing meters. These devices also capture substation-level power quality measurements at the meter socket and deliver a utility-dedicated and secure connection to DERs and smart appliances located behind the meter. TRUSense Gateways also enhance investments in fiber-to-the-home broadband initiatives.

“TGMP was designed to empower utilities to modernize the grid at their own pace,” continued Tantalus President and CEO Peter Londa. “If a utility has already deployed pieces of our platform from Tantalus or another vendor, no problem. Our focus on interoperability and our unwavering commitment to reverse-compatibility helps customers leverage existing investments and mitigate risks associated with vendor lock-in. TGMP delivers a comprehensive and unified platform that enables utilities to tackle near-term challenges while pursuing a long-term and necessary goal of truly modernizing distribution grids.”

For more information about the Tantalus Grid Modernization Platform, TRUSync, and the company’s suite of solutions, visit the company’s new website at: www.tantalus.com. 

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 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 http://www.tantalus.com/. 

Forward-Looking Information:
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 adoption, performance, functionality and development of the Tantalus Grid Modernization Platform, TRUSync, TRUConnect AMI, TRUGrid Automation, TRUFlex Load+DER Management and TRUSense Gateways, the issues anticipated to face utilities relating to the modernization of the distribution grid and how those issues can best be addressed, the leveraging of broadband deployments, , the ability of Tantalus’ solutions to assist customers in addressing such issues in an effective and flexible manner, 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 s imilar 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 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.

BURNABY, BC – May 10, 2021 – Smart grid technology leader Tantalus Systems (TSX: GRID) is pleased to announce that it has received final approval for the listing of its common shares on the Toronto Stock Exchange (the “TSX”).

Tantalus’ shares will commence trading on the TSX at the opening on Monday, May 10, 2021 and will continue to trade under the Company’s current stock ticker symbol, “GRID”.  To ensure continued and seamless trading for its shareholders and in connection with the graduation to the TSX, Tantalus’ shares will be delisted from the TSX Venture Exchange at the commencement of trading on the TSX.

“Our graduation to the TSX marks another key milestone in achieving Tantalus’ purpose, which is to help build sustainable utilities of the future,” said Peter Londa, President & CEO of Tantalus. “Since joining the TSXV earlier this year, our team has been working diligently to meet the more stringent reporting requirements of the TSX and today’s transition reflects the culmination of our team’s effort. As we seek to further strengthen our organization to help utilities prepare for the decarbonization of the power industry, we anticipate enhancing our liquidity, raising our Company’s profile in the capital markets and gaining access to a broader investor base by successfully migrating to the TSX.”

About Tantalus

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:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 

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 listing of Tantalus’s common shares on the TSX, 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

OMICRON, a leading worldwide supplier of power system testing solutions, announces the 4th Annual North American IEC 61850 Tutorial & Workshop will be held May 25th-27th, 2021. This live and interactive event is part of OMICRON’s initiatives for virtual knowledge sharing to the industry and its community. Experts will share practical examples highlighting aspects of IEC-61850-based protection, automation, and control systems, including cybersecurity.

“Regardless of where you are in your IEC 61850 journey, this event has something for everyone” said Jackie Peer, Head of Strategic Business Development and event moderator, OMICRON. “Last year, we had over 600 attendees for a one-day event. There was a strong interest in expanding the program, and we did just that. Now, for three days, we offer an optional day of introductory topics and a full day of workshops. Also new, a cybersecurity panel that brings some of the who’s who in cybersecurity to the discussion and a keynote address that is sure to be a treat.”

This year’s keynote is from Dr. James Merlo, Vice President of Operational Excellence at Knowledge Vine, a company that provides Human Performance training and consulting. Dr. Merlo leads Knowledge Vine’s efforts in helping companies around the world leverage Human Performance Improvement technologies to reduce the frequency and severity of errors.

 “As digital systems become increasingly complicated, the requirement for good human factors, human-centered processes and checks, and purposefully designed tools to test, troubleshoot, and commission are more important than ever for our engineers and technicians. Our human capital is, and always will be, the most important part of the system.” Said Dr. Merlo, Vice President of Operational Excellence, Knowledge Vine.  

This event is for those in communications, SCADA and protection engineers, design engineers and system integrators, commissioning and maintenance staff, cybersecurity staff, and anyone interested in learning more about IEC 61850 applications.

The event starts at 10:00 am and ends at 3:30 pm Central Time with breaks. The event cost is $195 for the main event and an additional $50 for the optional day of introductory sessions.  

May 25, 2021 – Optional introductory sessions
May 26, 2021 – Keynote, presentations, and special cybersecurity panel
May 27, 2021 – Workshop break-out sessions

Additional event details and registration is found on OMICRON’s site: https://events.omicronenergy.com/na-iectw.

IEC 61850, the established standard for communication in substations and power utility automation systems, has become the international core standard for smart grids and lays down the prerequisites for a future-proof design and the frictionless interoperability of products from different manufacturers. OMICRON offers protection and control engineers a set of advanced testing and cybersecurity solutions in IEC 61850 environments. The individual tools complement one another and cover a wide range of requirements.

Company profile OMICRON is an international company serving the electrical power industry with innovative testing and diagnostic solutions. The application of OMICRON products allows users to assess the condition of the primary and secondary equipment on their systems with complete confidence. Services offered in the area of consulting, commissioning, testing, diagnosis and training make the product range complete.

Customers in more than 160 countries rely on the company’s ability to supply leading edge technology of excellent quality. Service centers on all continents provide a broad base of knowledge and extraordinary customer support. All of this together with our strong network of sales partners is what has made our company a market leader in the electrical power industry.

Burnaby, BC – May 17, 2021 –– Smart grid technology leader Tantalus Systems Holding Inc. (TSX: GRID) (“Tantalus” or the “Company”) today announced the financial results for the first quarter, ended March 31, 2021. 

“We witnessed favorable trends throughout Q1 as the utility industry continues to recover from disruptions resulting from the COVID-19 pandemic. The favorable trends translated into strong financial results for Q1 including revenue growth of 11% year-over-year and another quarter of positive Adjusted EBITDA,” said Peter Londa, President & CEO of Tantalus. “While regions across our geographic focus continue to be impacted by the COVID-19 pandemic, we are becoming increasingly optimistic regarding a broad recovery across our sector, particularly given the Biden Administration’s commitment to decarbonize the power grid. Biden’s robust initiative to modernize the power industry coupled with the electrification of the transportation industry will require the electric distribution grid to transform into an intelligent network of connected devices capable of responding to these changing dynamics. As our user community now surpasses 190 utilities, we believe Tantalus is at the forefront of building the sustainable utility of the future,” said Londa.

In addition to the decarbonization and electrification of the transportation industry, the recent storm that devastated Texas is another example of how extreme weather can lead to catastrophic damage and amplifies the need to improve the resiliency of the electric distribution grid. During this past February, most of Texas was heavily impacted by a severe storm that brought freezing temperatures, ice and snow across the state. The storm disrupted more than 3 million people who were without power, left nearly 15 million people with undrinkable water, damaged homes and caused severe economic distress from extraordinarily high energy bills. In addition to the damage from the storm, the Texas grid was heavily impacted by the loss of approximately 40,000 megawatts of power from renewable energy, such as wind and solar, across a 24-hour period. This disruption of reliable electric power made clear how the variability of renewables must be balanced with upgrades to the electric distribution grid to enable utilities to command and control the consumption of electricity. Tantalus’ technology and solutions supported seven utilities across the state in navigating through the massive disruption arising from this storm and allowed those Tantalus customers to avoid severe damage to their infrastructure and the communities served by those utilities.

While the growth horizon looks favorable for Tantalus, management is mindful of ongoing worldwide disruptions to the availability of electronic components, which has a direct impact on the Company’s supply chain and lead times. Management is actively managing these global supply chain constraints and will continue to monitor the situation with its component suppliers and contract manufacturer.

“In addition to delivering our Q1 2021 financial results, we commenced trading on the TSXV on February 9th and launched several critical technology initiatives during the quarter which we expect to contribute to our long-term growth and increase the revenue we generate from software and services, which now stands at 33% of our entire revenue profile. As we look towards Q2, we are extremely excited about our recent graduation to the TSX which we believe will expand the universe of investors we can access to support our growth trajectory and increase the Company’s liquidity on behalf of our shareholders,” said Londa.

Financial Summary and Operating Highlights

(Financial information is reported in United States dollars (“US$”) and in accordance with International Financial Reporting Standards (“IFRS”)).

Q1 Financial Summary

• The Company reported revenue of US$8.0 million for Q1 of 2021 compared to US$7.2 million for the same period in 2020, representing approximately 11% growth year-over-year.
• Gross Profit for Q1 of 2021 increased to US$3.6 million versus US$3.4 million in Q1 of 2020. Gross Profit margin decreased to 45% in Q1 of 2021 from 47% in Q1 of 2020 due to the product mix of connected devices sold during the quarter.
• Adjusted EBITDA in Q1 of 2021 decreased to US$55,350 versus US$123,284 in Q1 of 2020. The decline in Adjusted EBITDA was tied to the Company’s incurrence of additional costs in connection with its going public transaction in January 2021 which were not similarly incurred in the prior year Q1 period, as well as a reduction in government assistance funding from the Canadian Scientific Research and Experimental Development program (SR&ED). The reduction in access to SR&ED arises from the Company no longer being a Canadian-controlled private corporation as a result of the going public transaction and the Company expects to see the impact from no longer accessing SR&ED on a year-over-year comparison basis through the end of FY2021. 
• The Company had total assets of US$27.2 million as at March 31, 2021 compared to US$16.7 million as at March 31, 2020, with Adjusted Working Capital as at March 31, 2021 of US$9.1 million compared to Adjusted Working Capital of US$2.7 million as at March 31, 2020.

Operating Highlights in Q1 2021

• Growth of Tantalus’ User Community: Tantalus added 5 new utilities during Q1 of 2021, continuing to demonstrate an ability to expand the number of utilities leveraging Tantalus’ smart grid solutions. Tantalus’ user community now stands at over 190 utilities across the United States, Canada and the Caribbean Basin.
• Expansion of Solutions: Tantalus continued to make substantial progress in expanding the functionality and features of its solutions through March 31, 2021 and announced the introduction of several key initiatives aimed at increasing the company’s revenue contributions from recurring revenue generated from software and services:
• TUNet® Grid Reliability Analytics:  TUNet Grid Reliability Analytics utilizes algorithms to continuously monitor power-quality data accessed by TRUEdge®-enabled meters on Tantalus’ TUNet smart grid platform. By detecting anomalies in power quality, the tool identifies symptoms of failing transformers, corroded meter sockets and splices, cracked insulators and other latent equipment problems. The analytics solution leverages data from Tantalus’ advanced metering infrastructure (AMI) to provide utilities with visibility into power quality issues that lead to outages and premature failure of devices deployed across the distribution grid.
• Introduction of a Next-Generation Fiber Gateway: TRUSense™ Fiber Gateway, a next-generation Fiber-to-the-Home (FTTH) solution, is the latest addition to Tantalus’ offerings and allows utilities to leverage investments in fiber to not only improve the resiliency of their distribution grids but also to deliver broadband services to consumers. The solution enables utilities to access granular power quality and consumption data in real time to make their grid more resilient as well as gain access to and control of distributed energy resources deployed at buildings and homes, including electric vehicles, roof-top solar panels, battery walls, and smart appliances.
• Industry Recognition: Tantalus participated as a keynote speaker in the 2021 Cormark Securities Sustainability conference. The Company also participated in a series of other industry conferences throughout the quarter.
• Transactions & TSX Uplisting: On January 29, 2021, Tantalus and RiseTech Capital Corp. (“RiseTech”), a TSX Venture Exchange-listed capital pool company, closed a reverse-takeover transaction and a concurrent financing of approximately CND$10 million. As a result of the transaction, Tantalus commenced trading on the TSX Venture Exchange under the ticker symbol “GRID”. Tantalus graduated to the Toronto Stock Exchange (“TSX”) on May 10, 2021 and continues to trade under the GRID ticker symbol.
• Board of Directors: Tantalus’ Board of Directors was further strengthened with the addition of Mr. Thomas Liston on January 29th, 2021. Mr. Liston currently serves on several Boards of Directors for public and private technology companies and has a strong track record of shareholder value creation.  Prior to his current roles, he was the Chief Investment Officer of a leading technology-focused venture capital firm, which provided growth capital to late-stage private companies.  Mr. Liston began his career as a research analyst covering public software and IT services companies. During his tenure as a technology analyst for over 14 years, Mr. Liston has been consistently ranked amongst the top technology analysts in several surveys, including: StarMine, Brendan Wood, Greenwich Associates and Reuters.

Financial Statements and Management Discussion & Analysis

Please see the unaudited interim consolidated financial statements and related Management's Discussion & Analysis (“MD&A”) for more details. The unaudited interim consolidated financial statements for the three months ended March 31, 2021 and related MD&A have been reviewed and approved by Tantalus' Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed on SEDAR at www.sedar.com and is also available on the Company’s website at www.tantalus.com.

About Tantalus

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.

Contact Tantalus:

Jacquie Hudson
Marketing Communications Manager
Tantalus Systems Inc.
613-552-4244 | jhudson@tantalus.com

Investor Relations:
Linda Armstrong
Investor Relations
647-456-9223 | larmstrong@tantalus.com

Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
Twitter: @TantalusCorp

Non-IFRS Measures

The following and preceding discussion of financial results includes reference to Gross Profit, Adjusted EBITDA and Adjusted Working Capital, which are all non-IFRS financial measures. Management believes that Gross Profit is a meaningful indicator in evaluating the operating performance of the Company and is comprised of revenues less cost of sales.  Adjusted EBITDA is comprised as income (loss) less interest, income tax, depreciation, amortization, stock-based compensation, foreign exchange gain (loss) and other non-core business related income / expenses and is provided as a proxy for the cash earnings from the operations of the business. Management believes Adjusted Working Capital is a meaningful indicator of the operating liquidity available to the Company and is comprised of current assets less current liabilities exclusive of the Company’s bank loan.

Forward Looking Statements:

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release. 

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions.  Forward-looking information in this news release includes statements regarding: the adoption and development of new products and offerings, the ability to attract customers accessing government stimulus funding, the impact of supply chain constraints and the growth of the Company’s user community,

In connection with the forward-looking information contained in this news release, Tantalus has made numerous assumptions, regarding, among other things: the expected impact of COVID-19 and the expected timing of new product introductions.  While Tantalus considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.  Additionally, there are known and unknown risk factors which could cause Tantalus’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.  Known risk factors include, among others: the impacts of COVID-19 are unpredictable and could have significant impacts on Tantalus’ financial performance; sales cycles to Tantalus’ customers can be lengthy and unpredictable and require significant employee time with no assurances that a prospective customer will select Tantalus’ products and services; Tantalus’ financial and operational performance significantly depends on its ability to attract and retain customers and its ability to develop new products and to enhance and sustain the quality of existing products to retain such customers; Tantalus depends on a limited number of key suppliers and if such suppliers fail to provide Tantalus with sufficient quantities of components at acceptable levels of quality and at anticipated costs, Tantalus’ revenue and operating results could be materially and adversely affected; Tantalus has a prior history of operating losses and Tantalus may not sustain profitability on a quarterly or annual basis; Tantalus’ quarterly results are inherently unpredictable and subject to substantial fluctuations; Tantalus’ success depends in part on Tantalus’ ability to integrate its technology into devices and its relationship with device manufacturers; Tantalus’ marketing efforts depend significantly on Tantalus’ ability to receive positive references from Tantalus’ existing customers; the markets for Tantalus’ products and services, smart grid, smart city, and broader IoT technology in general, are still developing - if the markets develop less extensively or more slowly than Tantalus expects, Tantalus’ business could be harmed; Tantalus operates in a highly competitive industry and Tantalus competes against many companies with substantially greater financial and other resources, and Tantalus’ market share and results of operations may be reduced if Tantalus is unable to respond to competitors effectively; Tantalus is dependent on the utility industry, which has experienced volatility in capital spending - this volatility could cause Tantalus’ results of operations to vary significantly from period to period; Tantalus’ reliance on certain infrastructure and information technology systems make it vulnerable to the potential adverse effects of cyber-attacks and other breaches; if Tantalus’ products contain defects or otherwise fail to perform as expected, Tantalus could be liable for damages and incur unanticipated warranty, recall and other related expenses, Tantalus’ reputation could be damaged, Tantalus could lose market share and, as a result, Tantalus’ financial condition or results of operations could suffer; the nature of Tantalus’ business exposes it to the unpredictable risks of contractual disputes; the loss of key employees and the inability to attract and retain qualified personnel could harm Tantalus’ business; Tantalus’ business is exposed to potential risks associated with international sales and operations; foreign exchange rate fluctuations could harm Tantalus’ results or operations; Tantalus and its customers operate in a highly regulated business environment and changes in regulation could impose costs on Tantalus or make Tantalus’ products less economical; Tantalus’ inability to acquire and integrate other businesses, products or technologies could seriously harm Tantalus’ competitive position; intellectual property infringement claims could be costly and time-consuming to prosecute or defend; substantially all of Tantalus’ current products depend on the availability and are subject to the regulation of radio spectrum in the United States and abroad; and interruptions or delays in services from Tantalus’ third-party data center facilities, or problems with the third-party hardware or software that Tantalus employs, could impair the delivery of its services and harm Tantalus’ business.

A more complete discussion of the risks and uncertainties facing Tantalus is disclosed under the heading “Risk Factors” in the Tantalus’ Filing Statement dated January 28, 2021, as well as the MD&A included with Tantalus’ continuous disclosure filings with Canadian securities regulatory authorities available at www.sedar.com.  All forward-looking information herein is qualified in its entirety by this cautionary statement, and Tantalus disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Duke Energy (NYSE: DUK) announces the launch of Duke Energy Sustainable Solutions, a new commercial brand that unifies products and services offered by several Duke Energy subsidiaries, including Duke Energy Renewables, REC Solar and Duke Energy One, under one comprehensive brand.

Duke Energy Sustainable Solutions offers customized clean energy and resilient infrastructure solutions at scale for private and public companies, government-led organizations and educational institutions nationwide. The new brand marks a significant step forward in connecting customers with innovative, future-focused sustainable energy solutions that will create real change for businesses and communities today and for years to come.

The organization leverages Duke Energy’s deep industry experience to deliver the sustainable energy solutions customers need and want, while empowering them to run stronger, more resilient operations that will help them meet their resiliency, sustainability and clean energy goals.

“We know customers are looking for energy solutions that can create real change in our communities while helping their bottom line,” said Chris Fallon, president, Duke Energy Sustainable Solutions. “We’re combining decades of experience in project development, operations and financing to design innovative solutions that fit within customers’ existing infrastructure or create new renewable energy or resiliency solutions that will address their needs and help them achieve their sustainability goals.”

From financing to planning, and construction and installation to management, Duke Energy Sustainable Solutions offers advanced technology and the latest breakthroughs to create smart and sustainable solutions, empowering companies to make a measurable impact, help reduce emissions and gain resiliency with future-focused solutions tailored to their business model, industry and specific location.

“Over the last several years, it’s become clear to us that customers would benefit from a strategic partner that can evaluate their sustainability, resiliency and ESG goals on a holistic level,” said Robert Vary, senior vice president, sales and relationship management at Duke Energy. “Duke Energy Sustainable Solutions lets us provide customers with a comprehensive approach to sustainability and resiliency, whether that be microgrid solutions, backup generation or power purchase agreements for on premise or utility-scale solar or wind. We evaluate our customers’ needs and design unique solutions that will help meet their overall goals.”

To learn more about Duke Energy Sustainable Solutions, visit: https://sustainablesolutions.duke-energy.com

Media Contact – Duke Energy
Jennifer Garber
24-Hour: 800.559.3853

Lübeck, Germany – Concentrations of hazardous substances in the ambient air at the workplace should not exceed specified limit values. Monitoring these sometimes very low values is a demanding task. The focus of the Dräger X-act 7000, in combination with the Dräger MicroTubes for different gases and vapors, is to measure carcinogenic and toxic substances in the lower ppb range. The range of gases to be measured is being constantly expanded. The measurement-sensitive system of the X-act 7000 is based on colorimetric chemical sensor technology and measures even the lowest ppb concentrations. It can replace conventional laboratory analysis and delivers exact reliable results directly on site. False-positive measurement results and false alarms can be largely reduced. This saves time and costs and is easy to use.

Ex-protected and ready for use
The RFID tags applied to the Dräger MicroTubes contain all the calibration data that is valid for the typical period of use of one year. Complex functional tests and manual calibration procedures are no longer necessary. All possible temperature and humidity influences are already taken into account during factory calibration. The analyzer is explosion-proof and certified in accordance with ATEX/IECEx for zone 0. In addition, the system is IP54 protected against dust and splash water. It also meets the requirements of electromagnetic compatibility according to EN 61326-1.

Easy to use
After an automatic self-test, the X-act 7000 analysis system is immediately ready for use. The user controls the measurement task via the 3-button operation unit and the 2.4-inch color display. The measurement result, location and time can be stored in the internal data logger and read out with the Dräger CC Vision software. Power is supplied by five easily replaceable batteries. The battery capacity is sufficient for more than ten hours of measuring and is indicated on the display. The Dräger X-am pump can be adapted to the X-act 7000 by a connecting piece. This makes it possible to measure carcinogenic and toxic substances in the ppb range possible even in inaccessible locations such as canals, ducts or tank facilities up to a distance of 45 meters. Since the X-am pump also has explosion protection certification for zone 0, it is ideally suited for these applications.

The X-act 7000 is manufactured by Dräger
Dräger is an international leader in the fields of medical and safety technology. Our products protect, support and save lives. Founded in 1889, Dräger generated revenues of around EUR 2.8 billion in 2019. The Dräger Group is currently present in more than 190 countries and has more than 14,500 employees worldwide. Please visit www.draeger.com for more information.

Note: Not all of the products named in this press release are available worldwide. Equipment packages can vary from country to country. We reserve the right to make changes to products. Up-to-date information is available on the Dräger website of your country or from your Dräger representative.

By Pete Londa

The recent winter storm in Texas left dozens of people dead, more than 3 million people without power, and nearly 15 million people with undrinkable water, damaged homes and economic distress from high energy bills. Damage from this storm is astonishing and estimated to cost between $195 billion and $295 billion, making it the most costly disaster in the state’s history—far surpassing the $125 billion in damage caused by Hurricane Harvey. Even now, millions of people are still processing this unprecedented tragedy. Public outcry has led to changes within the leadership team of the Electric Reliability Council of Texas (ERCOT). Additionally, the state has witnessed an electric cooperative utility declare bankruptcy, and the reports of looming power bills that will overwhelm families and businesses for months to come are frightening. Investigations are underway as Texas residents struggle to recover, rebuild, and reconcile how this could have possibly happened.

While Texas recovers from the devastation, we all need to ask ourselves a very important question . . .  how can we be better prepared when Mother Nature strikes again? The tragic issues that unfolded go well beyond the specific power market dynamics and regulatory structure within Texas. Shame on us if we shrug our shoulders and point to the power market in Texas—which is different from the rest of the United States. Instead, Federal and state politicians, utilities and communities across the country need to work together to re-engineer the existing power grid and transform our infrastructure to be more resilient in the future.

Extreme Weather Events Are On the Rise
The first step to preventing this type of disaster from recurring is to recognize that extreme weather events like the one in Texas are increasing in frequency and ferocity—and they can happen anywhere.

A study last October found that the frequency of climate-related disasters has skyrocketed 83% over the past 20 years. Major floods have more than doubled. The number of severe storms has grown by 40%. Droughts and wildfires like the ones in California and Oregon as well as heatwaves and deep freezes are all on the rise, and the same report concludes that the time is now to prioritize disaster prevention and preparedness.

Texas seems to have come to the same conclusion for itself, even before last month’s storms hit. In the wake of Hurricane Harvey in 2017, which brought rainfall in excess of 60 inches in some places, scientists there concluded that climate change worsened the flooding in Texas, and made a Hurricane Harvey-sized storm at least three times more likely to happen again. And the scary truth is, the vast majority of our nation’s power grid just isn’t ready to withstand Mother Nature’s wrath.

Our Aging Electric Infrastructure Is Not Ready
The meteoric rise of extreme weather events makes a tough situation worse. A recent study by Climate Central found that extreme weather events have caused a 67% increase in power outages since 2000. When the temperatures are below freezing or above 100 degrees Fahrenheit, when there is a fire raging nearby, or when a community is facing flash flooding or dangerous wind gusts, power outages can turn deadly very quickly. We’ve seen all these extreme scenarios throughout 2020 and into this year.

In other words, what happened in Texas isn’t likely to stay in Texas. Utility infrastructures across North America are unprepared for the next natural disaster, wherever it strikes. In November of 2018, the U.S. government’s Fourth National Climate Assessment found that the nation’s energy system is projected to be increasingly threatened by more frequent and longer-lasting power outages due to extreme weather events. Additionally, an Accenture study conducted earlier this year found that 90% of all utility executives believe that an expected rise in severe weather will lead to even more outages, which poses an unacceptable risk to their grids, their businesses and their ability to serve their communities.

Any single event is bad enough. But as we’ve learned from the COVID-19 pandemic, we’re all increasingly interconnected and what happens in one region impacts what happens in another. For example, the power outages and deep freeze in Texas resulted in delayed shipments of the coronavirus vaccine. We can expect further disruptions to supply chains and  telecommunications services which will impact an increasing number of employees (even those working remotely) as these kinds of disruptions continue. Additional disruption from power outages is the last thing we need as we struggle to overcome a global pandemic, restart a crippled economy and focus on bare essentials like getting back to work, getting our kids back to school, feeding our families and trying to pay bills.

Investments in Resilient Infrastructure Must Increase
The majority of today’s energy infrastructure in North America is more than 50 years old—and includes equipment that has already exceeded its life expectancy. So even under the most ideal set of conditions, our electric grid is challenged. What’s more, the old generation power grid was never designed to handle the kind of demand and technology prevalent across the country today. The grid was originally engineered as a one-directional system—power gets generated, power gets transmitted, power gets delivered, and power gets consumed. It was never designed to handle sources of generation such as rooftop solar, battery storage, and electric vehicles deployed at the premise or at the edge of the grid.

With an antiquated one-way system, utilities have to send crews out during extreme weather events to determine where the power is down and what is unfolding across their grids. Even worse, utilities typically have to wait to triangulate calls from customers complaining that power is out at their home, business or plant. We live in a world where we get frustrated by abbreviated timing delays while we wait for webpages or content to load on our mobile devices. Why should we rely upon an antiquated system that handicaps the hard-working executives and employees of utilities across North America who are responsible for keeping our lights on when it matters the most? Would those of us with the luxury of accessing high-speed broadband services in our homes, places of work and on our phones be willing to revert back to dial-up internet service from our cable and telecommunication providers?  

In essence, relying on a 50-year-old power grid to handle today’s energy demand and complex challenges is like trying to operate the Internet using Morse code. It just doesn’t make sense. What we need is a smart grid that operates as a modern network of connected devices, capable of accessing critical data to provide visibility into what’s unfolding at the edge of electric grids.
This is why billions—and even trillions—of dollars are slated to be spent to get us ready, as quickly as possible, for the next generation of severe weather events. A study conducted by the G20 Global Infrastructure Outlook projected that governments across the world are estimated to spend $28 trillion over the next 20 years through 2040 to transform the electric grid.

Another report from the American Society of Civil Engineers last September concluded that unless the U.S. invests more in its energy infrastructure than currently being spent, we can expect even more costly outcomes from power outages, including:

• $637 billion in business losses from 2020 to 2029;
• Total output losses of nearly $3 trillion by 2039;
• Cumulative GDP will fall by $394 billion by 2029 and by more than $1.7 trillion by 2039, as the result of lost income for workers and business owners; and,
• 287,000 jobs are projected to be lost by 2029, rising to 540,000 by 2039.

If we’re going to avoid these unacceptable outcomes, we’ve got to help the people on the front lines—utility personnel—by providing them with better options, better choices, and better solutions that put them in the best possible position to respond as the crisis is happening, because that’s where positive change is going to start.

A Utility GM’s Playbook
It’s easy enough to look back at a series of tragic events and diagnose what went wrong and what should have happened differently. But when you’re the general manager of a utility in the thick of a natural disaster of biblical proportions, it’s a tough challenge even for the most seasoned industry veterans.

When initiating plans to respond to massive outages and storm damage, a utility GM needs to ensure that his employees are safe and available to respond to the disaster. Utility teams need to be able to assess what can be accomplished remotely and where crews need to be deployed to resolve problems in the field. This is where automated systems and resilient data connections to devices deployed at the edge of an electric grid are game changers.

After evaluating the situation and finalizing action plans, which in many cases requires Herculean efforts by crews and staff members working around the clock, utility executives need to assess whether their disaster response plan can be implemented. Nobody in Texas ever anticipated the sub-freezing temperatures that shut the grid down across the state. So, in the face of unprecedented circumstances, utility leaders have to ascertain what portions of a disaster preparedness plan still apply and what new protocols need to be put in place ASAP. This is where experienced leaders and trusted technology partners who’ve been through these kinds of disasters before are absolutely essential.

In finalizing plans, utility executives also need to assess the damage—immediately. How many people are out of power? How many are at risk for losing power? How is the electric grid holding up? What’s the impact to critical infrastructure and facilities such as hospitals, emergency response systems and crews, water and gas systems? This is where modern-day outage managements systems and advanced metering infrastructure (AMI) solutions make a huge difference.

Once utility executives get a handle on the extent of the damage, they have to find the fastest path to getting the power back on before people’s safety and welfare are compromised. That’s especially important in an ice storm or a wildfire, where the clock is ticking—and this is where it gets especially tricky. How does a utility know how to prioritize responses? How will the utility coordinate with other agencies for an intelligent, cohesive response? Again, real-time data from the edge of the grid makes all the difference here.

Within minutes of a major outage occurring, utility executives know that they’re going to get a call from a mayor, a governor, or some other agency who’s responsible for protecting lives and livelihoods. They’re going to get questions that need quick answers. How bad is it? How long until the power’s back on? What do we do next? In that moment, the only way a utility executive can partner effectively with other agencies and lead the way out of the crisis is with real-time insights—and the flexibility to balance load and respond as quickly as possible.

Fortunately, we’re already seeing a massive adoption of smart grid solutions among utilities all across North America—along with a growing sense of resilience, confidence and control.

Smart Upgrades Are Already Underway
My team and I are privileged to work with some of the most progressive and purpose-driven public power and electric cooperative utilities in the world. They’re shining examples of how utilities can lead the way toward a safer, more resilient, and more sustainable future. Here are just a few of the innovations they are already leveraging—innovations that we and our network of partners are proud to provide—all of which can help utilities prevent and prepare for the tragedy we just saw unfold in Texas.

Remote disconnect meters
Instead of cutting power to entire cities or neighborhoods, utilities with the right technology at their disposal can disconnect rolling groups of customers at their meters to shed immediate demand without compromising the integrity of the entire system. Load can be prioritized and shared. Utilities can systematically protect infrastructure and people by proactively connecting and disconnecting power at the premise with the push of a button. Traffic lights can continue operating, essential services can retain power and customers requiring access to vital medical equipment can be prioritized to keep them safe and healthy.

Load management
With comprehensive load management systems, utilities can access and control non-critical applications and/or manage the load profile within homes, buildings and plants to provide some level of service and avoid putting individuals and property at increasing risk. Utilities can manage water heating and provide limited space heating to keep pipes from freezing while keeping the lights on and the water pumps running. Load management can also control commercial loads and bring backup generators online. And while load management normally focuses on help utilities manage peak hours, it can also be used intensively during disasters until the supply of electricity is fully restored.

Voltage reduction
Many utilities already reduce demand during a disaster with voltage reduction. The challenge is making sure a utility does not go too low for some customers, which is harder than it may seem. For that reason, many utilities don’t reduce their voltage as much as they could. But with real-time voltage feedback from the edge of the electric grid, utilities can run the lowest possible voltage while ensuring every customer stays within acceptable limits. And if a utility has to go for a deliberate “brownout”, they can still safely manage voltage across the system. Either way, real-time feedback ensures the best results.

Streetlight control
If a utility needs to opt into a blackout or reduce demand even further, streetlight control is a useful load reduction tool. Several of our customers are taking advantage of lighting control systems that can turn off lighting in low traffic areas and dim lighting everywhere else. In an emergency, every little bit of control helps.

Storm readiness solutions
By transforming their distribution grids, utilities can give themselves more options for ensuring their systems are balanced, stable and resilient before the next big storm hits. With the right data analytics, they can make sure they’ve trimmed the right branches and replaced failing transformers before they need to deal with unusually high loads. By using granular data from the edge of the grid, utilities can make sure their systems are on firm footing ahead of time.

Accelerated storm response
When disaster strikes, seconds count. Many of the utilities we work with are using extensive real-time outage notifications to pinpoint where crews need to go and what they’ll be dealing with when they get there. Fast restoration notifications confirm quickly that a crew can move from one location where a repair has been completed to the next trouble spot or identify the next downline fault that needs to be resolved in a prioritized and systematic manner. With the right sensors in remote places and the right data analytics, utilities can improve outage prediction and response, know exactly what’s going on, and get back on track quickly and safely.

What’s Next for Utilities
The bottom line is that utilities need to be able to respond faster to increasingly frequent and extreme weather events. When Mother Nature strikes again—and she will—utilities will need the tools to make informed choices. It’s the only way to avoid those impossible decisions, such as shutting off power to entire areas, resorting to price gouging, or even worse, flying blind in the face of disaster.

And it’s not just extreme weather that’s driving the need to evolve. Consumer expectations and consumption patterns are shifting rapidly, as well, along with disruptive new technologies such as electric vehicles, solar power and the proliferation of new distributed energy resources.  

The need is clear. The solutions exist. And together with our customers, our partners, and our employees, we see a path forward to a brighter future for our nation’s electric grid, the utilities that operate it and the communities they serve.

For more information about Tantalus and our solutions, visit www.tantalus.com.

Weakley County Municipal Electric System used Bellwether Management Solutions as Contractor on our AMI Project. Bellwether installed almost 20,000 meters during our 12-month installation process.

We were very pleased with the quality and quantity of work that Bellwether performed. The employees were easy to work with and managed our project well. I was particularly impressed with how few complaints we received from our customers, even though we had no advance informational campaign. The few complaints we received were very minor and were resolved to the customers' satisfaction in a timely manner by the Bellwether staff.

I am happy to give Bellwether a very favorable reference.

Faron L. Collins
General Manager
Weakley County Municipal Electric System, Martin, TN