Company poised to become one of the fastest growing Smart Grid platform providers for public power
RALEIGH, N.C., — March 24, 2015 — Tantalus, provider of TUNet, an award-winning smart grid communications network and applications platform, announces that following back-to-back years of more than 50 percent revenue growth, it has expanded its customer base by adding more than 30 municipal and cooperative utility customers over the last two years. Following the successful release of its newly enhanced TUNet platform, the company is focused on expanding its offering of data-intensive real-time applications such as prepaid metering, conservation voltage reduction and load control to meet growth projections for 2015.
“Tantalus remains dedicated and committed to serving the operational needs of public power utilities, consistent with our initial strategy since our entry into this sector more than a decade ago,” remarked Peter Londa, president & CEO. “Our impressive growth of more than 30 new utility customers can be attributed to the optimal match between our utility centric TUNet platform and the forward thinking municipal and cooperative utilities who have adopted TUNet to meet ambitious automation, conservation and operational cost-saving goals. Now, with a solid foundation of more than 1.1 million devices on the TUNet platform, Tantalus is positioned to expand its offering with applications that fully utilize our embedded distributed computing platform which is integrated at every endpoint.”
Additional investments in leadership and resources in customer operations, product marketing and engineering have resulted in the development of regionally-based field support teams, expanded IT and data center facilities and the adoption of enhanced product delivery processes. These developments support the rapid market acceptance of TUNet to strategically overlay existing electric, water and gas ERT (Encoder Receiver Transmitter) deployments. This overlay allows utilities to continue to utilize installed bases of mobile and drive-by ERT meter infrastructure through a cost-effective two-way wireless network. Since its release during Q4 of 2014, this overlay solution has been adopted by 17 municipal and cooperative utilities across North America. To date, TUNet is remotely collecting and delivering daily and hourly interval meter reads from more than 10,000 legacy ERT devices into integrated utility systems such as MDMS and CIS for dynamic analysis.
“In 2005, Tantalus was ahead of the curve in terms of technology development and its willingness to work with us to anticipate the types of challenges that we might face in the future,” said Andrew Mitchell, engineering supervisor for Northeastern Rural Electric Membership Cooperative. “Now, a decade later, it is gratifying to see the successful result of NREMC choosing a partner that has grown to be one of the most successful AMI smart grid providers to the public power and cooperative utility industry. ”
In support of its continued growth, Tantalus recently expanded its corporate headquarters in Vancouver, British Columbia, Canada. The new facilities offer 50 percent more square footage, much of which has been allocated for state-of-the-art product testing facilities, customer technical training facilities and modernized engineering labs. Tantalus will continue to expand its leadership team in key functional areas to further drive growth in North America as well as strategic expansion into the Caribbean and Latin American markets.
Tantalus provides a two-way, real-time data communications network platform to monitor and control electric, gas and water utilities. TUNet® – the Tantalus Utility Network – is an end-to-end WAN/LAN/HAN communications system that operates with 220 MHz RF, 900 MHz RF, and IP-based networks including Fiber, WiMAX and GPRS/cellular, either individually or in combination. TUNet’s patented and patents pending technologies are purpose built for the Smart Grid and unite utility applications through distributed computing capability. The result is near real-time advanced metering, outage management, power quality monitoring, load control, and distribution automation applications that are both cost-effective and practical to deploy throughout urban and rural service areas. For more information, please visit www.tantalus.com.