The company’s growth in 2017 solidifies its place as a market leader in grid modernization
RALEIGH, NC – March 28, 2018 —Tantalus Systems, a smart grid technology company that helps utilities make smarter decisions, announced today that 24 additional Municipal and Cooperative utilities, representing over 365,000 electric meters, selected the company as its advanced metering infrastructure (AMI) and grid modernization partner. The Tantalus Utility Network (TUNet©) system is now deployed on over two million active smart grid-enabled endpoints across more than 150 electric and multi-commodity utilities throughout North America, the Caribbean Basin and Central America. TUNet combines a powerful communications network with robust distributed computing to deliver near-real-time, actionable data from across a utility’s distribution grid. In addition to the two million active electric endpoints, Tantalus also supports meter reading of over 200,000 water and gas meters across the company’s customer base.
Over the past several years, Tantalus secured its place as a market-leading partner for the Municipal and Cooperative utility segment. In addition to the strong growth in its customer base in 2017, Tantalus secured 23 utilities representing 350,000 electric meters in 2016 as new customers. By adding 47 new Municipal and Cooperative utilities over the past 24 months, Tantalus continues to demonstrate its unique ability to deliver a valuable solution that meets the needs of this important market segment within the electric, water and gas utility industry. As part of this strong growth in market share, Tantalus’ growing customer base is also integrating multiple solutions onto the TUNet network, including distributed energy resource management, grid optimization and streetlight control to modernize their grids and communities.
“Tantalus’ mission centers around the delivery of technology that improves the reliability, operating efficiency and profitability of utilities,” said Peter Londa, CEO of Tantalus. “We strive to help utilities develop a sustainable business model to support the needs of their respective communities. To witness such rapid growth in our customer base is a testament to our company’s ability to deliver a differentiated solution that meets the specific needs of the market segment we are pursuing.”
“As modern utilities are challenged to compete amid economic and regulatory constraints, smart grid solutions are an important tool to keep operating costs low and customer satisfaction high,” said Pavel Molchanov, senior vice present and equity research analyst at Raymond James. “Even after consolidation in recent years, the smart grid technologies arena remains crowded. The deployment numbers that Tantalus has secured solidify its place as one of the leaders among private companies in the space.”