BURNABY, BC – March 23, 2023 – Tantalus Systems (TSX: GRID) (“Tantalus” or the “Company”), a smart grid technology company focused on helping build sustainable utilities for the future, is pleased to announce it has executed a partnership agreement with PayGo®, a payments technology company offering a fully integrated utility billing and payments system (“PayGo Cloud CIS”) as well as a comprehensive prepay solution (“PayGo Prepay”). The combined offering will enable utilities to offer improved customer service and flexible payment solutions to the communities they serve.
PayGo Cloud CIS is a single solution for prepay, post-pay, and payment processing. PayGo Prepay is a standalone complement to a utility’s existing CIS that helps customers reduce consumption, pay off debt, and budget for their utility bills. Utilities contemplating a future CIS replacement can deploy PayGo Prepay initially and evolve to PayGo Cloud CIS over time.
“The digital transformation of customer experience drives behavioral change and sustainability outcomes through more mindful and efficient use of electricity, water and gas,” said Jeff Weiser, CEO at PayGo. “Leveraging our integration and partnership with Tantalus will enable utilities to support their customers by providing a number of options to pay for vital services. We are excited to join Tantalus and present our solutions at their Users Conference from April 3rd to 6th in Louisville as a Gold Sponsor.”
Through the partnership between Tantalus and PayGo, utilities will be empowered to leverage the granular interval data captured and analyzed through their TUNet® smart grid platform to improve their customer service by enabling consumers to budget for their usage of electricity, water and gas. By deploying the joint solution, utilities will also be able to mitigate risks associated with collecting fees from their consumers and reconnecting vital services for those customers in arrears.
“The data captured and analyzed through Tantalus’ smart grid platform provides utilities with visibility into the evolving consumption patterns of consumers, which helps improve system planning efforts as the reliability of their distribution grid comes under increasing pressure due to extreme weather patterns and supply chain constraints impacting the availability of critical infrastructure,” said Peter Londa, President & CEO of Tantalus. “By integrating TUNet with PayGo’s offerings, utilities will be able to proactively educate their consumers on usage and improve the return on the investment being made to upgrade metering infrastructure.”
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 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.
About PayGo
PayGo® is a utility-focused software and payments technology company. Our platform delivers flexible billing and payment solutions that enable America’s largest investor-owned and public power utilities to enable higher customer engagement and improve revenue assurance. Utility customers experience greater control in how they manage and pay for their energy and water spend, along with ways to reduce consumption. More information is available at www.paygoutilities.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, adoption and effectiveness of TUNet, the PayGo solutions and the integration between the Tantalus and PayGo offerings, the pressures facing utilities relating to extreme weather and supply chain constraints, 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.
