Company Forecasts 20% - 25% Revenue Growth in 2022 With Record Revenue Backlog of US$27M for the Year

BURNABY, BC – February 8, 2022 – Tantalus Systems (TSX: GRID) (“Tantalus” or the “Company”), a company focused on helping build sustainable utilities for the future, is pleased to announce 2021 operating and preliminary financial results for 2021 along with an improving outlook going into 2022 as utilities accelerate smart grid investments.

“We are extremely pleased to provide this update to our shareholders as Tantalus’ business has never been stronger as evidenced by the year-over-year growth in our orders by 27.5%, expansion of our user community by 25 utilities in 2021, accessing over CAD$20 million through two financings as a public company and entering 2022 with our highest level of revenue backlog to commence a year,” said Peter Londa, President & CEO of Tantalus. “Looking forward to this year, we anticipate strong revenue growth with approximately US$27 million in revenue backlog for 2022, coupled with strong secular drivers that are requiring utilities to modernize their distribution grids. Our strong balance sheet enabled us to execute the recently announced acquisition of Congruitive which places Tantalus at the forefront of helping utilities prepare for the significant impact that electric vehicles and distributed energy resources will have on their resiliency and reliability. We believe Tantalus is well-positioned to provide our shareholders with a long trajectory of growth for our business.”

2021 BUSINESS HIGHLIGHTS

Commercial Success

• The Company delivered US$37.5 million in orders converted from its sales pipeline, representing year-over-year growth of approximately 27.5%, an annual record for the Company.
• Tantalus grew its user community to approximately 210 by securing 25 new utilities in 2021. The Company surpassed the average number of new utilities, 20, secured on an annual basis over the last 7 years.
• The Company surpassed 2.8 million endpoints deployed, collecting more than 30 billion data points related to energy consumption and power quality. Within its existing user community, the Company has over 1.6 million available endpoints to deploy in the future that will drive revenue and additional data for its expanding software and analytics packages.
• Tantalus hosted its largest annual users conference (virtually) with over 400 attendees from more than 100 utilities and gathered valuable insight into the key challenges that will enable the Company to prioritize goals within its strategic plan and solutions roadmaps.

CLICK HERE to read the full press release.

Acquisition Will Help Utilities Prepare for the Impact of EVs and DERs

BURNABY, BC – February 1, 2022 – Smart grid technology leader Tantalus Systems (TSX: GRID) (“Tantalus” or the “Company”) today announced its acquisition of DLC Systems, Inc. d/b/a Congruitive (“Congruitive”) for a purchase price that includes US$8 million of closing consideration and up to US$5 million through a two-year earn-out. Congruitive will become a wholly owned subsidiary of Tantalus’ US operating subsidiary.

 Congruitive is leveraging multi-decade relationships with utilities through its substation automation expertise to deliver its signature software solution, Congruence.IQ™ (“C.IQ™”), which is a software platform that enables the interoperability of a wide range of devices through an emerging Institute of Electrical and Electronics Engineers (“IEEE”) standard. By deploying C.IQ, a utility’s smart grid deployment can operate as one intelligent, interoperable system, with the necessary scalability and flexibility as more electric vehicles (“EVs”) and distributed energy resources (“DERs”) are deployed at the edge of the grid. Congruitive is currently selling its C.IQ software to investor-owned utilities (“IOUs”), smart meter vendors and renewable power integrators.

 “This acquisition serves as a further demonstration of Tantalus’ purpose-driven mission to help utilities become sustainable from an enhanced financial, operational and environmental perspective,” said Tantalus President and CEO, Peter Londa. “Having C.IQ as part of our solution allows us to help public power and electric cooperative utilities prepare for the impact that an increasing number of EVs and roof-top solar panels will have on the reliability of their distribution grids. We are delighted to announce the closing of this acquisition today, and we welcome Congruitive’s employees, customers and partners to Tantalus.”

CLICK HERE to read the full press release.

Sonoma Clean Power Authority (SCP) issued a Request for Proposal (RFP) on January 4, 2022, to solicit proposals from qualified and experienced individuals or firms (Proposer) to partner and implement enhancements to SCP’s demand response (DR) program. 

SCP now issues this Addendum to the RFP.

The RFP timeline remains the same with Proposal packages due February 16, 2022, by 5:00 PM PST.

More Information:

The RFP is posted on SCP’s Solicitations & Business Opportunities webpage.

Sonoma Clean Power Authority (SCP) issues this Request for Proposal (RFP) to solicit proposals from qualified and experienced individuals or firms (Proposer) to partner and implement enhancements to SCP’s demand response (DR) program. 

Minority-owned, women-owned, and locally-headquartered businesses are encouraged to respond to this RFP.

RFP Timeline- Events & Deadlines:

• RFP Published – January 4, 2022
• Deadline for written questions to be submitted – January 19, 2022
• Responses to questions to be posted on SCP website – January 27, 2022
•  Proposal packages due – February 16, 2022, by 5:00 PM PST
• RFP Submission review complete – February 28, 2022
• Target Date for Interviews –March 7- March 11, 2022

 Background:

SCP currently offers an automated demand response (ADR) program (named GridSavvy) to all customers with qualifying technology. Information regarding SCP’s GridSavvy program may be found at sonomacleanpower.org/programs/gridsavvy. GridSavvy has focused on enrolling and activating customers with program-installed electric vehicle charging equipment, program-installed smart thermostats, bring-your-own-device smart thermostats, and heat pump water heaters.

SCP’s goal is to cost-effectively scale the GridSavvy program to a minimum of 5 megawatts (MW) of demand response and load shifting capacity in SCP territory during the contract term, with the intent to continue scaled annual growth.

Notice:

This RFP does not commit SCP to enter into a contract, nor does it obligate SCP to pay for any costs incurred in the preparation and submission of a proposal or in anticipation of a contract.

Questions:

If you have any questions, please ensure to submit them by January 19, 2022, by emailing [email protected] with the subject line clearly marked “Demand Response Partner - RFP.”

Submittal Process: 

One copy of the submittal should be emailed to [email protected] with the subject line clearly marked “Demand Response Partner - RFP”. Upon submittal, you will receive a confirmation of receipt. Mailed, hand-delivered, or faxed submittals will not be accepted.

More Information:

The RFP is posted on SCP’s Solicitations & Business Opportunities webpage.

CLICK HERE to read the full RFP.

What is an Energy Efficiency Evaluation Analyst?

An Energy Efficiency Evaluation Analyst supports the New York Energy Efficiency programs available to our customers in the Mid-Hudson Valley region. Analysts are responsible for the planning, implementation and evaluation of energy efficiency and demand response programs including compilation and analysis of important program metrics and reporting to key stakeholders. Additionally, Analysts are responsible for energy savings calculations and other technical computations. Title/level is commensurate with experience.  

What does an Energy Efficiency Evaluation Analyst do?

• Analyzes data, assesses energy efficiency & demand response implementation processes, and oversees quality assurance protocols and procedures

• Researches new cost-effective measures and program enhancements to offer to customers and conducts cost-effectiveness analyses to assist in the planning of energy efficiency programs

• Performs energy computations including the ongoing evaluation of methodologies within the New York State Technical Resource Manual

• Oversees process, impact, baseline, potential, market saturation, and other related studies

• Tracks monthly expenditures and savings for all energy efficiency programs

• Forecasts and tracks Earnings Adjustment Mechanism potential

• Collaborates with the Joint Utilities and NYSERDA on statewide evaluations and benefit cost analyses

• Provides support to develop budgets for all proposed energy efficiency programs to ensure management has access to up to date and accurate information 

• Participates in measure reviews as an active member of the New York State Technical Resource Manual Management Committee

• Supports the day-to-day relationship with contract or external service providers including negotiation, interpretation, and application of established contractual agreements and/or service level agreements to ensure adherence to standards and best outcomes for Central Hudson

• Participates in regulatory efforts related to pre-approval filings, shareholder incentive filings, results reporting, etc. including participation in technical sessions, hearings, and preparing responses to information requests

• Develops regulatory filings such as the System Energy Efficiency Plan through interaction with program implementation group and represents the company's position throughout the regulatory process

• Assists with pre-approval filings, program design, implementation/operations, evaluation efforts, reporting, and regulatory oversight

• Represents Central Hudson at community events

• Supports storm/emergency restoration efforts
  
  

CLICK HERE to read the full job description and apply.