Tantalus Launches TRUGrid(TM) Transformer to Accelerate Grid Modernization

Multiple utilities harness the power of data through AI-enabled analytics to optimize grid performance and extend the life of transformers

Burnaby, British Columbia--(Newsfile Corp. - February 7, 2024) - Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping utilities harness the power of data, today announced the commercial launch of its data analytics capability, TRUGrid™ Transformer, which is actively being deployed by a growing number of utilities across North America. TRUGrid Transformer is an expansion of Tantalus' TRUGrid Automation suite of AI-enabled data analytics. This offering enables utilities to access, analyze and visualize up to 36 months of data from transformers across the grid to not only detect voltage issues, such as sags and swells, but also to identify anomalies in real time from changing weather patterns and evolving consumer behavior.

By harnessing this level of data, TRUGrid Transformer empowers utilities to constantly monitor, anticipate and prioritize transformer issues and sizing as consumers install an electric vehicle (EV) charger at their home or otherwise change their consumption of electricity. TRUGrid's data analytics capability also allows utilities to react intelligently and rapidly to events that threaten the stability of the grid. The benefits include preventing or mitigating catastrophic outages, tracking loading on transformers and navigating crippling supply chain constraints that have led to extended lead times for new transformers.

Transformer management through data analytics is increasingly in demand as utilities are facing a massive shortage and extended lead times for these critical infrastructure assets. According to research firm Wood Mackenzie, average wait times for new transformers have increased from 115 weeks in 2021 to 130 weeks in 2023. In response, several utilities are leveraging TRUGrid Transformer analytics to accelerate grid modernization and mitigate the risks of not having enough transformers available to operate their grids prudently and effectively.

"When transformers go down, utilities face outages, safety issues, costs and negatively impact their customers. Unfortunately, transformer failures are a question of when - not if - these costly disruptions will impact operations," said Peter Londa, President and CEO of Tantalus. "Our TRUGrid Transformer analytics solution delivers the visibility, command and control utilities need to get ahead of this issue and avoid running these critical assets right up to or beyond a point of failure. This capability is yet one more example of how Tantalus is helping utilities modernize their distribution grids by harnessing the power of data."

As an integral part of the Tantalus Grid Modernization Platform™ (TGMP™), TRUGrid Transformer's intuitive map visualization allows utilities to select and view individual transformers, identifying the at-risk units likely to cause a problem. In addition, deep diagnostic tools show how much a transformer is being loaded and when it absolutely must be replaced with a new unit that is properly sized. This information allows utilities to avoid the costs, disruptions in service and safety issues associated with transformer failures. Additionally, utilities can proactively plan how best to manage and upgrade their assets.

"Tantalus' TRUGrid Transformer solution helped us identify multiple residential and commercial accounts that had incorrect PT and/or CT multipliers," stated Bryan Smith, Technical Services Supervisor at NineStar Connect. "By correcting these issues, we were able to recover a significant amount of lost revenue as well as put processes in place to ensure this does not happen again. Essentially, TRUGrid Transformer paid for itself in a very short period of time."

The TRUGrid Transformer solution is suited for the growing number of utilities that are seeking to use data analytics to improve their grid reliability and resiliency. Tantalus is offering TRUGrid Transformer as a Software-as-a-Service (SaaS) subscription to investor-owned utilities, public power utilities and electric cooperative utilities across the United States, Canada and the Caribbean basin.

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, functionality and effectiveness of TRUGrid Automation, TRUGrid Transformer and TGMP, the increasing challenges in acquiring power transformers, the risks of transformer failure, the increasing need for solutions targeting transformer management 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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197073