00:38:42 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Tantalus Systems Holding Inc
Symbol GRID
Shares Issued 44,595,942
Close 2024-02-21 C$ 0.84
Market Cap C$ 37,460,591
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Tantalus forms partnership with GE for real-time data

2024-02-22 13:48 ET - News Release

Mr. Peter Londa reports

GE APPLIANCES & TANTALUS SYSTEMS PARTNER TO PROVIDE ENERGY DEMAND MANAGEMENT

GE Appliances, a Haier company, and Tantalus Systems Holding Inc. today formed a partnership that will revolutionize the way home appliances, HVAC (heating, ventilation and air conditioning) systems and water heaters use real-time data to manage energy delivery and consumption. The industry-first GE Appliances EcoBalance System in partnership with Savant will integrate with Tantalus's TRUSense Gateway to cycle individual home appliances, including air and water heating products, to support grid modernization initiatives.

GE Appliances EcoBalance System in partnership with Savant provides market-leading capabilities allowing consumers to control their energy management of home appliances, HVAC systems and water heaters. Tantalus's TRUSense Gateway is installed between existing meters and meter sockets, eliminating the costly and labour-intensive process of replacing all the meters in a utility service area.

"We helped electrify America, and with our portfolio of innovative smart products and the technology of Tantalus, we can use our shared capabilities to help save consumers money and help save the country's electrical grid," said Kevin Nolan, president and chief executive officer of GE Appliances, a Haier company. "GE Appliances products are currently in half of all U.S. homes, and we have an install base of 26 million connectable appliances -- so we have the capacity to work with demand management systems to make a significant impact on saving electricity."

GE Appliances is America's No. 1 appliance company, the first choice for builders and the first to offer suites of connected appliances. Tantalus helps more than 285 utilities and energy providers modernize their distribution grids by harnessing the power of data across devices and systems deployed from the substation to home appliances, water heaters, HVAC systems or electric vehicle chargers. By adding Tantalus to the GE Appliances EcoBalance System, products will be able to "communicate" with energy companies. For example, refrigerator defrost or ice cycles can run during off-peak hours, water heaters can be charged with energy for use later in the day, and HVAC systems can be adjusted a few degrees to save energy and reduce peak demand.

These capabilities can be leveraged to help utilities reduce their carbon footprint and balance energy load profiles -- without sacrificing performance or style. In addition, the technology is useful when utilities are planning for natural disasters. Certain items, like water heaters, can be charged with electricity in advance of an incoming storm and used as a thermal storage device if power is disrupted.

"In partnership with GE Appliances and Savant, Tantalus's new TRUSense Gateway will provide utilities with the visibility, command and control they need over the distribution grid and allow them to better serve customers as a wider range of smart appliances and electric vehicles are adopted. By harnessing the power of data from devices located behind the meter, we can further accelerate grid modernization efforts," said Peter Londa, president and chief executive officer of Tantalus Systems. "We are honoured to join GE Appliances EcoBalance System and work alongside their team to improve a utilities' resiliency, reliability and sustainability."

The combined capabilities of GE Appliances' EcoBalance System in partnership with Savant and Tantalus' TRUSense Gateway will be displayed at the 2024 International Builders Show, Distributech International and TechAdvantage. It will also be incorporated into upcoming field trials with utilities.

About Tantalus Systems Holding Inc.

Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid. The company offers a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Its solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements.

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