Tantalus Releases its Third Annual Utility of the Future Survey

Rhea-AI Summary

Tantalus Systems has released its third annual Utility of the Future Survey, revealing key insights from 103 North American utilities. The survey, conducted between January and April 2025, shows that 74% of utilities prioritize grid modernization, yet only 1 in 11 feel prepared for future challenges.

Key findings highlight that grid data management and cybersecurity remain top challenges, with only 3% of utilities feeling completely prepared for data management and 5% for cybersecurity. The survey also identifies extreme weather events, staffing challenges, and grid reliability as major concerns.

Economic volatility emerged as a significant issue, with 37% of utilities citing it as a top or extreme concern, though only 3% feel fully prepared to address it. The survey noted decreased urgency in innovation needs and regulatory pressures compared to 2024. Tantalus aims to support utilities in bridging the grid modernization readiness gap through data-driven solutions.

Positive

• 74% of utilities identify grid modernization as a priority, indicating strong market demand for Tantalus' solutions
• Company is well-positioned in key growth areas: grid data management and cybersecurity solutions
• Rising extreme weather events create increased demand for grid reliability solutions

Negative

• Only 9% of utilities feel prepared for future challenges, suggesting longer sales cycles
• Only 3% of utilities feel prepared for economic volatility, potentially affecting purchasing decisions
• Low preparedness levels (3% for grid data management, 5% for cybersecurity) may slow adoption rates

Utilities prioritize grid modernization while tackling challenges associated with grid data management and cybersecurity

Burnaby, British Columbia--(Newsfile Corp. - April 29, 2025) - Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) ("Tantalus" or the "Company"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced the findings of its third annual Utility of the Future Survey at the Tantalus Users Conference today in Indianapolis, Indiana. Fielded between January 2025 and April 2025, the survey includes responses from 103 utilities across North America and reflects their concerns, priorities, and levels of preparedness in confronting the challenges of grid modernization.

Similar to last year, nearly three out of four utilities (74%) identified grid modernization as a priority. However, even as more utilities embrace grid modernization, only 1 in 11 feel prepared to address future challenges, leading to an increasing demand for support from trusted vendors and partners.

The survey also revealed that grid data management and cybersecurity remain the top two challenges confronting utilities. Despite those concerns, only 3% of utilities feel completely prepared to tackle grid data management while only 5% of utilities feel completely prepared to tackle cybersecurity.

"Utilities are embracing the need for grid modernization and understand the level of transformation required-particularly around grid data management, cybersecurity and the importance of prioritizing capital expenditures to upgrade and protect critical infrastructure, such as distribution transformers," said Peter Londa, Tantalus President & CEO. "As we move forward, Tantalus remains committed to helping utilities bridge the grid modernization readiness gap. Our purpose-built solutions help utilities harness the power of data, leverage as much of their existing infrastructure as possible, and achieve the most cost-effective path to developing even more reliable and resilient distribution grids."

Additional findings include:

• Extreme weather events continue to rise as a top concern for the third year in a row. It is now among other top concerns, including hiring and retaining staff, demonstrating a need to rely on trusted partners to supplement resources in order to improve their preparedness.
• Meeting customer expectations related to grid reliability and resilience also witnessed a material increase in concern compared to prior years.
• While 37% of utilities cited economic volatility as either a top concern or an extreme concern, only 3% said they feel completely prepared to deal with that economic volatility. (Note: The vast majority of responses were gathered prior to the recent enactment of global tariffs in the U.S. which are leading to higher prices.)
• Meanwhile, the need for continued innovation and regulatory pressures each declined slightly in level of urgency from 2024 to 2025.

To learn more about how Tantalus helps utilities modernize the grid by harnessing the power of data, visit our website at www.tantalus.com or contact us at tantalusinfo@tantalus.com. To see this year's survey results, click here.

About Tantalus Systems Holding Inc. (TSX: GRID) (OTCQX: TGMPF)
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. We offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Our 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. Learn more at http://www.tantalus.com/.

Forward Looking Statement:
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, utilities' need for grid modernization and the level of transformation required, the ability of Tantalus's solutions to harness the power of data, leverage existing infrastructure and achieve the most cost-effective path to developing even more reliable and resilient distribution grids, 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 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 news release is expressly qualified in its entirety by this cautionary statement.

Contact Tantalus:

Neil Torres
PR Manager
415-948-6345 | neil@robroyconsulting.com

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/250014

FAQ

What are the key findings of Tantalus (TGMPF) 2025 Utility Survey?

The 2025 survey of 103 North American utilities revealed that 74% prioritize grid modernization, but only 1 in 11 feel prepared. Grid data management and cybersecurity remain top challenges, with only 3% and 5% of utilities feeling completely prepared in these areas respectively.

How are utilities responding to extreme weather challenges in 2025?

According to Tantalus's survey, extreme weather events have risen to become a top concern for the third consecutive year, alongside staffing challenges. Utilities are seeking trusted partners to supplement resources and improve preparedness for weather-related grid disruptions.

What percentage of utilities are prepared for economic volatility in 2025?

Only 3% of utilities reported feeling completely prepared to handle economic volatility, despite 37% citing it as a top or extreme concern. This data comes from Tantalus's (TGMPF) 2025 utility survey conducted between January and April.

How has grid modernization readiness changed for utilities in 2025?

While 74% of utilities identify grid modernization as a priority, there's a significant readiness gap with only 1 in 11 utilities feeling prepared to address future challenges, leading to increased demand for vendor support and partnerships.

What are utilities' top cybersecurity concerns in 2025?

Cybersecurity remains one of the top two challenges for utilities, with only 5% feeling completely prepared to address cybersecurity threats, according to Tantalus's (TGMPF) 2025 survey of North American utilities.