TANTALUS SYS HLDGS INC - TNTLF STOCK NEWS

Tantalus Systems announced that the TRUSense Cellular Gateway (TCG) has received FCC certification, marking a significant milestone towards its commercialization. The TCG is part of the TRUSense Gateway suite and the Tantalus Grid Modernization Platform (TGMP), aimed at modernizing utility grids. The FCC certification confirms the TCG's compliance with national standards for electromagnetic compatibility, enabling Tantalus to commence production. CEO Peter Londa emphasized the benefits of integrating this technology, including enhanced data analytics, improved outage management, and sustainable energy practices. The TCG facilitates the integration of advanced metering infrastructure (AMI) and reliable behind-the-meter control without replacing existing meters. This certification also paves the way for updating the UL-2745 Certification for the TRUSense Fiber Gateway to include the LTE daughterboard. Tantalus is awaiting PTCRB approval for full commercialization.

Tantalus Systems (TSX: GRID) reported financial results for Q2 and H1 2024. Key highlights:

- Record $32.9 million in sales orders for H1 2024, up 46% YoY
- Revenue of $10.7 million, down 4% YoY
- Annual Recurring Revenue (ARR) of $12.0 million, up 14% YoY
- Strong Gross Profit Margin of 55%
- Adjusted EBITDA of -$0.2 million
- Cash position increased to $11.4 million
- Added 14 new utilities, bringing total to 302
- Secured orders from 15 utilities for TRUSense Gateway trials and pilots

Despite a slight revenue decline, the company sees growth opportunities with its TRUSense Gateway product line and Grid Modernization Platform.

Tantalus Systems (TSX: GRID) has launched TRUFlex™ Protect, an advanced software application designed to help utilities manage rolling blackouts caused by extreme weather or emergencies. This solution allows utilities to keep their distribution grid energized while selectively shedding electric load through edge intelligence. Key benefits include:

• Ensuring uninterrupted power for vulnerable customers
• Providing equal access to power for all customers
• Protecting revenue and minimizing customer inconvenience
• Preventing overloads and expensive rebound peaks
• Maintaining functional outage management systems

TRUFlex Protect is available through Tantalus' TRUFlex Load+DER Management System software and the TRUConnect™ Load Champ edge intelligence application. The automated system eliminates the need for manual feeder rotation, offering a more efficient and equitable approach to load shedding during energy supply shortfalls.

Tantalus Systems (TSX: GRID), a technology company focused on modernizing utility distribution grids through data-driven solutions, has announced the voting results from its annual general meeting held on July 23, 2024. Six director nominees were elected with overwhelming support, each receiving over 99.9% of votes in favor. The nominees include Laura Formusa, Dr. Francis J. Harvey, Tom Liston, Peter Londa, John McEwen, and Greg Williams.

Additionally, Ernst & Young LLP was appointed as the company's auditor for the upcoming year, with the directors authorized to determine their remuneration. The meeting results demonstrate strong shareholder confidence in Tantalus Systems' leadership and governance structure.

Tantalus Systems (TSX: GRID) has announced that its TRUSense Ethernet Gateway (TEG) has received Underwriters Laboratories (UL) certification, confirming its compliance with electric safety requirements for deployment across the electric distribution grid. The TEG, part of the Tantalus Grid Modernization Platform™ (TGMP™), enhances utility grid visibility and control from substations to behind-the-meter devices.

Key features of the TEG include:

• Compatibility with various broadband types
• AMI 2.0 functionality without replacing existing meters
• Integration of distributed energy resources and smart appliances
• High-resolution measurement of power quality and events

This certification is expected to accelerate the commercialization of Tantalus' technology and increase field trials.

Tantalus Systems (TSX: GRID), a grid modernization technology company, has announced it will release its Q2 2024 financial results on August 6, 2024, after market close. The company will host a conference call and webcast to discuss these results on August 7, 2024, at 11:00 am Eastern Time.

Interested parties can join the conference call using the following dial-in numbers:

• Toll-Free: 1-844-854-4410
• International: 1-412-317-5791

Tantalus Systems announced that it has reached 300 utility customers with the addition of Henderson Municipal Power & Light (HMP&L). HMP&L will deploy Tantalus' Grid Modernization Platform and TRUSense Fiber Gateways to support its fiber-to-the-home initiative, enhance advanced metering capabilities, and improve grid resiliency.

The platform will enable HMP&L to access granular power quality data and manage distributed energy resources and smart appliances. The TRUSense Fiber Gateway will help track and manage grid-scale solar and storage assets, boosting the utility's resiliency. HMP&L aims to deliver reliable broadband access and leverage data analytics for grid automation and incorporating renewable energy sources.

The partnership marks a significant milestone for Tantalus, expanding their customer base and supporting HMP&L's broader grid modernization initiatives.

Tantalus Systems announced the closure of a $10 million bought deal financing. The company issued 6,250,000 common shares at C$1.60 per share. The offering consisted of two tranches: a LIFE Tranche for C$7.9 million, and a Concurrent Private Placement Tranche for C$2.1 million. The proceeds will be used for R&D, sales development, and working capital. Underwriters were paid a 6% cash fee and received compensation warrants.

Insiders invested in 1,474,300 shares, triggering a 'related party transaction' under MI 61-101. The financing aims to support Tantalus' mission to modernize utility distribution grids with their new TRUSense Gateway solution.

Tantalus Systems Holding Inc. reported financial results for Q1 of 2024, achieving record sales orders of US$21.6 million, a 10% revenue decrease due to order conversion timing, and an ARR of US$11.6 million. Gross Profit Margin increased to 53%, while Adjusted EBITDA was (US$0.5 million). The company ended Q1 with total assets of US$35.5 million.