TANTALUS SYS HLDGS INC - TNTLF STOCK NEWS

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Tantalus Systems Holding Inc. (TSX: GRID) is a technology company dedicated to helping utilities modernize their distribution grids by leveraging data across all devices and systems deployed throughout the entire distribution grid. With a focus on grid modernization platforms, intelligent connected devices, communications networks, data management, enterprise applications, and analytics, Tantalus offers solutions that provide utilities with flexibility to maximize value from existing infrastructure investments and anticipate future requirements.

The Company recently announced the launch of TRUSense Gateway, a groundbreaking solution that received Underwriters Laboratories certification and is poised to transform grid modernization efforts. Through collaborations with industry partners, academic institutions, and research centers, Tantalus aims to enhance reliability, resiliency, and affordability for the communities utilities serve.

Tantalus is committed to accelerating growth, evidenced by the record sales orders of US$21.6 million converted in Q1 2024. The Company added 5 new utilities to its user community, bringing the total to 293. Additionally, Tantalus achieved a Gross Profit Margin of 53% in Q1 2024, reflecting a strategic focus on sustainable financial performance.

By securing C$10 million in gross proceeds through a successful bought deal financing, Tantalus is well-positioned to drive innovation, expand research and development initiatives, and further solidify its market presence. The Company's recent achievements and financial results underscore its dedication to advancing grid modernization and delivering impactful solutions to the utility sector.