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Tantalus Acquires Demand Management Company Energate to Expand Smart Grid Applications PortfolioTantalus Systems, a leading provider of smart grid solutions for electric and multi-commodity utilities, announced today that it completed the acquisition of Energate, Inc., a leader in interactive demand management solutions. The acquisition expands Tantalus' smart grid application portfolio to include a comprehensive solution which empowers utilities and energy service providers to control load at the edge of the distribution network. "Incorporating Energate's advanced demand management solutions into Tantalus' product portfolio represents an exciting step towards delivering our vision to assist utilities improve their profitability, reliability and operating efficiency," said Peter Londa, President & CEO for Tantalus. "This transaction accelerates our growth trajectory by expanding Tantalus' total addressable market opportunity with a proven and differentiated solution that is being deployed at some of the largest IOUs, cooperative and municipal utilities across North America. Together, we provide a more compelling offer that is truly capable of delivering on the promise of smart grid." Tantalus' edge computing capabilities deliver valuable, granular, interval data from an electric utility's network. By integrating detailed insights into energy consumption from large appliances in homes and buildings, Tantalus can assist utilities with miigating imbalances between supply and demand, shift peak load and utilize dynamic rate structures through advanced programs. Utilities can also deliver increased value to their customers by offering load control devices and a comprehensive customer portal to educate and empower home owners, business owners and landlords to become smarter consumers of electricity. The interrelated data available through the combined solution will provide utilities with a precise understanding of the energy demands and use patterns of specific devices within any home or building. "By combining forces and leveraging Tantalus' resources and financial strength, we can accelerate the growth of our organization. Together, we provide a more compelling offer that is truly capable of delivering on the promise of smart grid," said Steve Dodds, CEO of Energate, Inc. "Over the past several years, we made significant progress in deploying our latest load control switch with four relays to complement our Zigbee/WiFi (News - Alert) enabled smart thermostat and overall solution." With over 130 utilities in North America and the Caribbean basin, Tantalus continues to expand its market share as well as its smart grid application portfolio. Energate's 50 utility and energy service providers bring new market segments into the Tantalus fold. All existing Tantalus and Energate customers will continue to receive ongoing support, continued access to solutions and products including upcoming enhancements and current project commitments. The companies will remain fully committed to supporting its combined customer base of municipal, cooperative, investor owned utilities and energy service providers by delivering long-term value through cutting edge technology and market-leading solutions. About Tantalus Tantalus provides TUNet® - the Tantalus Utility Network - which is an award winning end-to-end communications platform utilizing IP-based networks including Fiber, WiMAX (News - Alert) and cellular as well as 220 & 900 MHz wireless RF. TUNet is purpose built for the Smart Grid and unites utility applications through distributed, Linux-based edge computing capability at every endpoint. The result is enhanced value across all utility departments through integrated solutions such as AMI, outage management, power quality monitoring, load management, smart thermostats, smart plugs and distribution grid optimization that are both cost-effective and practical to deploy throughout urban and rural service areas. For more information, please visit www.tantalus.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170823005241/en/ |
