Tantalus said that its wireless communications technology (TUNet – the Tantalus Utility Network) provides utilities with greater control over their power grid by automating processes like outage detection, load forecasting, billing and reporting, demand response, and maintenance. The net result is operational efficiency for the utility and greater service reliability for the consumer.
In addition, TUNet can effectively service a wide range of topographies throughout both urban and rural service areas in a scalable way.
Currently, Tantalus counts more than 30 utilities among its customer base, several of which were recently awarded stimulus grants from the US Department of Energy. With this funding, Tantalus expects be able to capitalize on its current market traction and expand its customer base with larger, faster deployments.
Jeff Brody, founding partner of Redpoint Ventures, said: ”In 2009, the adoption and deployment of Smart Grid technologies accelerated as the economic and environmental benefits became clear.
“We looked closely at numerous vendors in the space and Tantalus stood out due to its unique market position, technology differentiation, and scalability. Recent wins at large municipalities have positioned the company for continued rapid growth.”
