08 Feb 2022

Tantalus Systems Announces 2021 Business Highlights with Strong Momentum Heading into 2022

BURNABY, BC – February 8, 2022Tantalus Systems (TSX: GRID) (“Tantalus” or the “Company”), a company focused on helping build sustainable utilities for the future, is pleased to announce 2021 operating and preliminary financial results for 2021 along with an improving outlook going into 2022 as utilities accelerate smart grid investments.

“We are extremely pleased to provide this update to our shareholders as Tantalus’ business has never been stronger as evidenced by the year-over-year growth in our orders by 27.5%, expansion of our user community by 25 utilities in 2021, accessing over CAD$20 million through two financings as a public company and entering 2022 with our highest level of revenue backlog to commence a year,” said Peter Londa, President & CEO of Tantalus. “Looking forward to this year, we anticipate strong revenue growth with approximately US$27 million in revenue backlog for 2022, coupled with strong secular drivers that are requiring utilities to modernize their distribution grids. Our strong balance sheet enabled us to execute the recently announced acquisition of Congruitive which places Tantalus at the forefront of helping utilities prepare for the significant impact that electric vehicles and distributed energy resources will have on their resiliency and reliability. We believe Tantalus is well-positioned to provide our shareholders with a long trajectory of growth for our business.” READ MORE HERE

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