Vancouver-based Tantalus Systems Corp., a manufacturer of two-way Smart Grid data communications, today announ...
January 20, 2010
Vancouver-based Tantalus Systems Corp., a manufacturer of two-way Smart Grid data communications, today announced that it has raised $14 million in equity to fund its ongoing penetration of energy efficiency offerings into co-op and municipal utilities.
The financing was led by Redpoint Ventures and included several current investors in the company.
“In 2009, the adoption and deployment of Smart Grid technologies accelerated as the economic and environmental benefits became clear,” said Jeff Brody, founding partner of Redpoint Ventures.
Tantalus’ wireless communications technology (TUNet — the Tantalus Utility Network) — provides utilities with greater control over their power grid by automating processes such as 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, the company said.