Press Release - Date: December 2, 2020 |
Agreements establish a path to Tantalus’ TSX-V listing
NORWALK, CT – November 19, 2020 – Smart grid technology leader Tantalus Systems today announced it has entered into a definitive agreement to merge with RiseTech Capital Corp., a TSX Venture Exchange-listed capital pool company, and also that it closed on a concurrent financing to bolster the company’s balance sheet in order to support and accelerate several strategic growth initiatives as well as for general working capital purp
oses. Following the closing of the merger, Tantalus’ board and management team will remain in place and lead the combined company, which will continue to focus on delivering innovative smart grid solutions to electric, water and gas utilities. Upon receiving the necessary approvals for listing from the TSX Venture Exchange, Tantalus will gain increased access to the capital markets as a publicly traded company.
“When RiseTech Capital entered into a letter of intent with Tantalus on September 8, 2020, we sought to partner with the experienced leadership team at Tantalus to accelerate the growth of this purpose-driven, innovative technology company,” said Manny Padda, CEO of RiseTech Capital. “In entering into definitive agreements today and securing additional capital, we believe that Tantalus is well-positioned to leverage its industry proven solutions and become a market leader in helping utilities prepare for the transformation of distribution grids across North America and beyond. Our shareholders are extremely excited to have the opportunity to support them in their mission.”
In parallel, Tantalus also announced the closing of a financing in the amount of approximately CAD$8.8 million through a private placement of subscription receipts that will ultimately be exchanged for shares of the publicly-traded company. The financing, led by Canaccord Genuity and Cormark Securities, as Joint Book Runners, and PI Financial, included contributions from several institutional technology funds and retail investors. In announcing both events, Tantalus and RiseTech will submit a Filing Statement to the TSX-Venture Exchange to seek approval for the public listing of the combined entity.
“On behalf of our Board of Directors, shareholders, employees, utility users and partners, our management team is extremely excited to take this pivotal next step in the evolution of Tantalus. This milestone marks the continued success resulting from our unwavering purpose to deliver mission-critical solutions to public power and electric cooperative utilities,” said Peter Londa, President & CEO of Tantalus Systems. “As we seek to help communities prepare for the future where technological, environmental and behavioral developments impact the needs and expectations of consumers, we believe this transaction will position our company to remain a long-term partner to the utilities we serve. Tantalus plans to be at the epicenter of empowering our utilities to transform their distribution grids, engage with their customers and members, utilize granular data to enhance their operations, quickly respond to unexpected events and proactively support the communities they serve.”
About Tantalus
Over the past three decades, Tantalus has consistently and creatively delivered mission-critical technology solutions that enhance the safety, security, reliability and efficiency of public power and electric cooperative utilities across North America and the Caribbean Basin. By leveraging technology, Tantalus empowers utilities to transform their distribution grids from systems designed to support one-way power flow into a connected network of devices capable of supporting multi-directional power flow from solar panels, distributed storage and electric vehicles. The solutions and tools delivered by Tantalus enable utilities to also engage proactively with their customers and members, to be more responsive and reliable, pinpoint where to make capital investments to improve the resiliency of their grids, and generate cost savings by streamlining system operations. Tantalus’ comprehensive suite of smart grid solutions includes advanced metering infrastructure, demand-management technologies, data analytics, distribution automation and street lighting control systems – a broad portfolio built purposefully to support smart community initiatives essential to both the near-term and long-term success of the utilities Tantalus supports and the communities they serve. More.
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the completion of the merger with RiseTech Capital Corp. and gaining increased access to capital markets and other statements that contain words such as “believe,” “expect,” “project,” “should,” “seek,” “anticipate,” “will,” “intend,” “positioned,” “risk,” “plan,” “may,” “estimate” or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and Tantalus disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this new release is expressly qualified in its entirety by this cautionary statement.… more…Evluma’s Build-Your-Own Acorn is an Affordable Answer to Decorative Streetlight LED Upgrades Press Release - Date: September 25, 2020 |
Street and area light manufacturer Evluma announces the release of Build-Your-Own Acorn; a full-fixture, decorative streetlight replacement solution that includes the customer’s choice of acorn globe, finial and capital fitter. This solution is designed for utilities, municipalities, facilities and property managers looking to upgrade their existing decorative lighting from HID to LED and features the OmniMax™ LED lamp as its light source.
“Build-Your-Own-Acorn is a tailored solution that
puts control in the hands of the customer,” said Evluma Product Manager Jason Dobbs. “With the value-driven OmniMax at the center of quality, cost-effective options, this is an affordable approach to complete head replacements. Build-Your-Own-Acorn offers the freedom to replace and repair fixtures without being locked into a proprietary OEM solution that may be hard to change later and typically costs more. It’s everything but the pole.”
Build-Your-Own Acorn includes multiple styles of acrylic and polycarbonate globes, in addition to a cast aluminum capital fitter. The capital fits 3 inch and 4 inch poles and is offered in black or green. The 70W OmniMax LED lamp is offered in six different color temperatures ranging from 2000K-5000K in either the Premium or Standard. OmniMax Premium includes Evluma’s patented, maintenance-saving Photocontrol Failsafe™ and compatibility with Evluma’s Bluetooth lighting app ConnectLED™. OmniMax Standard ships without connectivity features or Photocontrol Failsafe built-in.
“Photocontrol Failsafe means never having to replace a failed photocontrol ever again,” said Janine Soper, Evluma’s Regional Sales Manager. “With ConnectLED, the OmniMax Premium can be quickly dimmed or programmed with a dimming schedule, offering additional aesthetic and energy saving opportunities,” said Janine.
Both OmniMax models are supported by robust 20kV/10kA surge protection and the OmniMax’s four layers of thermal management for extended operation in enclosed environments. The capital has a 5 year warranty on the finish. Acrylic globes are warrantied for 5 years against yellowing. The OmniMax and all electronics, including the capital’s optional photocontrol are warrantied for 10 years.
About Evluma
Formed in 2008, Evluma is committed to developing affordable, long-lasting and environmentally low-impact LED lighting solutions that fundamentally change the landscape of the outdoor utility lighting market. Evluma’s high standard of customer service and background in innovative lighting technologies, automation and software design creatively ideate and inform its utility-grade products. Evluma is located in Renton, WA, USA.
… more…Test Universe 4.20 Press Release - Date: June 23, 2020 |
Improved Power modules and integration of ADMO light
The newest version of Test Universe 4.20, OMICRON’s solution for advanced settings-based protection testing, offers improved ease of use of the Power modules and the ribbon menu. Further customer requirements have been implemented and, with the integration of ADMO light, users can use the full functionality of ADMO in managing up to 50 assets.
Working with ramps in the Advanced Power module
The Advanced Power module’s inpu
t options for entering criteria for automatic ramp assessment have been extended and simplified. Additionally, the power view now displays the trip during ramping. The ribbon in all Distance and Power modules dynamically displays additional commands, providing a closer link between the different areas of the modules and improving usability.
Permanent ADMO light license
The “light” version provides the full ADMO standalone functionality, but for a limited number of assets. The intelligent data management software allows for central planning and management of all engineering, testing and maintenance activities. In addition to the 50 assets, the permanent license also covers the management of an unlimited number of test sets.
Available from July 2020.
Company profile
OMICRON is an international company providing innovative testing and diagnostic solutions for electrical power supply systems. The use of OMICRON products offers the greatest reliability in evaluating the status of primary and secondary technical equipment. Comprehensive services in the areas of consulting, commissioning, testing, diagnostics, and training are an integral part of OMICRON's service offering.
Customers in over 160 countries benefit from the company's ability to supply cutting-edge products of outstanding quality. Service centers on every continent also provide a broad range of application knowledge/expertise and first-class customer support.
All of this, coupled with a powerful network of sales partners, has helped OMICRON establish itself as a market leader in the field of electrical power engineering.
Press Contact
OMICRON electronics
Marketing
Nathan Herrera
Nathan.herrera@omicronenergy.com
www.omicronenergy.com… more…