Energy & Power
Transmission & Distribution
Tantalus Systems is an EDC Cleantech Export Star
By Anthony Capkun
December 30, 2020 – Tantalus Systems Corp. has been recognized as a Cleantech Export Star—along with four other organizations—by Export Development Canada (EDC). Congratulations!
“When Tantalus Systems was founded in 1989, the way electric power was distributed hadn’t changed for almost a century,” said Peter Londa, president & CEO. “Our goal was to develop technology that would enhance the safety, security, reliability and efficiency of public power and electric co-operative utilities.”
Londa says the company’s technology solutions “improve the environment by enabling utilities to reduce their carbon footprint by being more efficient and preparing their distribution grids for the adoption of distributed energy resources in the form of solar panels, electric vehicles and distributed storage”.
“Through the Export Guarantee Program and backstopping our receivables from utilities outside of Canada with Accounts Receivable Insurance, Export Development Canada has enabled us to establish a fairly comprehensive senior debt facility with a large bank that would otherwise have likely perceived Tantalus as a smaller entity and riskier borrower,” explained Londa. “EDC has helped us access critical working capital to support our supply chain and build inventory.”
EDC says Burnaby-B.C.-based Tantalus provides smart grid communications technology that enables electric, gas & water utilities to optimize the use resources by automating monitoring and control processes, improving operational efficiency, and delivering the information utilities and consumers need to manage energy intelligently and cost-effectively.