Tantalus Systems Holding Inc. announced that it has secured a debt facility with Export Development Canada ("EDC"), a Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. This loan from EDC will provide Tantalus with up to $7.0 million of capital to support the anticipated launch of the Company's game-changing TRUSense Gateway solution as well as provide additional working capital. The TRUSense Gateway provides utilities with next-generation advanced capabilities that allow them to deal with the mounting pressures of extreme weather events, electric vehicle (EV) and solar power adoption, and the need to upgrade outdated infrastructure in the most cost-effective way possible.

Further, because this solution will provide utilities with the ability to access and analyze data from devices located behind the meter, it provides utilities with a level of control and agility to fundamentally improve the management of the distribution grid. In addition to supporting growth initiatives, Tantalus will use a portion of the EDC loan to refinance the outstanding principal of an existing term loan obtained in connection with the acquisition of Congruitive that was amortizing through the end of 2024. Under the terms of the agreement with EDC, the loan has a six-year term and is interest-only for the first 18 months of the term.

Additionally, Tantalus' existing line of credit facility with Comerica Bank will increase from $8.1 million to $8.5 million, providing more flexibility to manage working capital moving forward. From a technology perspective, the TRUSense Gateway delivers advanced power quality measurements to pinpoint vulnerabilities across the distribution grid. The solution also supports broadband initiatives and serves as the point of connection for utilities to directly monitor, manage and control EV chargers, inverters for solar and batteries, and thermal storage devices, such as water heaters, which are located behind the meter.

Tantalus will combine the software from its acquisition of Congruitive with the TRUSense Gateway to allow utilities to analyze data from an increasing number of devices and benefit from truly interoperable, distributed intelligence at the edge of the grid.