Tantalus Systems Announces the Addition of Utility Industry Veteran, Greg Williams, to Its Board of Directors

Burnaby, British Columbia--(Newsfile Corp. - June 27, 2023) - Tantalus Systems (TSX: GRID) ("Tantalus" or the "Company"), a smart grid technology company focused on helping build sustainable utilities for the future, today announced the voting results of the Company's annual general meeting of shareholders held on June 27, 2023 (the "Meeting"), including the addition of Greg Williams to its Board of Directors.

Greg Williams joins Tantalus' Board of Directors after a distinguished career of over 40 years in the electric utility industry. Greg recently retired as General Manager of Appalachian Electric Cooperative (AEC), which supports and delivers electricity to approximately 47,000 homes and businesses in East Tennessee. In addition to serving as General Manager of AEC, he also served on the Board of Directors for the National Rural Utilities Cooperative Finance Corporation, was Chair of the Tennessee Valley Public Power Association (TVPPA) and served on the Board of Trustees for the Tennessee Electric Cooperative Association. Greg was also a member of various committees in connection with his prior board service, including the Rates and Pricing Committee, the Energy Services Committee as Chair, and the Research and Development Committee for TVPPA.

"There are over 830 electric cooperative utilities in the United States representing over 50% of the nation's landmass and serving over 42 million people – including over 90% of persistent poverty counties across the country," said Greg Williams. "After working alongside the team at Tantalus as one of its customers for over 15 years, it is a privilege to extend my time with the Company to ensure we continue to meet the needs of this vital segment of the electric utility industry in the United States."

"Adding Greg's expertise in the electric utility industry and expanding our corporate governance bolsters our Board's mandate to oversee Tantalus on behalf of our shareholders," said Laura Formusa, Chair of Tantalus. "Greg's addition to our Board is timely, particularly given his experience in spearheading an effort for his former utility to deliver broadband services across their community, which is an important element to our new TRUSense™ Gateway offering. We are humbled to have Greg join our Board and look forward to his contributions as a Director of the Company."

The electric cooperative market segment finds itself at the crossroads of delivering reliable and affordable power to communities across the United States while also addressing the broadband divide that surfaced during the COVID-19 pandemic. To ensure broadband access in the United States is ubiquitous, the United States government allocated approximately $45 billion in stimulus funding, a significant portion of which will be allocated to communities where electric cooperative utilities are proactively stepping into the void where broadband services are not readily available from major communications and cable providers. Similar to the establishment of electric cooperatives in the 1930's to ensure access to electricity for underserved areas across the United States, the federal government is looking to electric cooperatives again to ensure equal access to broadband services throughout the country.

"During Greg's tenure as General Manager of AEC, Tantalus had a front-row seat to witness Greg's leadership and ability as we worked in partnership to help transition the utility from manual processes to automated systems leveraging the power of data," said Peter Londa, President & CEO of Tantalus. "As we prepare for the launch of our new TRUSense Gateway – and its ability to redefine the edge of the grid for utilities with broadband capabilities – we are truly excited to have Greg's expertise on our Board. Based on his first-hand knowledge of the electric cooperative market segment, we gain valuable insight to ensure our new offering enables utilities to simultaneously evolve their existing systems and support the delivery of broadband in their service areas."

In addition to the election of Greg Williams, Tantalus is pleased to share the results of shareholder voting at the Meeting.

Election of Directors
The following six nominees of management were elected as directors at the Meeting. The voting results for the election of each director nominee are as follows:

Appointment of Auditors
At the Meeting, KPMG LLP was appointed as auditors of the Company for the ensuing year, at a remuneration to be fixed by the directors.

About Tantalus Systems Holding Inc. (TSX: GRID)
Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements. Learn more at www.tantalus.com.

Contact Tantalus:
Deborah Honig
Investor Relations
647-203-8793 | deborah@adcap.ca

Website: www.tantalus.com
LinkedIn: LinkedIn/company/tantalus
Twitter: @TantalusCorp

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/171480