Discovery Capital backed Tantalus Systems closes reorganization

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By Ted Liu

Tantalus Systems Corp. has recently completed a statutory reorganization where Tantalus Systems Corp. became a wholly-owned subsidiary of Tantalus Systems Shareholders Inc. Former investors now have an indirect interest in Tantalus System Corp.

The reorganization closed in July 2017.

The Tantalus Systems Shareholders new board of directors is comprised of Charles Cook, CFO of Discovery Capital, John McEwen, CEO of Discovery Capital, Dr. Francis J. Harvey, and Peter Londa, CEO of both Tantalus Systems Shareholders Inc. and Tantalus Systems Corp.

Tantalus Systems has previously raised over $30 million from Altira Group LLC, ARC Energy Venture Fund 4, Discovery Capital managed British Columbia Discovery Fund (VCC) Inc., Pender Growth Fund, Sanders Morris Harris Group, CT Innovations, Redpoint Ventures, and Vareco Holdings.

Burnaby, BC based Tantalus Systems is a leading smart grid solution provider for municipal and cooperative utilities. Tantalus provides a two-way, multi-purpose platform that enables access to data to power advanced Smart Grid applications for monitoring and control of electric, water and gas municipal and cooperative utilities.

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