Can this Canadian tech inventory repair the U.S. energy grid?

Haywood Capital Markets analyst Gianluca Tucci reiterated his “Purchase” score on Tantalus Programs (Tantalus Programs Holding Inventory Quote, Chart, Information, Analysts, Financials TSX:GRID) and raised his value goal to C$8.25 from C$6.50 in a Feb. 2 report, citing strengthening fundamentals and what he described as rising strategic relevance in grid modernization.

Tucci mentioned Tantalus introduced three developments that additional reinforce its funding thesis, together with an expanded supply-chain partnership with Aclara, a key working milestone, and new intellectual-property safety.

Underneath the expanded collaboration, Aclara — a division of Hubbell, a roughly US$26-billion market-capitalization industrial conglomerate — will factory-integrate Tantalus’ TRUConnect modules immediately into its residential and industrial meters. Tucci mentioned the transfer removes friction from deployments by eliminating third-party retrofits, lowering lead instances and set up prices, bettering margin potential, and smoothing the trail to income recognition. He added that manufacturing unit integration additionally positions Tantalus as a local possibility inside Aclara’s giant utility buyer base.

“With the continued proliferation of related gadgets and the adoption of EVs additional straining an already outdated utility and energy distribution grid, we consider GRID’s positioning ought to present consolation to traders,” Tucci mentioned. “The corporate’s next-generation TRUSense Gateway ought to add significant backlog to a confirmed enterprise mannequin.”

Tantalus additionally surpassed 4 million endpoints delivered by way of its Grid Modernization Platform, a milestone Tucci described as an necessary validation level for utility CIOs. He mentioned reaching that scale strikes the platform from rising expertise to confirmed infrastructure, a crucial issue when bidding on bigger Tier-2 and public-power contracts.

As well as, the corporate secured a brand new patent overlaying its Modular Vitality Intelligence Unit, which Tucci mentioned strengthens its aggressive moat round edge computing and distributed energy-resource (DER) administration. As energy grids develop into more and more bi-directional with electrical autos and distributed era, he mentioned intelligence should transfer nearer to the sting of the community, somewhat than relying solely on centralized cloud processing.

“With the continued proliferation of related gadgets and the adoption of EVs additional straining an already outdated utility and energy distribution grid, we consider GRID’s positioning ought to present consolation to traders,” Tucci mentioned. “The corporate’s next-generation TRUSense Gateway ought to add significant backlog to a confirmed enterprise mannequin.”

Tucci reiterated that Tantalus stays one among Haywood’s prime picks for 2026, arguing that utilities’ have to modernize grid infrastructure is turning into more and more disconnected from cyclical demand tendencies elsewhere within the expertise sector. He mentioned whereas semiconductor demand might fluctuate, the requirement to optimize energy distribution is structural and unavoidable, notably as AI data-centre hundreds improve.

He additionally highlighted Tantalus as a possible M&A goal, noting that its TRUSense expertise is hardware-agnostic and will permit a big industrial acquirer to deploy grid-edge analytics throughout opponents’ put in meter bases. Tucci mentioned that shortage worth may attraction to world industrial teams searching for to purchase progress somewhat than construct it organically.

Haywood modestly raised its ahead estimates, growing its fiscal 2026 income forecast to US$62.8-million from US$61.7-million, whereas sustaining Adjusted EBITDA at US$3.8-million. Fiscal 2027 income is now projected at US$77.2-million, with Adjusted EBITDA of US$7.6-million.

Tucci mentioned Tantalus is predicted to generate US$2.8-million in Adjusted EBITDA on US$53.7-million of income in fiscal 2025.

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