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4-Traders Homepage  >  Equities  >  Nyse  >  Silver Spring Networks Inc    SSNI

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Silver Spring Networks Inc : Silver Spring Networks Extends Smart Infrastructure Platform for Unique Needs of Municipal and Cooperative Utilities

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03/25/2013 | 12:34pm CEST
Silver Spring Networks Extends Smart Infrastructure Platform for Unique Needs of Municipal and Cooperative Utilities New Ready-to-Deploy Municipal and Cooperative Smart Grid Solution Speeds Evaluation, Reduces Risk, Lowers Costs, and Empowers Citizens

Kissimmee, FL and Redwood City, CA - March 25, 2013- Today at the American Public Power Association's Engineering & Technical Operations conference, Silver Spring Networks, Inc. (NYSE: SSNI) announced it is extending its smart infrastructure platform with a new smart grid solution optimized for the unique needs of municipal and cooperative utilities. With a focus on making it easy to rapidly scope, deploy and test results, the new solution is a cost-effective and ready-to-deploy smart grid offering that enables municipal and cooperative utilities to rollout a sophisticated Advanced Metering Infrastructure program for electricity, water, and natural gas customers today. The new standards-based solution also establishes a foundation for future initiatives such as Demand Response, Distribution Automation, and other critical municipal infrastructure applications. Silver Spring's open IPv6-based networking platform enables utilities and infrastructure operators of all sizes, and across all geographies, to deploy a broad array of smart grid and Smart City solutions today.

"Almost 40 million customers are served by 3,000 municipal and cooperative energy providers in the US alone. Providing these operators with a cost-effective and ready-to-deploy solution means that all citizens can benefit from the full capabilities of our industry leading smart infrastructure platform," said Scott Lang, Chairman, President & CEO of Silver Spring Networks. "Our proven, standards-based networking infrastructure enables rapid deployment of new and innovative smart grid solutions and establishes the foundation for future Smart City services such as streetlight control, traffic management, and other municipal infrastructure applications."

Silver Spring is partnering with CPS Energy, the largest combined electricity and natural gas municipal utility in the United States, to deploy a smart grid network that includes advanced metering, Distribution Automation, and demand reduction solutions across CPS' San Antonio, Texas service territory. Silver Spring is also partnering with the Sacramento Municipal Utility District to deliver multiple smart grid applications over the Silver Spring network, including Advanced Metering, Distribution Automation for improved reliability, and communications to in-home devices.

"Silver Spring's open, standards-based networking platform gives us the foundation we need to deliver advanced smart grid services to all of Sacramento's citizens," said Paul Lau, Assistant General Manager of Power Supply and Grid Operations of the Sacramento Municipal Utility District.  "Much the same way smartphones have opened up a new wave of consumer applications, together with Silver Spring we are creating the platform for next-generation smart grid applications and services for our users."

The new Silver Spring Municipal and Cooperative Smart Grid Solution combines all of the networking infrastructure, hardware, head-end software, and professional services required to cost-effectively and quickly initiate an Advanced Metering Infrastructure program for electricity, water and natural gas customers today.  With this new solution, municipal and cooperative utilities can improve operational efficiency, increase overall system reliability, speed outage detection and service restoration, empower consumers, and establish a future-proofed platform for long-term power grid modernization. For more information on the new Silver Spring Municipal and Cooperative Smart Grid Solution please visit www.silverspringnet.com/bigsolutions.

Silver Spring is also expanding the functionality of its smart infrastructure platform to support Smart City solutions such as intelligent street lighting, traffic signal control, and electric vehicle charging, among others. And with more than 70 partners globally and growing, the Silver Spring Partner Program continues to expand its geographic and technical reach to deliver its customers the choice and interoperability they need today.

Join the Silver Spring Networks Conversation About Silver Spring Networks

Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Our pioneering IPv6 networking platform, with 15.8 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring's innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption.  Silver Spring Networks customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Inc., and Progress Energy, among others.www.silverspringnet.com.

Contact
Noel Hartzell
Global Communications
Silver Spring Networks
650-298-4184

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EBIT 2017 10,2 M
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P/E ratio 2017 292,97
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