REDWOOD CITY, Calif.--(BUSINESS WIRE)--Silver Spring Networks, Inc. (NYSE: SSNI), a leading networking platform and solutions provider for smart energy networks, today announced it is entering the next phase of the project to provide a foundational networking platform supporting a new EDP Distribuição smart grid initiative in Portugal. The project will take place in the municipality of Batalha and is part of EDP’s continued implementation of smart grid technology following the successful and award-winning InovGrid initiative. The project will combine advanced Distribution Automation features to minimize customer interruptions together with consumption and generation-intensive duty-cycle automated meter reading, enabling new customer services and a smarter integration of distributed generation supported by an active distribution system management, all using the same standards-based communications platform. Silver Spring’s open, IPv6 networking platform enables utilities of all sizes and across all geographies to deploy a broad set of smart grid applications atop a common platform.
“We’re proud to help EDP Distribuição unlock more value and better serve their customers with our proven, market-leading smart grid networking platform,” said Scott Lang, Chairman, President and CEO, Silver Spring Networks. “We look forward to continued success in our project and helping EDP Distribuição continue to transform its power grid.”
“We believe that Silver Spring is a partner that can help us to achieve our smart grid vision in this new project,” said João Torres, CEO of EDP Distribuição. “Silver Spring's multi-application networking platform has demonstrated its performance in a previous pilot project and we now want to extend it to more customers and deliver a wide array of advanced smart grid services.”
The Silver Spring Smart Energy Platform ensures seamless and system-wide connectivity and interoperability, establishing a foundation for multiple smart grid solutions to be deployed atop a common IPv6 network. Utilities benefit from improved operational efficiency, greater grid reliability, increased energy efficiency, and the ability to empower their consumers to take greater control over their energy consumption. This networking platform can be rapidly scaled across a diverse service territory, allowing utilities to quickly and economically expand their smart grid services offerings and add new solutions on the same, standards-based platform. For more information please visit www.silverspringnet.com/solutions.
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About Silver Spring Networks
Silver Spring Networks (NYSE: SSNI) is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with 17 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, and Progress Energy, among others. To learn more, please visit www.silverspringnet.com.
This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to statements regarding the scope and duration of Silver Spring’s project with EDP Distribuição. Statements including words such as "anticipate", "believe", "estimate", "expect" or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks' Form 10-Q for the quarter ended June 30, 2013 filed with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.