MEXICO CITY & SAN JOSE, Calif.--(BUSINESS WIRE)--Silver Spring Networks, Inc. (NYSE: SSNI) today announced the expansion of its program for Comisión Federal de Electricidad’s (CFE) ‘Reducción de Pérdidas de Energía en Distribución’ (Loss Reduction Projects on Distribution) smart grid program, in partnership with Tecnologías EOS. Silver Spring Networks’ standards-based wireless IoT technology will be integrated into EOS subsystems to connect approximately 92,000 Advanced Metering Infrastructure (AMI) devices across Mexico City’s Southern District and approximately 71,000 AMI devices in Southeast Mexico through cabinet-based solutions. Silver Spring Networks previously detailed the award to connect 71,000 AMI devices in Southeast Mexico during its second quarter 2016 earnings conference call on August 4, 2016.
CFE, the largest utility in the Americas, serves more than 40 million customers across 16 divisions throughout Mexico. With today’s announcement, Silver Spring will be present in three of CFE’s divisions. In 2015, Silver Spring announced its selection to connect 140,000 AMI devices in Mexico City’s Central District. CFE recently unveiled its 2017-2021 Plan, which includes a $13.7 billion investment in distribution networks, including modernization and the development of a smart grid.
Silver Spring has partnered with Tecnologías EOS at CFE to integrate Silver Spring’s IPv6 platform and SensorIQ™, an application for data collection and delivery to enable remote reading, command, and control of the meters housed in a cabinet to help prevent non-technical loss for residents and businesses. The cabinet solution will also enable Tecnologías EOS to provide remote indoor displays to help customers monitor their energy usage.
“Silver Spring Networks’ deployment in Mexico delivers on its promised benefits by helping CFE improve the reliability of its service and give its customers the tools to better manage their energy usage,” said Bernardo Castro Inclan, CEO, Tecnologías EOS. “Its proven multi-application network delivers the security, scalability, performance and range required to meet the unique needs of these service areas dramatically varied dense urban and remote rural topographies.”
“Through our collaboration with Tecnologías EOS, CFE, the largest utility in the Americas, is deploying Silver Spring Networks’ smart grid solutions in two of Mexico City’s three service districts,” said Dave Whalen, General Manager – Americas, Silver Spring Networks. “Advanced metering helps address inefficient use of energy, improves grid reliability, lowers pollution, and enables the utility to deliver better quality of service for increased customer satisfaction. CFE’s success with loss reduction through its use of smart grid solutions provides a clear example for other energy providers in high-growth markets that are looking to modernize their infrastructure while maintaining profitability.”
With more than 26 million enabled devices delivered, Silver Spring works with utilities on five continents including AEP Ohio, AusNet Services, Baltimore Gas & Electric, CESC Limited, CitiPower and Powercor, ComEd, Consolidated Edison, CPFL Energia, CPS Energy, Dubai Electricity and Water Authority, Florida Power and Light Company, Pepco Holdings Inc., and Singapore Power, to deliver its proven, reliable and IPv6 standards-based platform.
For more information, please visit www.ssni.com/solutions/smart-utilities/.
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About Silver Spring Networks
Silver Spring Networks enables the Internet of Important Things™ by reliably and securely connecting things that matter. Cities, utilities, and companies on five continents use the company’s cost-effective, high-performance IoT network and data platform to operate more efficiently, get greener, and enable innovative services that can improve the lives of millions of people. With more than 26.0 million devices delivered, Silver Spring provides a proven standards-based platform safeguarded with military grade security. Silver Spring Networks’ customers include Baltimore Gas & Electric, CitiPower & Powercor, ComEd, Consolidated Edison, CPS Energy, Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, and Singapore Power. Silver Spring has also deployed networks in Smart Cities including Copenhagen, Glasgow, Paris, Providence, and Stockholm. To learn more, visit www.ssni.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 benefits of Silver Spring’s engagement with Tecnologías EOS and CFE. 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 the successful implementation and deployment of the engagement, as well as those described in Silver Spring Networks’ documents filed with or furnished to 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.