REDWOOD CITY, Calif.--(BUSINESS WIRE)--Silver Spring Networks, Inc. (NYSE:SSNI) today announced an enhanced smart water solution for utilities which offer water service in combination with electric service to their customers. The Silver Spring IPv6 network enables multi-service advanced metering, helping provide the high performance, operational savings and advanced functionality previously embraced primarily by larger Investor-Owned-Utilities.
“Traditionally, water utility customers have had limited options to manage their usage, as they would retrospectively receive their bill at the end of the month, quarter, or year. With our next-generation, two-way water solution, we are going beyond simple meter reading by providing a more granular and interactive experience that includes on-demand reads, interval data collection and asynchronous alarming, all while maintaining the industry’s leading security solution,” said Josh Roper, Vice President of Advanced Metering Infrastructure, Silver Spring Networks. “In the same way that utilities are starting to leverage a single, multi-application network for advanced metering infrastructure and street lights, they now also have the option to offer their customers near real-time understanding of their water usage.”
“Utilities are finding that the current analog ‘business as usual’ for water service no longer makes sense financially; we estimate that they can save around $12.5 billion through the implementation of smart water technology,” said Jason Rodriguez, CEO and Director of Research for Zpryme Research. “For multi-service utilities, the smart water market is becoming more of a priority as they see the benefits achieved from advanced metering infrastructure and other smart grid technologies.”
Silver Spring is already set to deploy its next generation smart water solution with City Utilities of Springfield, a multi-service municipal utility offering electric, gas and water services in Springfield, Missouri.
“Silver Spring’s solution allows us to manage electric, gas and water meters with a single network, reducing deployment and operations costs,” said Scott Miller, General Manager, City Utilities of Springfield. “This solution provides innovative options for our customers in all three commodities.”
As part of Silver Spring’s enhanced smart water solution, Silver Spring will be integrating its standards-based IPv6 network with multiple modules from Master Meter to deliver its two-way advanced water solution for municipal and co-op utilities. With this announcement, Silver Spring continues to add to its ecosystem of water device partners, including Master Meter and Itron, and can support new smart water meter installations as well as retrofits to the majority of water meters currently deployed in North America.
“We are working with Silver Spring to deploy technology that empowers the midmarket to give their customers the option to be smarter about their water consumption through personalized phone apps and data presentment,” said Jerry Potter, President and CEO, Master Meter. “With our expanding solutions portfolio, our partners and customers have broad choice in deploying advanced water solutions that best suit their business needs.”
For more information visit www.silverspringnet.com/watermeters
Speed-to-Value Program Offers Smart Infrastructure for Unique Needs of Municipal and Cooperative Utilities
The smart water solution will be a part of Silver Spring’s Speed-to-Value program, which enables muni and co-op utilities to integrate cellular capability, called MicroAP technology, to their existing smart grid network canopies to scale out their programs to easily and quickly add new customers and services. The same network can also be used to deliver additional applications including Advanced Metering Infrastructure for natural gas customers, Demand Response, Distribution Automation, intelligent street lights, and other critical infrastructure applications over time.
Silver Spring is working with municipal and cooperative utilities such as CPS Energy, Modesto Irrigation District, Sacramento Municipal Utility District, Snohomish County Public Utility District and more, to unlock smart infrastructure benefits today.
For more information visit www.silverspringnet.com/bigsolutions
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About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 19 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, Progress Energy and Singapore Power, 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 benefits of Silver Spring’s enhanced smart water solution, and smart water technology generally, to utilities and their customers; Silver Spring’s engagement with City Utilities of Springfield and other municipal and cooperative utilities; and Silver Springs’ partnerships with Master Meter and other water device partners. 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' 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.