March 6, 2014
Silver Spring Networks, Inc. (NYSE: SSNI), a leading networking platform and solutions provider for smart energy networks, announced it has been selected by Florida Power & Light Company (FPL) for North America's largest networked street light deployment under contract.
FPL plans to deploy Silver Spring's wireless IPv6 mesh networking technology and management and control software to connect and control 75,000 street lights in the Miami-Dade County region. FPL expects the remote monitoring and control capabilities of the system to significantly improve street light restoration response times and enhance the quality of service to its street light customers. This is an important step in an ongoing effort to modernize and network FPL's power delivery system, including the nearly 500,000 street lights FPL maintains throughout the company's 35-county service area.
'Silver Spring's networking technology and street light solution should enable FPL to deliver an even better experience for our customers throughout South Florida,' said Eric Silagy, President of FPL. 'With this new street light technology we expect to leverage our smart grid investments and ensure greater efficiencies and reliability for our street light and existing smart grid networks.'
'Building on the strength and success of its smart grid initiative, FPL is once again demonstrating its leadership in leveraging the most advanced technology to drive efficiency, increased reliability, and enhanced service for its consumers,' said Scott Lang, Chairman, President and CEO, Silver Spring Networks. 'We are proud to extend our relationship with FPL and support its ongoing efforts to deliver even more benefits to its customers.'
In addition to its networked street lights deployment in Florida, Silver Spring's smart street lighting solution has been selected for projects in iconic cities such as Copenhagen and Paris. Copenhagen, the world's most sustainable city, is looking to Silver Spring to deploy a citywide canopy network to connect more than 20,000 street lights. In Paris, Silver Spring has been selected for an advanced street lighting and traffic controls program as the city seeks to reduce its public lighting energy consumption by 30 percent over the next ten years.
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 more than 18 million Silver Spring enabled devices delivered, is connecting utilities to homes and businesses 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.
Florida Power & Light Company is the largest rate-regulated electric utility in Florida and serves the third-largest number of customers of any electric utility in the United States. FPL serves approximately 4.7 million customer accounts and is a leading Florida employer with approximately 8,900 employees as of year-end 2013. FPL's typical 1,000-kWh residential bill is the lowest among reporting electric utilities in Florida as of year-end 2013, and based on data available in July 2013, is about 28 percent below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL delivered better than 99.98 percent service reliability as of year-end 2013. FPL has earned the national ServiceOne Award for outstanding customer service for an unprecedented 10 consecutive years. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.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 FPL. 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.
For more information:
Silver Spring Networks, Inc.
555 Broadway Street
Redwood City, California
United States, 94063
Contact person: Noel Hartzell, Global Communications
Silver Spring Networks