April 7, 2014
Silver Spring Networks, Inc. (NYSE:SSNI), a leading networking platform and solutions provider for smart energy networks, announced a teaming agreement with Smarter Grid Solutions, a leading European vendor of Distributed Energy Resources (DER) integration solutions. Customers will be able to leverage a solution that integrates Smarter Grid Solutions' autonomous grid management technology with Silver Spring's proven IPv6 smart grid networking platform. Together, this enables electrical grid operators to proactively manage renewable energy sources and grid devices. The innovative approach provides effective monitoring and management of grid constraints and improves the overall reliability and efficiency of the grid.
The joint solution builds on Silver Spring and Smarter Grid Solutions' existing engagement at the successful Flexible Plug and Play project, delivered to client UK Power Networks, the distribution network operator for London, and the South East and the East of England. In the Flexible Plug and Play (FPP) project, Silver Spring's networking technology connects an array of distribution equipment across a deployment of intermittent wind and solar resources in Cambridgeshire, UK. This deployment also successfully demonstrated the use of the IEC 61850 protocol across a radio mesh field area network.
At the core of the FPP project, Smarter Grid Solutions' Active Network Management technology monitors the electricity grid using data provided by Silver Spring's field area network. The system autonomously calculates the available capacity of the grid and issues real-time control instructions to participating DERs. The project has delivered significant savings to UK Power Networks on the capital expenditures otherwise required to reinforce the project area.
'Utilities have enormous challenges in maintaining reliability while integrating new sources of generation using traditional network reinforcement and reliability schemes,' said Eric Dresselhuys, Executive Vice President of Global Development, Silver Spring Networks. 'By offering this proven solution to our customers, Silver Spring and Smarter Grid Solutions are enabling utilities, and ultimately the end consumer, to save money and enjoy the benefits of a cleaner, more reliable and more efficient energy grid.'
'In the course of delivering several successful projects, we have found that many utilities were making long-term grid reliability decisions without fully integrating their strategy for the underlying communications fabric,' said Gerry Docherty, Chief Executive, Smarter Grid Solutions. 'In order to run the next generation of distributed, intelligent applications, we need reliable, responsive communications infrastructure that doesn't risk the fundamental utility business case. Silver Spring's proven IPv6 networking platform makes them the ideal partner to ensure these criteria are met.'
To commemorate the new Silver Spring and Smarter Grid Solutions teaming agreement, the Rt Hon Alex Salmond MSP, First Minister of Scotland, joined executives from both companies at a signing ceremony that also celebrated the official opening of Smarter Grid Solutions' North American headquarters in New York City.
Silver Spring Networks 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 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.
About Smarter Grid Solutions
Smarter Grid Solutions creates and delivers technologies that help electricity distribution companies and utilities to integrate Distributed Energy Resources (DER). The company specializes in Active Network Management, which uses software, automation and control to monitor the electricity grid in real time. This allows power companies to improve the operation of their electricity grid and manage their connected customers, without compromising safety and security. Smarter Grid Solutions is a leading European vendor of DER integration solutions. It services customers worldwide and is headquartered in Glasgow, with offices in London and New York. Investors include Scottish Equity Partners, the Scottish Investment Bank and the University of Strathclyde. http://www.smartergridsolutions.com
About UK Power Networks
UK Power Networks distributes more than a quarter of the UK's electricity through its networks of substations, underground cables and overhead lines making sure the lights stay on across London, the South East and the East of England. The company's 5,200 employees are dedicated to delivering a safe, secure electricity supply to 8.1 million homes and businesses regardless of who they pay their energy bills to. The industry regulator Ofgem sets an allowed revenue to distribution companies so that they can maintain safe and reliable electricity supplies. UK Power Networks invests more than £500 million in its electricity networks every year and is also undertaking trials to ensure that electricity networks support the transition to a low carbon future. It also maintains and upgrades power equipment, and moves and connects new electricity cables. If customers are unfortunate enough to be affected by a power cut or have another issue with the electricity supply to their property, they should contact UK Power Networks. www.ukpowernetworks.co.uk
This press release contains forward-looking statements about Silver Spring Networks' expectations, plans, intentions, and strategies, including, but not limited to statements regarding Silver Spring Networks' teaming agreement with Smarter Grid Solutions, the performance and capabilities of the joint solution, and cost savings and other benefits customers and end consumers may realize from the joint solution. 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 of the teaming agreement between Silver Spring Networks and Smarter Grid Solutions, 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.
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