Silver Spring Networks and Varentec Partner on Grid Optimization Solution Varentec's Grid Edge Control' Solution to Integrate with Silver Spring IPv6 Smart Grid Networking Platform for Utility Grid Voltage Optimization
Silver Spring Networks, Inc. (NYSE:SSNI) announced that Varentec, Inc. and Silver Spring Networks are integrating Varentec's Grid Edge Control' Solution with Silver Spring's IPv6-based smart grid networking platform to provide utilities with greater Voltage/VAR Optimization and Conservation Voltage Reduction (CVR) capabilities. Varentec's ENGO field hardware will leverage Silver Spring's proven, multi-application network to help utilities proactively achieve better grid control and also manage renewable energy sources, including solar photovoltaic, on the grid. Together, the Distribution Automation solution driven by Silver Spring and Varentec technologies will offer utilities a combination of control and monitoring capabilities that will give utilities proactive, granular results to help achieve energy conservation and improve grid reliability.
'Silver Spring is thrilled to have this relationship with Varentec, who is providing an entirely new level of grid edge control for the utility industry,' said Eric Dresselhuys, Executive Vice President of Global Development, Silver Spring Networks. 'The addition of Varentec's capabilities to the Silver Spring Partner Program provides new solutions to utilities implementing Voltage/VAR control and CVR, and reinforces that Silver Spring provides one of the most robust ecosystems for choice, control, cost leverage, and reducing risk.'
'Varentec brings expanded control and monitoring capabilities to be leveraged beyond the meter,' said Andrew Dillon, Vice President of Business Development, Varentec. 'Combined with Silver Spring's innovative, multi-application IPv6 network, the partnership will offer utilities grid modernization that will be able to deliver more reliable power quality, increase energy efficiency and reduce response time in the event of a grid disturbance.'
Silver Spring has over 18.5 million IPv6-enabled devices delivered for smart grid networks across five continents. Varentec's Grid Edge Control' technology has been deployed at multiple utilities in the USA, and several countries around the world.
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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 18.5 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 Varentec, Inc.
Varentec is a leader in Grid Edge Control' which brings fast, efficient control to the grid edge, to improve energy efficiency and integration of renewable energy on the electric grid. Funded by Khosla Ventures and Bill Gates, Varentec is located in San Jose, CA. Varentec's Grid Edge Control' technology is in use at multiple electric utilities in the USA as well as several countries around the world.
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' agreement with Varentec, the performance and capabilities of the integrated solution, and benefits utilities may realize from the integrated 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 agreement between Silver Spring Networks and Varentec, 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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