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Silver Spring Networks Announces $100 Million Financing

Accelerating Smart Grid Initiatives in Response to Strong Global Demand

Redwood City, CA, December 15, 2009 - Silver Spring Networks, a leading Smart Grid solutions provider, today announced the closing of a $100 million preferred equity round. The financing will be used for development of new smart grid applications, job growth and the continued expansion of Silver Spring’s global footprint.

“We have a terrific opportunity to accelerate the development and deployment of next generation smart grid initiatives,” said Warren Jenson, Chief Financial Officer of Silver Spring Networks. “At a time when world leaders have gathered in Copenhagen, we’re honored to be partnering with some of the most progressive utilities in the world to address energy efficiency by building out the smart grid. We are pleased to have a great set of investors that share our vision.”

The investment round was led by institutional investors and included existing investors Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital.

About Silver Spring Networks

Silver Spring Networks is a leading smart grid networking platform technology and solutions provider. We have connected over 10 million homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Our innovative products enable utilities to gain efficiencies,integrate renewable energy sources and empower customers to monitor and manage energy consumption. Silver Spring Networks’ utility clients include Baltimore Gas & Electric, CitiPower & Powercor, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric and Pepco Holdings, Inc. among others.  For more information please visit www.silverspringnet.com.

Media Contact:
Alisa Weinstein
PR@silverspringnet.com
(415) 308-5338

Investor Contact:
Tricia Gugler
tgugler@silverspringnet.com
(650) 780-4504