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Silver Spring Networks Acquires Greenbox Technology Inc.

Integrates home energy management portal into Silver Spring's Smart Energy Network, making the smart grid real for consumer

Washington, DC, and Redwood City, CA September 22, 2009 - Silver Spring Networks, a leading provider of Smart Grid solutions, announced today that it entered into an agreement to acquire Greenbox Technology, an innovative provider of web-based energy management software. The Greenbox™ interactive energy management web portal, built by the creators of Flash™, delivers on a key benefit of the Smart Grid - enabling consumers to track, understand and manage their energy usage more efficiently.

"We're thrilled to have the distinguished Greenbox Technology team join us," said Judy Lin, Chief Product Officer of Silver Spring Networks. "We are working with utilities to build the platform for a smarter grid. This acquisition allows Silver Spring to provide another critical application: a smart and intuitive energy-management portal. The Greenbox technology also allows consumers to engage in time-of-use and other Smart Grid-enabled energy-saving programs."

Silver Spring's Smart Energy Network is a field-proven, IP-based network technology that creates a secure, intelligent end-to-end communications platform for the Smart Grid. Both companies' use of IP-based, open web interfaces and standard data-access techniques simplifies the delivery of a consumer energy portal that easily integrates with the utility's back-office systems, making deployment faster and more cost effective.

"Greenbox Technology has been a part of the Silver Spring Technology Alliance Partnership Program, and our companies have successfully worked together to deliver on the promise of an intelligent, networked electric grid," said Jonathan Gay, Founder and CTO, Greenbox Technology. "By joining Silver Spring Networks, we can deploy our home energy-management solution much faster and more broadly than we could alone. It's a winning combination for utilities and consumers."

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.

About Greenbox Technology Inc.

Greenbox Technology Inc. is an innovative provider of web-based energy management solutions for utilities and residential energy customers. Greenbox products enable homeowners to conveniently track, understand, and manage their utility usage, reducing their environmental footprint while saving money. Through world-class usability design and insightful analysis of home resource usage, Greenbox Technology empowers people to make informed choices about their utility use that are aligned with their values and priorities. For additional information, visit www.getgreenbox.com.

Media Contact:
Silver Spring Networks
Kate Guerin
PR@silverspringnet.com
(860) 810-5657