Cooperative Leverages Multi-Application Network and Managed Services to Unlock Smart Grid Benefits for its Customers
Redwood City, CA and Denton, MD – October 9, 2014 – Silver Spring Networks, Inc. (NYSE: SSNI) today announced that it has been selected for an advanced metering infrastructure (AMI) deployment by Choptank Electric Cooperative, which serves over 52,000 members on Maryland’s Eastern Shore. Silver Spring’s multi-application IPv6 network platform and managed services will connect Choptank’s members across its 7,500 square mile service territory, while providing the option to cost-effectively add additional smart grid applications in the future.
“Millions of people nationwide are served by cooperative utilities, and we view this market as one that holds significant opportunity in providing energy advances to operators and the members they serve,” said Eric Dresselhuys, EVP of Global Development and Sales, Silver Spring Networks. “We are honored to partner with Choptank to leverage our proven, standards-based networking infrastructure and rapidly deploy smart grid solutions and services for the citizens of Maryland’s Eastern Shore, while building a long-term foundation that can offer to unlock more value for Choptank Electric and its members.”
“Our geographic location and rural service territory means improved grid reliability, remote connect / disconnect, advanced outage management and other smart grid benefits are critical advanced energy services for our members,” said Mike Wheatley, President and CEO, Choptank Electric Cooperative. “Silver Spring’s proven platform, managed services and breadth of its partnerships were critical in our selection process. Additionally, their commitment to open standards and interoperability with MultiSpeak were crucial in helping us avoid the expense and time of costly integrations.”
Out-of-the-Box Interoperability with MultiSpeak
As an industry standards leader, Silver Spring is committed to driving standards for technology interoperability to help simplify back-end software integration and accelerate deployment of smart grid technologies for the midmarket. Silver Spring is already a certified member of the MultiSpeak community, supporting key standards for application interoperability while helping eliminate the high costs and time-to-market that are often associated with more complex system integrations.
For more information on Silver Spring’s work with cooperative and municipal utilities, please visit www.silverspringnet.com/bigsolutions/
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About Choptank Electric Cooperative
Choptank Electric is an electric distribution cooperative serving over 52,000 members on Maryland’s Eastern Shore. Founded in 1938, Choptank Electric is committed to providing safe, reliable, and cost effective electricity to its members. Read more about Choptank Electric at www.choptankelectric.coop
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 19 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
Silver Spring Networks
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 Choptank Electric Cooperative. 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 and deployment of the Choptank engagement, 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.