Redwood City, CA, July 29, 2008 – Silver Spring Networks announced today that it has been selected by Pacific Gas and Electric Company (PG&E) to provide advanced networking products and services to serve its 5 million electric customers in California. Silver Spring was selected after a rigorous market review and field testing, to support PG&E’s SmartMeter™ Program Upgrade. Silver Spring Networks and PG&E have signed a definitive agreement and deployment activity is underway, with full metering deployment expected to be completed by 2012.
PG&E will initially focus on using Silver Spring Networks’ technology to support advanced metering and home networking applications. In addition, Silver Spring Networks provides an open, secure, proven networking platform that will enable PG&E to realize additional operational and environmental benefits in the future.
Under the agreement, Silver Spring Networks will provide network infrastructure, network devices, operating software and a variety of services in long-term support of PG&E’s efforts. Although initial deployments are scheduled to be completed within 5 years, the contract extends to provide continued support and expansion over 20 years. Under the agreement, PG&E will have broad flexibility in managing the timing and scope of its technology deployments. In addition, certain services and products under the agreement are contingent on regulatory approval as part of PG&E’s SmartMeter™ Program Upgrade.
As a provider of electricity and natural gas to approximately 40 percent of Californians, 1 in 20 Americans, or 15 million consumers in a service territory of 70,000 square miles, PG&E is a leader in environmental excellence, energy efficiency and enabling technologies. In 1976, PG&E became one of the first utilities to offer energy-efficiency programs. Energy efficiency programs are the fastest, most cost-effective way to reduce greenhouse gas emissions and combat global climate change.
About Silver Spring Networks
Silver Spring Networks creates the critical networking infrastructure for the Smart Grid, known as a Smart Energy Network. Based on the Internet Protocol (IP) suite, it addresses the challenges of running multiple applications and devices on a common networking infrastructure using multiple transport technologies, dramatically improving efficiency, lowering costs and ensuring the reliable delivery of services. This smarter, more efficient grid could cut the growth rate of worldwide energy consumption by more than half over the next 15 years and drastically reduce carbon emissions. Silver Spring Networks was named a Technology Pioneer at the 2008 World Economic Forum in Davos, Switzerland, was named to the 2008 Red Herring 100, 2008 Global 250 and was a recipient of the GoingGreen and Brilliant Innovation Awards in 2007. For additional information, visit www.silverspringnet.com.