Landmark Program Creates Smarter, More Reliable Energy Infrastructure for Florida Residents; Establishes the Foundation for Future Smart Energy Services
JUNO BEACH, Florida – April 24, 2013 – Today Silver Spring Networks, Inc. (NYSE: SSNI) joined representatives of Florida Power & Light Company (FPL), General Electric (NYSE: GE), and the U.S. Department of Energy in a ceremony to celebrate the success of FPL’s pioneering ‘Energy Smart Florida’ initiative and to demonstrate the benefits of advanced smart grid networks at FPL’s Performance and Diagnostic Center. FPL was one of the first utilities to take a “network first” approach to grid modernization and proactively make the infrastructure investments that today enable greater energy efficiency and improved service reliability, while giving customers more control over the energy they use. In the initial phase of the multi-year ‘Energy Smart Florida’ initiative, FPL and Silver Spring successfully connected more than 4.5 million FPL customers to the first smart grid network of its kind, helping them reap the benefits of this infrastructure modernization investment.
“FPL is a true industry leader – its vision to put a network at the heart of its smart grid transformed the way the industry thinks about grid modernization and positions FPL to continue delivering long-term innovation on behalf of its customers,” said Daniel J. Middleton, Executive Vice President of Sales, Silver Spring Networks. “What started with 100,000 homes in Broward County now serves more than 4.5 million homes and businesses across Florida. We’re proud that millions of residents now benefit from improved service reliability, better outage prevention and speedier restoration, and greater ability to manage and control their energy consumption.”
“FPL and Silver Spring began this journey with the common vision that a single, cornerstone network platform would enable a multitude of smart energy services for our customers – and we are thrilled to have completed this initial phase of the program ahead of schedule and in record time,” said Bryan Olnick, FPL’s vice president of Customer Service Smart Grid Solutions. “An open, standards-based networking platform was essential to the success of the ‘Energy Smart Florida’ program. But this is only the beginning; we now have a foundation for a wide array of future smart grid services delivering increased value to our customers.”
Silver Spring’s standards-based networking platform unlocks more value by enabling multiple smart grid applications to be deployed atop a single network. In addition to advanced energy metering, FPL is also leveraging Silver Spring’s smart grid networking platform for Distribution Automation and advanced Smart Grid Analytics solutions. New devices and sensors deployed on the smart grid, and data-driven operational insights gained from innovative analytics, expand the functionality and performance of FPL’s distribution system, increasing reliability and reducing operations and maintenance costs. These investments are helping FPL be much more proactive in managing its power systems and continue improving the value FPL delivers to customers.
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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 15.8 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, Inc., and Progress Energy, 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 Silver Spring’s engagement with Florida Power & Light. 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 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.