San Jose, CA and Singapore — October 9, 2017 — Silver Spring Networks, Inc. (NYSE: SSNI) today announced that it has been recognized as the Asia-Pacific Smart Utility Platform Provider of the Year by Frost & Sullivan. Frost & Sullivan selected Silver Spring Networks for its multi-purpose platform that can develop, run, and manage a variety of applications across electricity, water, and gas networks, aimed at improving operational efficiency and designed to expand to future applications such as smart street lights and other smart city services. With proven reliability, security, and scalability, Silver Spring’s IPv6 standards-based platform has been helping connect devices in some of the most rigorous environments in the world, seamlessly integrating assets across a utility or city, and providing improved levels of service to consumers.
This is the second year in a row that Silver Spring Networks has received an Asia-Pacific regional award from Frost & Sullivan for its smart grid and smart utility initiatives. In 2016, Silver Spring received the Frost & Sullivan Asia-Pacific Smart Grid Service Provider of the Year Award.
“Until recently, utility customers in the region have only been exposed to vertical solutions, which has meant lower lifecycle value from their investment and, very often, vendor lock-in resulting in limited functionality,” said Alex Beveridge, General Manager – Asia Pacific, Silver Spring Networks. “The increasing adoption of open, standards-based technology means that energy providers in the Asia Pacific region can unlock the smart grid market and use this same technology to evolve to other industrial Internet of Things initiatives over time. We are thrilled that Silver Spring Networks has been recognized by Frost & Sullivan as the example of a platform-based solution that can offer these utility customers future value.”
“Silver Spring Networks is a leading smart utilities provider offering an open standards-based platform for applications such as electric, water, smart street lights, and industrial IoT. The platform is renowned for its advanced technology that can interoperate with a wide range of products from a broad range of global and local partners, ensuring high performance, reliability, and security,” said Avanthika Satheesh, Industry Analyst, Energy & Environment, Frost & Sullivan. “In 2016, the company showed remarkable momentum in Asia Pacific, primarily attributed to the smart utility projects with CESC Limited in India, SP Group in Singapore, and for customers in the State of Victoria. All these factors have helped Silver Spring Networks to achieve success in the smart utility platform market in the region.”
With more than 2.9 million enabled devices delivered in Asia Pacific, Silver Spring has demonstrated solid progress in the region. Within the past year, Silver Spring has announced the expansion of its existing programs with customers CESC India and Singapore Power. Elsewhere in the region, Silver Spring smart utility customers include AusNet Services, CitiPower & Powercor, Horizon Power, Jemena, SmartCo, Unison, United Energy, WEL Networks, and Western Power. In total, Silver Spring Networks has more than 26.7 million enabled devices delivered across five continents.
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About Silver Spring Networks
Silver Spring Networks enables the Internet of Important Things™ by reliably and securely connecting things that matter. Cities, utilities, and companies on five continents use the company’s cost-effective, high-performance IoT network and data platform to operate more efficiently, get greener, and enable innovative services that can improve the lives of millions of people. With more than 26.7 million devices delivered, Silver Spring provides a proven standards-based platform safeguarded with military grade security. Silver Spring Networks’ customers include Baltimore Gas & Electric, CitiPower & Powercor, ComEd, Consolidated Edison, CPS Energy, Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, and Singapore Power. Silver Spring has also deployed networks in Smart Cities including Copenhagen, Glasgow, Paris, Providence, and Stockholm. To learn more, visit www.ssni.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 benefits of Silver Spring’s platform, solutions and services and the performance of Silver Spring’s platform. 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.