Award Recognizes the 100 Most Promising Companies Driving the Future of Technology
Redwood City, CA, May 15, 2008 – Silver Spring Networks, the leading provider of Smart Energy Networks, has been named to the Red Herring 100, an award that recognizes the 100 most innovative, privately held companies in North America. The Red Herring editorial board surveyed the private company sector throughout North America and selected the Top 100 from a group of more than 800 closely evaluated companies that are leading the next wave of innovation. Silver Spring Networks was selected for developing an open, extensible, secure, high performance networking platform that enables utilities worldwide to deliver the full promise of the Smart Grid while realizing significant operational and environmental benefits.
Utilities face a variety of challenges, from maintaining an aging infrastructure to addressing global climate change. The Smart Energy Network, from Silver Spring Networks, delivers a proven approach to utility networking. The Smart Energy Network is built upon the same open, IP networking technologies used in IT, telecom, cable and other industries for years. With an IP-based Smart Energy Network in place, a utility can “plug and play” any variety of devices, deploy consumer energy portals, perform intelligent load shedding, enable remote disconnect and more. By making the grid more efficient, the US could save over $3 billion dollars annually and help drastically reduce carbon emissions.
“We are excited about this award as it recognizes the value of the Smart Grid to delivering energy efficiency” explains Eric Dresselhuys, Silver Spring Networks Vice President. “Our customers are the leaders in addressing global climate issues while continuing to deliver low-cost, reliable services to their consumers. As a partner in these efforts, Silver Spring Networks is delighted to offer the enabling technologies to make the Smart Grid real. This is technology that is ready for field deployment today and can have an immediate impact on increasing the efficiency of the electrical grid.”
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. Silver Spring Networks was named a Technology Pioneer at the World Economic Forum in Davos, Switzerland and was recent recipient of GoingGreen and Brilliant Innovation Awards in 2007. For additional information, visit us at www.silverspringnet.com.
About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.
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