Redwood City, CA – February 22, 2011 – Silver Spring Networks, a leading provider of smart grid platforms, has been included in the 2011 TR50, Technology Review’s annual list of the world’s most innovative technology companies. Silver Spring’s inclusion is based on its innovative smart grid solutions that are helping to standardize the way disparate parts of the grid communicate.
In selecting the TR50, the editors of Technology Review look for companies that are setting the agenda in an increasingly important market, on the verge of disrupting an established market, or creating an entirely new market. Spanning energy, computing, the Web, biomedicine, and materials, the companies on the list are using their inventions to reshape their industries and to transform how we live.
“Creating a smarter power grid is critical to efforts to modernize our energy infrastructure,” said Jason Pontin, Editor in Chief and Publisher of Technology Review. “Silver Spring Networks has emerged as a clear leader in developing hardware, software and services to bring computer intelligence to the electric grid.”
The 2011 TR50 highlights the significant changes underway in technology, particularly in the areas of computing and energy. Utilities are using Silver Spring’s networking technology to meet increasing demand for electricity by doing more with the power plants they have rather than building new ones. Thanks to the company’s Smart Energy Platform, Oklahoma Gas and Electric, for instance, is managing demand so much better that it has been able to shelve plans for two new power plants, which would have cost up to $320 million to build.
“We are pleased to be recognized for our work in advancing smart grid networking technology,” said Scott Lang, Chairman, President and CEO of Silver Spring Networks. “Together with our utility clients, we are paving the way for the deployment of the smart grid across the United States and around the world, and we are proud to be recognized for our innovative solutions that are harnessing the tremendous benefits of the smart grid.”
Silver Spring Networks and the other companies included in the 2011 TR50 will be featured in the March/April edition of Technology Review and is posted on the Web at www.technologyreview.com/companywatch/tr50/.
About Silver Spring Networks
Silver Spring Networks is a leading smart grid platform provider that enables utilities to achieve operational efficiencies, reduce carbon emissions and empower their customers with new ways to monitor and manage their energy consumption. Silver Spring provides the hardware, software and services that allow utilities to deploy and run multiple smart grid solutions, including Smart Metering, Demand Response, Distribution Automation and Distributed Generation, over a single, unified network. Silver Spring’s Smart Energy Platform is based on open, Internet Protocol (IPv6) standards, allowing continuous, two-way communication between the utility and devices on the grid. Silver Spring has numerous deployments with leading utilities around the world, including Baltimore Gas & Electric, CitiPower & Powercor, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Inc., and United Energy Distribution, among others. For additional information, please www.silverspringnet.com.
About Technology Review, Inc.
Technology Review is an independent media company owned by the Massachusetts Institute of Technology (MIT). More than two million people around the globe read our publications, in five languages and on a variety of digital and print platforms. We publish Technology Review magazine, the world’s oldest technology magazine (established 1899); daily news, analysis, opinion, and video; and Business Impact, which explains how new technologies are transforming companies, disrupting markets, or creating entirely new industries. We also produce live events.
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