Smart Energy and Smart City Innovation Hub Opens in Chicago’s Iconic Willis Tower
Chicago, IL – May 29, 2014 – Today, Scott Lang, Chairman, President and CEO of Silver Spring Networks, Inc. (NYSE: SSNI), was joined by Anne Pramaggiore, CEO and President of ComEd, to officially open Silver Spring’s new Chicago office in the iconic Willis Tower. With space for approximately 50 employees, a cutting-edge Network Operations Center, and a Smart City and Smart Energy technology demonstration facility, the new office will be an innovation hub to serve Chicago and a resource for Silver Spring’s global customer base. The ceremony also allowed Silver Spring and ComEd to showcase a vision for how Chicago can leverage next-generation technology for Smart City infrastructure to establish a foundation for long-term economic growth and improved quality of life for its citizens.
Silver Spring and ComEd are partnering on the smart grid element of ComEd’s 10-year, $2.6 billion infrastructure investment plan to strengthen the Illinois electric system. Silver Spring’s standards-based networking platform and smart grid applications will connect four million homes and businesses over the next 10 years across ComEd’s service territory and will help unlock significant operational and consumer benefits including improved outage management, increased energy efficiency, improved grid reliability, and greater empowerment for consumers.
“ComEd and Mayor Emanuel have been pioneers in leveraging advanced technology to modernize Chicago’s energy infrastructure. It’s thrilling to see their leadership continue with a compelling technology vision not only underpinning a more reliable energy network, but also a Smart City network that unlocks enormous potential for the City of Chicago and its citizens,” said Scott Lang, Chairman, President and CEO, Silver Spring Networks. “We are excited to partner on this vision and are proud to officially open our Chicago office to support the innovation and delivery of these new technologies.”
“According to the World Health Organization, by 2030 more than 6 out of 10 people worldwide will live in cities – and by 2050 that proportion will reach more than 7 out of 10. As cities around the world face unprecedented urbanization and budgetary pressures, the need to deliver advanced services to their community increases,” Lang continued. “By establishing an open, IP-based wireless canopy to connect civic assets such as energy infrastructure, street lights, traffic control systems, electric vehicle chargers, parking meters, environmental sensors and more, cities are empowered to lower their environmental footprint, deliver innovative new services to citizens, attract more business investment, cultivate 21st Century talent, and be more economically competitive on a global stage.”
“Silver Spring Networks has established itself a leader at the intersection of energy and smart technology industries, and we’re proud to partner with them on this exciting journey,” said Pramaggiore. “As they help us modernize Chicago’s electric system infrastructure, they are building a platform for emerging technologies that will further enhance the quality of life in our region and help retain and attract more businesses to Illinois.”
“By investing in modern, high-tech energy infrastructure, we are ensuring that Chicago is equipped to address 21st century challenges while making the city a more sustainable place to live and work,” said Mayor Rahm Emanuel. “Silver Spring Networks and ComEd are essential partners in accelerating economic growth by adding crucial jobs, opening state-of-the-art facilities, and helping Chicagoans save money.”
Unlocking Value for Citizens With Smart City Networks
Silver Spring’s Smart City solution helps cities tackle some of the most pressing challenges they confront today:
- Environmental Sustainability: Silver Spring’s Smart City solution enables cities to dramatically improve energy efficiency and reduce consumption via smart lighting and smart energy solutions, electric vehicle charging networks, connected-CO2 sensors, programs to help citizens make smarter energy choices, and other sustainability solutions.
- Health and Safety: Silver Spring’s Smart City solution enables smart lighting networks to coordinate with traffic control systems in emergency situations for remote on/off, dimming, on-demand brightening, blinking, and notification capabilities. Additional applications could include electrical voltage, natural gas, and water leak monitoring systems.
- Traffic and Transportation Management: Congestion relief and revenue collection is a significant opportunity for cities. Silver Spring’s Smart City solution is designed to help cities achieve this goal as they network smart parking meters, traffic control systems, mass-transit networks, and smart transit shelters at public transportation depots.
- Economic Growth: The compelling economics of Silver Spring’s Smart City solution permits cities to invest proven operational and cost savings into additional Smart City applications for their citizens. Silver Spring’s open, standards-based solution, coupled with the insight-rich data delivered across the network, helps create a platform for entrepreneurs and software developers to bring additional innovations and value to the community.
Silver Spring’s Smart City solution has been selected for projects in global cities such as Copenhagen, Dongguan, Dublin, Foshan, Miami, Oslo and Paris. For more information on Silver Spring’s Smart City solution please visit www.silverspringnet.com/smartcities
Silver Spring also announced that it will host an Open House and Job Fair at the new Silver Spring Chicago office at Willis Tower on Thursday, June 26 from 5:30pm – 8:30pm CDT.
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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 more than 18.5 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, Progress Energy and Singapore Power, 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 Networks’ new Chicago office, the benefits cities may achieve from Silver Spring Networks’ Smart City solutions, and Silver Spring Networks’ engagement with ComEd. 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.