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Redwood City, CA – February 9, 2015 – Today, Silver Spring Networks, Inc.
Silver Spring’s platform can enable multiple applications and services such as street lighting, traffic control systems, smart parking, electric vehicle charging, energy metering, environmental and pollution sensors, adaptive outdoor lighting, motion-sensing applications, waste management, and other sensors to leverage a common network, control and data platform.Silver Spring also announced that additional industry leaders including Baltimore Gas & Electric (BG&E), Com Ed, and Pepco Holdings Inc.(PHI) are partnering with Silver Spring on networked street light and smart city technology projects.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.“With this new street light technology we expect to leverage our smart grid investments and ensure greater efficiencies and reliability for our street light and existing smart grid networks.” “Building on the strength and success of its smart grid initiative, FPL is once again demonstrating its leadership in leveraging the most advanced technology to drive efficiency, increased reliability, and enhanced service for its consumers,” said Scott Lang, Chairman, President and CEO, Silver Spring Networks.
“We are proud to extend our relationship with FPL and support its ongoing efforts to deliver even more benefits to its customers.” In addition to its networked street lights deployment in Florida, Silver Spring’s smart street lighting solution has been selected for projects in iconic cities such as Copenhagen and Paris.A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide.FPL delivered better than 99.98 percent service reliability as of year-end 2013.Florida Power & Light (FPL), already working with Silver Spring on North America’s largest networked street light project under contract, expanded its program from 75,000 street lights to nearly 500,000 street lights across its 35 county service territory statewide.FPL will also leverage Silver Spring’s Streetlight.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.