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Silver Spring Networks Announces Smart Grid Deployment with AEP OhioSilver Spring Networks, Inc. (NYSE: SSNI) today announced its selection for an innovative networking deployment for the second phase of AEP Ohio's smart grid program. The Advanced Metering Infrastructure (AMI) deployment has received regulatory approval from the Public Utilities Commission of Ohio (PUCO) and will enable improved energy efficiency, increased grid reliability and provide better access to information about electric usage for nearly 900,000 AEP customers across Ohio. Pre-deployment activities are underway, with the rollout expected to begin in mid-2017. "We're honored to partner with AEP Ohio on its innovative smart grid initiative," said Mike Bell (News - Alert), President and CEO, Silver Spring Networks. "AEP Ohio is a recognized industry leader in its modernization of the Midwest's energy grid and is making critical investments to propel Ohio's continued economic growth and energy efficient future." Silver Spring's platform ensures seamless and system wide connectivity and interoperability, establishing a foundation for multiple Internet of Important Things™ applications that can be deployed atop a common IPv6 network. Utilities that implement Silver Spring's platform can benefit from improved operational efficiency, greater grid reliability, increased energy efficiency, and the ability to empower customers to better manage their energy consumption. This networking platform can be rapidly scaled across a diverse service territory, allowing operators to quickly and economically expand their IoT services and add new solutions on the same, standards-based platform. For more information, please visit www.ssni.com/solutions/smart-utilities/ Join the Silver Spring Networks Conversation
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 25.5 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. Forward-Looking Statements This press release contains forward-looking statements about Silver Spring Networks' expectations, plans, intentions, and strategies, including, but not limited to statements regarding the scope, benefits, and timing of Silver Spring's engagement with AEP Ohio. 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 the successful implementation and deployment of the engagement, as well as 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. View source version on businesswire.com: http://www.businesswire.com/news/home/20170221006002/en/ |
