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Silver Spring Networks Selected for AEP's gridSMART Projects
Roll out of multiple Smart Grid solutions will improve efficiency and empower consumers to monitor and control their energy use
October 20, 2009, Redwood City, CA - Silver Spring Networks, a leading provider of Smart Grid solutions, has been selected by American Electric Power (NYSE: AEP) for the utility's Smart Grid programs at its operating companies, Indiana Michigan Power and AEP Ohio. Silver Spring Networks is providing its field proven, IP-based technology, which creates an end-to-end, secure and intelligent platform for the Smart Grid.
Part of AEP's overall gridSMARTSM initiative, both projects enable multiple Smart Grid applications over a unified network, including distribution automation, home area networking and advanced metering. Through gridSMARTSM, AEP will upgrade its existing energy infrastructure using Smart Grid technologies and consumer programs. This transition will empower consumers, reduce operational costs and enable new technologies, such as smart appliances, home automation, plug-in hybrid electric vehicles and the integration of renewable energy assets like wind and solar power onto the grid.
"AEP is one of the most innovative utilities in the country and we are honored to assist them making their gridSMARTSM vision a reality," said Scott Lang, Chairman, President and CEO of Silver Spring Networks. "By implementing an open Smart Grid platform, AEP is ensuring it will be ready to meet its energy efficiency challenges for generations to come."
Indiana Michigan Power initiated its Smart Meter pilot project in South Bend, Indiana in late 2008. The initial success of that project led AEP Ohio to select Silver Spring Networks for the expansion of its AEP Ohio gridSMARTSM Demonstration Project in northeast central Ohio. AEP's goal is to network 5 million homes and businesses throughout its service territory by 2015.
Silver Spring Networks' open, IP standards-based network technology allows AEP to utilize an ecosystem of best-of-breed smart grid technology companies to revolutionize the creation, distribution and consumption of energy. GE Energy, one of the world's leading suppliers of power generation and energy delivery technologies, will provide the smart meters and grid management software. Other companies include S&C Electric and Cooper Power Systems which will provide distribution automation equipment to improve grid reliability and efficiency.
About Silver Spring Networks
Silver Spring Networks is a leading Smart Grid solutions 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. SSN provides the hardware, software and services that allow utilities to deploy and run unlimited advanced applications, including Smart Metering, Demand Response, Distribution Automation and Distributed Generation, over a single, unified network. SSN's Smart Energy Network is based on open, Internet Protocol (IP) standards, allowing continuous, two-way communication between the utility and every device on the grid. SSN has successful deployments with leading utilities in the US and abroad, including Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, Inc., Jemena Electricity Networks Limited and United Energy Distribution, among others. In 2008, the World Economic Forum honored Silver Spring Networks as a Technology Pioneer. For additional information, please visit www.silverspringnetworks.com.
Media Contact:
Silver Spring Networks
Lisa Magnuson
PR@silverspringnet.com
(415) 531-9199
