Silver Spring Networks Extends Collaboration With Singapore Power To Deploy IoT Platform For Additional Smart Utility And Smart Nation Applications
Silver Spring Networks, Inc. (NYSE: SSNI) today announced its agreement with Singapore Power to expand Singapore Power's uses and applications of its existing wireless mesh network platform across Singapore.
Silver Spring Networks, Inc. (NYSE: SSNI) today announced its agreement with Singapore Power to expand Singapore Power's uses and applications of its existing wireless mesh network platform across Singapore. Singapore Power, which provides electricity to 1.4 million homes and businesses on the island, plans to leverage its AMI deployment to connect an additional 200,000 electric residential customers. Silver Spring's multi-application IPv6 platform will be extended to help Singapore Power improve its operational efficiencies, serve more advanced metering customers and for Singapore Power to develop a digital data and Internet of Things (IoT) platform. The joint efforts will support Singapore's ' Smart Nation' goal by leveraging the IoT to improve efficiency, security, economic development and quality of life for its citizens. Silver Spring has also announced that it will collaborate with Singapore Power on a variety of product and market development activities, with the intent to unlock the creativity of IoT innovation of Singapore's commercial and academic institutions. In support of its collaboration with Singapore Power—and to help capitalize on IoT opportunities in the region—Silver Spring intends to establish its Asia Pacific headquarters in Singapore. "We deeply value our long-standing relationship with Singapore Power and are delighted to continue building on our relationship for years to come, with the goal to jointly deploy technology that addresses the country's evolving needs," said Mike Bell, President and CEO, Silver Spring Networks. "Singapore Power is known as an industry leader globally, and their broad vision to leverage the value creation of IoT is transforming the definition of a modern utility. Our continued efforts can help move the country's Smart Nation vision to reality through proven and secure nationwide coverage that has no limits on scalability." Since April 2014, Silver Spring has helped Singapore Power deliver deregulated energy services for the Energy Market Authority's retail contestability program in Singapore. Silver Spring has successfully deployed its IPv6 platform throughout the country to enable customers to choose from a variety of retail energy providers and purchase electricity at wholesale market prices.