|By Business Wire||
|May 19, 2014 08:32 AM EDT||
Silver Spring Networks, Inc. (NYSE: SSNI) today announced a new partnership with Detectent, Inc., as it continues to expand its partner ecosystem around the SilverLink™ Sensor Network, a new approach to unlocking smart grid big data at up to 10x the speed and 1/10th the cost of traditional IT infrastructure. Detectent is a leading provider of analytical models and user interface tools that will leverage SilverLink Sensor Network data to support the planning, deployment and measurement of operational business functions including revenue assurance, non-technical loss, transformer monitoring, and grid operations applications. Detectent’s solutions will be offered through Silver Spring’s SilverLink App Catalogue.
Detectent’s Energy Theft solutions are part of its Customer Intelligence Platform which will be integrated with the SilverLink Sensor Network. Detectent uses a combination of smart meter data along with weather data, business listings, GIS data and other data to identify electricity theft. Once an irregularity is confirmed or dismissed, the self-learning algorithms update the information to improve the accuracy of future analysis. The SiverLink Sensor Network will enable Detectent to access real-time smart grid data streams, helping utilities accelerate the assessment of any action associated with irregular energy consumption and diversion within a service territory. Detectent’s application also integrates with existing utility workflow systems.
“Electricity theft is estimated to cost the utility industry billions of dollars each year. With the SilverLink Sensor Network and Detectent, we can help make it easy for utilities to find and remediate that theft, and recover their operating losses,” said Alex Zheng, Senior Product Manager, SilverLink Sensor Network, Silver Spring Networks. “Detectent is a well-known player in theft detection, and the combination of our sensor network expertise with their algorithms will enable us to help utilities leverage the power of their smart grids to recover value for their customers.”
“Silver Spring’s SilverLink Sensor Network delivers real-time data and a direct interface with the network, without the hurdles of needing to make complex integrations in the utility back-office, where data validation, estimation, and editing can create false indicators for analytics,” said Michael Madrazo, CEO, Detectent. “Having this granular level of detail with Detectent’s Energy Theft Solutions will help provide a clearer view of energy diversion for our utility customers around the globe.”
Detectent also expects to leverage real-time streams via the SilverLink Sensor Network for improved grid operations, such as pinpointing overloaded transformers and topology mapping errors.
For more information on the SilverLink Sensor Network, visit www.silverspringnet.com/silverlink.
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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 over 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.
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’ partnership with Detectent, the performance and capabilities of the integrated solution, and benefits utilities may realize from the integrated solution. 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 of the agreement between Silver Spring Networks and Detectent, 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.
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