Silver Spring Networks, a smart-grid technology provider, announced earlier this month that it filed an S-1 registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering (IPO) of its common stock. The company indicated that it is hoping to raise up to $150 million in the offering (a figure that could change prior to the actual offering).
Silver Spring Networks was founded in 2002 and provides energy efficiency products, smart grid networking and advanced metering infrastructure solutions to customers throughout the United States. The following video contains additional background on the company's solutions:
According to the S-1, the company has received $271 million in preferred stock financings and stockholders with an ownership stake greater 5% are Foundation Capital, Kleiner Perkins Caufield & Byers, WR Holdings NCD Investors LLC, Contra Costa Capital, LLC, and JVB Properties, L.L.L.P.
For more information
- Silver Spring Networks - Home page
- Silver Spring Network's SEC Filings (U.S. Securities Exchange Commission)
- This post was written by Rob Stewart, a graduate student pursuing an M.A. in Urban Sustainability at the Antioch University of Los Angeles, and Leonard Adler, Founder and Publisher of Green VC.