Orion Lighting Secures $3.6M in Awards for LED Lighting Solutions for U.S. Government Facilities; Expected Annual Energy Savi...
January 11 2019 - 8:15AM
Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a
provider of enterprise-grade LED lighting and energy project
solutions, today announced the receipt of $3.6 million of award
notifications to install Orion's LED lighting systems in two U.S.
government facilities. The projects are expected to commence in
fiscal year 2019.
Orion is replacing legacy T5, T8, compact fluorescent and HID
lighting systems with its energy-efficient LED lighting platforms
and controls, in support of the customers' environmental, energy
efficiency and cost savings goals. The awards follow several
projects completed for the same government entities over the recent
past.
Orion CEO, Mike Altschaefl, commented, "We are honored to expand
our support of our Government's energy efficiency and facility
lighting goals with our LED lighting solutions. We believe these
follow-on projects underscore the performance, return on investment
and customer responsiveness that is unique to the Orion Lighting
organization. Utilizing our solutions, these customers expect to
reduce annual energy usage for lighting by approximately 50% per
facility while also delivering much improved illumination. These
savings should allow the full recoupment of all project costs in
just a few years, followed by two decades of continued savings and
high performance.
"As a U.S.-based manufacturer, we have built strong working
relationships with several government customers and are in ongoing
dialogues regarding how we can address their current and future
needs with our attentive service and high-quality,
made-in-the-U.S.A. products.”
About Orion Energy SystemsOrion is a provider
of enterprise-grade LED lighting and energy project solutions.
Orion manufactures and markets connected lighting systems
encompassing LED solid-state lighting and smart controls. Orion
systems incorporate patented design elements that deliver
significant energy, efficiency, optical and thermal performance
that drive financial, environmental, and work-space benefits for a
wide variety of customers, including nearly 40% of the Fortune
500.
Safe Harbor StatementCertain matters discussed
in this press release, are "forward-looking statements" intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements may generally be identified as such
because the context of such statements will include words such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "should," "will,"
"would" or words of similar import. Similarly, statements that
describe our future plans, objectives or goals, including business
relationships with government customers, are also forward-looking
statements. Such forward-looking statements are subject to certain
risks and uncertainties that could cause results to differ
materially from those expected including, but not limited to, the
risks described in our filings with the Securities and Exchange
Commission.
Shareholders, potential investors and other readers are urged to
consider risks and uncertainties carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are made only as of the date of this press
release and we undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More detailed information about factors
that may affect our performance may be found in our filings with
the Securities and Exchange Commission, which are available at
http://www.sec.gov or at http://investor.oriones.com/ in the
Investor Relations section of our Website. Except as required by
applicable law, we assume no obligation to update any
forward-looking statements publicly or to update the reasons why
actual results could differ materially from those anticipated in
any forward-looking statements, even if new information becomes
available in the future.
Twitter: @OrionLighting and
@OrionLightingIRStockTwits: @Orion_LED_IR
Investor Relations Contacts |
Bill Hull,
CFOOrion Energy Systems, Inc.(312) 660-3575 |
William
Jones; Tanya KamatuCatalyst IR(212) 924-9800 or
oesx@catalyst-ir.com |
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