Orion Secures Initial $3.1M Award for U.S. Government Retrofit Project
June 18 2020 - 7:33AM
Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), which
enables business to digitize and reduce carbon footprint by
providing innovative LED lighting systems and turnkey project
implementation including installation and commissioning of
fixtures, controls and IoT systems, ongoing system maintenance and
program management, today announced the receipt of an approximate
$3.1 million award related to the LED lighting retrofit of a U.S.
government facility.
Orion will install LED lighting systems in a large government
facility in Nevada. The lighting retrofit project is expected to
commence in Orion’s fiscal 2021 second quarter and be completed
during Orion’s fiscal 2022. Orion will replace legacy T5, T8,
compact fluorescent and high-intensity discharge (HID) lighting
systems with its energy-efficient LED lighting platforms and
controls. The retrofit project, which supports the government’s
environmental, energy efficiency and cost savings goals, follows
several projects completed for this government entity over recent
years.
Orion CEO, Mike Altschaefl, commented, "We are proud to
support the U.S. government’s commitment to delivering improved
illumination at its facilities, while also achieving environmental
and energy efficiency goals with fixtures that are made in the USA.
Our next-generation, LED lighting fixtures are expected to reduce
annual lighting-driven energy expenses by over 50% at the Nevada
facility.
About Orion Energy Systems
Orion enables business to digitize and reduce carbon footprint
by providing innovative LED lighting systems and turnkey project
implementation including installation and commissioning of
fixtures, controls and IoT systems, ongoing system maintenance and
program management. Orion systems utilize patented design elements
to deliver industry-leading energy efficiency, enhanced optical and
thermal performance and ease of installation, providing long-term
financial, environmental, and work-space benefits to a diverse
customer base, 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, CFO Orion Energy
Systems, Inc. (312) 660-3575 |
William Jones; David
CollinsCatalyst IR(212) 924-9800oesx@catalyst-ir.com |
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