Orion Energy Systems, Inc. (NYSE MKT: OESX) ("Orion" or the "Company"), a
leading designer and manufacturer of energy management systems consisting
primarily of high-performance, energy-efficient lighting platforms, today
announced the Company has been awarded an exclusive agreement to retrofit a
major automotive manufacturer's plant with its LED lighting fixtures. This
$6.2 million project is in addition to previously announced awards from this
manufacturer.
Orion expects to complete delivery and installation within 90-120 days, with
the majority of revenues to be reported in the Company's third quarter ending
December 31, 2014.
Orion Energy Systems will be retrofitting the facility's existing High
Intensity Discharge (HID) technology with LED solid state lighting. By
replacing the 465-watt HID lights with primarily 173-watt LED fixtures, the
customer will be reducing their kilowatt per hour (kWh) consumption by
16,373,725. Over the 20-year life of the replacement fixtures, the project is
expected to reduce kWh by 327,474,500 at the facility and reduce greenhouse
gas emissions by more than 201,161 tons, based on the government's accepted
energy formulas.
Orion believes the energy savings from its lighting products will be a
continuation of its customer's sustainability efforts while also providing a
solution that includes lower maintenance costs and an aggressive return on
investment.
John Scribante, Chief Executive Officer of Orion, stated, “We are pleased to
announce our continuing partnership with this customer to provide facility
upgrades for another of their manufacturing plants. We believe this will
provide a perfect opportunity to showcase Orion's ability as a full service
LED lighting integrator, while providing our customers with increased
productivity and economic efficiencies. We continue to work towards enhancing
our customers' return on investment and minimizing customer payback time. We
look forward to continuing our long-lasting relationship with this customer as
we grow our national account pipeline, and begin to leverage it as the
adoption of LED products continues to accelerate.”
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