MANITOWOC, Wis.--(BUSINESS WIRE)--
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."
About Orion Energy Systems
Orion (NYSE: OESX) is leading the transformation of commercial and
industrial buildings with state-of-the-art energy efficient lighting
systems. Orion manufactures and markets a cutting edge portfolio of
products encompassing LED Solid-State Lighting, high intensity
fluorescent, and smart controls. Orion's 70+ patents held or pending
provide unparalleled optical and thermal performance, which drive
financial, environmental, and work-space benefits for a wide variety of
retrofit markets.
Investor Relations Contacts:
Orion
Energy Systems
Scott Jensen
Chief Financial Officer
(920)
892-9340
or
The Equity Group Inc.
Adam Prior
Senior
Vice President
(212) 836-9606
aprior@equityny.com
or
The
Equity Group Inc.
Forrest Hunt
Associate
(212) 836-9610
fhunt@equityny.com
Source: Orion Energy Systems, Inc.
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