Company Seeing a Growing Pipeline of Hospitals Due to Energy Savings
and Ease of Installation Process
MANITOWOC, Wis.--(BUSINESS WIRE)--
Orion Energy Systems, Inc. (NYSE MKT: OESX), April 30, 2015 - a
leading designer and manufacturer of high-performance, energy-efficient
lighting platforms, today announced that it recently received a contract
award of approximately $700,000 from a Veterans Affairs (VA) hospital in
Virginia. Orion is upgrading the location's fluorescent fixtures with
its patented LED Troffer Retrofit (LDR) product, in addition to
installing the Company's flagship exterior product, the ISON LED area
light.
The Company has won awards to retrofit similar VA hospitals over the
past 12 months, as many are ideal candidates to take full advantage of
energy savings created by the LDR due to 24/7 operation at these
facilities. In addition, the LDR's versatile design provides for a clean
and quick installation process, which lessens potential infection
concerns. The Company has seen this pipeline continue to grow in recent
months as its sales teams have begun to explain the value proposition
and past-performance of previous installations in government projects.
The Veterans Health Administration is home to the United States' largest
integrated health care system consisting of 150 medical centers, nearly
1,400 community-based outpatient clinics, community living centers, Vet
Centers and Domiciliaries.
The location's Energy Manager, Mr. Mark Hudson, stated, "We are very
pleased to work with Orion throughout this project, which was a capital
improvement funded entirely by private sector financing. This means that
our facility can receive all of the energy savings and superior lighting
quality without the requirement of any additional government funding
that would limit the hospital's ability to serve its patients. We have
been delighted with the lighting quality, which represents a substantial
improvement over the fluorescent tubes that we had previously installed."
Orion LDR fixtures have been shipped to more than a thousand locations
throughout North America since its January 2014 launch. Due to its easy
installation, attractive design and reliable performance, the LDR is an
ideal upgrade product for public sector entities seeking to replace
energy-consuming fluorescent troffer fixtures with high efficiency LED
light sources.
John Scribante, Chief Executive Officer of Orion, stated, "We are
pleased to have received another large order for this VA hospital. We
believe that we will see this order flow accelerate due to our
strengthened partnerships between our sales managers and the necessary
government contacts at these locations across the country. Our pipeline
among this growing network is increasing, both in terms of numbers of
deals and also size of orders. Our average deal size is growing in the
double digits, and with the support of our production capacity strategy
and strengthened balance sheet, this is a favorable trend."
About Orion Energy Systems
Orion 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 and high intensity fluorescent
lighting. Many of Orion's 100+ granted patents and pending patent
applications relate to lighting systems that provide exceptional optical
and thermal performance, which drive financial, environmental, and
work-space benefits for a wide variety of customers in the retrofit
markets.
Investor Relations Contacts:
Scott
Jensen
Chief Financial Officer
Orion Energy Systems, Inc.
(920)
892-9340
or
Adam Prior
Senior Vice President
The
Equity Group Inc.
(212) 836-9606
aprior@equityny.com
Source: Orion Energy Systems, Inc.
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