Orion Secures $4.8 Million in Initial Contracts for Custom LED Lighting Fixtures and Integrated Controls to Retrofit Two Facilities for Global Online Retailer

February 3, 2020 at 8:15 AM EST

MANITOWOC, Wis., Feb. 03, 2020 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of LED lighting and turnkey energy project solutions, including controls and integrated IoT capabilities, announced today that it has been selected to provide $4.8 million in custom-designed LED luminaires and lighting controls to upgrade two facilities for a global online retailer. Teaming with a long-term electrical contractor partner, Orion will provide custom LED lighting fixtures, as well as integrated lighting controls, initially for two facilities. Product deliveries are expected to start late in Orion’s fiscal 2020 fourth quarter ending March 31, 2020, with completion expected in its fiscal 2021 second quarter ending September 30, 2020.

Orion has initiated project design with this electrical contractor partner for an additional five facilities and anticipates more purchase orders to be forthcoming. Including these prospective locations for this customer, we anticipate a total a revenue potential of approximately $8-9 million.

Orion CEO Mike Altschaefl, commented, “Orion was brought into this large LED lighting retrofit opportunity by an excellent electrical contracting firm with whom we’ve had a long-standing and productive relationship. We were selected based on the strength of our custom product design capabilities and integrated controls, coupled with our industry leading product quality, energy efficiency and customer service.

“The customer is expected to reduce their annual lighting energy consumption and lighting maintenance costs in these two facilities while also delivering substantially enhanced illumination and controls capabilities. Our organization is focused on delivering the highest level of quality and service on these projects in order to position Orion for the balance of the customer’s retrofit needs.”

About Orion Energy Systems
Orion is a provider of LED lighting and turnkey energy project solutions designed to reduce energy consumption and enhance business performance and efficiency. Orion designs, manufactures, markets and manages the installation and maintenance of LED solid-state lighting systems, along with integrated smart controls. 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.

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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 @OrionLightingIR
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Investor Relations Contacts:  
Bill Hull, CFO William Jones; David Collins
Orion Energy Systems, Inc. Catalyst IR
(312) 660-3575 (212) 924-9800
  oesx@catalyst-ir.com

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Source: Orion Energy Systems, Inc.