|By Business Wire||
|September 4, 2014 01:45 PM EDT||
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.
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