MANITOWOC, Wis., Jan. 11, 2019 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of enterprise-grade LED lighting and energy project solutions, today announced the receipt of $3.6 million of award notifications to install Orion's LED lighting systems in two U.S. government facilities. The projects are expected to commence in fiscal year 2019.
Orion is replacing legacy T5, T8, compact fluorescent and HID lighting systems with its energy-efficient LED lighting platforms and controls, in support of the customers' environmental, energy efficiency and cost savings goals. The awards follow several projects completed for the same government entities over the recent past.
Orion CEO, Mike Altschaefl, commented, "We are honored to expand our support of our Government's energy efficiency and facility lighting goals with our LED lighting solutions. We believe these follow-on projects underscore the performance, return on investment and customer responsiveness that is unique to the Orion Lighting organization. Utilizing our solutions, these customers expect to reduce annual energy usage for lighting by approximately 50% per facility while also delivering much improved illumination. These savings should allow the full recoupment of all project costs in just a few years, followed by two decades of continued savings and high performance.
"As a U.S.-based manufacturer, we have built strong working relationships with several government customers and are in ongoing dialogues regarding how we can address their current and future needs with our attentive service and high-quality, made-in-the-U.S.A. products.”
About Orion Energy Systems
Orion is a provider of enterprise-grade LED lighting and energy project solutions. Orion manufactures and markets connected lighting systems encompassing LED solid-state lighting and smart controls. Orion systems incorporate patented design elements that deliver significant energy, efficiency, optical and thermal performance that drive financial, environmental, and work-space benefits for a wide variety of customers, including nearly 40% of the Fortune 500.
Safe Harbor Statement
Certain matters discussed in this press release, are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including business relationships with government customers, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission.
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 athttp://www.sec.gov or athttp://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.
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