MANITOWOC, Wis., June 18, 2020 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), which enables business to digitize and reduce carbon footprint by providing innovative LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, ongoing system maintenance and program management, today announced the receipt of an approximate $3.1 million award related to the LED lighting retrofit of a U.S. government facility.
Orion will install LED lighting systems in a large government facility in Nevada. The lighting retrofit project is expected to commence in Orion’s fiscal 2021 second quarter and be completed during Orion’s fiscal 2022. Orion will replace legacy T5, T8, compact fluorescent and high-intensity discharge (HID) lighting systems with its energy-efficient LED lighting platforms and controls. The retrofit project, which supports the government’s environmental, energy efficiency and cost savings goals, follows several projects completed for this government entity over recent years.
Orion CEO, Mike Altschaefl, commented, "We are proud to support the U.S. government’s commitment to delivering improved illumination at its facilities, while also achieving environmental and energy efficiency goals with fixtures that are made in the USA. Our next-generation, LED lighting fixtures are expected to reduce annual lighting-driven energy expenses by over 50% at the Nevada facility.
About Orion Energy Systems
Orion enables business to digitize and reduce carbon footprint by providing innovative LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, ongoing system maintenance and program management. 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.
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 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.
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| Investor Relations Contacts: | |
| Bill Hull, CFO Orion Energy Systems, Inc. (312) 660-3575 | William Jones; David Collins Catalyst IR (212) 924-9800 oesx@catalyst-ir.com |