MANITOWOC, Wis., May 20, 2019 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (OESX) (Orion Lighting), announced today that it has received a commitment to again expand the retrofit of a major national account customer’s lighting systems with Orion’s state-of-the-art LED lighting and wireless IoT enabled control solutions at additional locations nationwide. Orion anticipates additional revenue of $64 million under this next phase, which is dependent on the customer’s issuance of purchase orders. Installations for this expanded phase are slated to commence in Orion's fiscal 2020 second quarter ending September 30, 2019 and be completed during its fiscal year ending March 31, 2020.
This expanded phase builds on both an $11 million letter of intent and a $35 million contract previously announced and brings total anticipated LED lighting installation revenue from the customer to $110 million. The project includes the installation of LED lighting fixtures along with state-of-the-art Internet of Things (IoT) control integration, to deliver enhanced functionality and data gathering capabilities designed to help facility managers enhance operating performance.
Orion’s selection was again based on its proven ability to design, develop and install customized, highly energy-efficient, U.S.-manufactured LED lighting solutions on a turnkey basis. Contract services include initial energy audits, project engineering, custom fixture design, fixture manufacturing, IoT enabled control systems, IoT system commissioning and full project management through installation at customer locations nationwide.
Orion CEO, Mike Altschaefl, commented, “It is gratifying that Orion’s performance with this customer provided it with the confidence to substantially expand our role in their nationwide LED lighting retrofit plans. Teamwork, experience, innovation and Orion’s industry leading commitment to customer service are key factors underlying our ability to successfully execute such large retrofit projects. We look forward to the successful completion of these installations and are optimistic regarding the potential to secure additional projects with this customer.
“Our years of experience at successfully completing similar national projects uniquely qualifies Orion as a leader in large scale energy efficient lighting and smart building retrofits. We continue moving forward to build and expand on the success of our national account base for their lighting retrofit and smart building technology integration projects. I thank the entire Orion team for their dedication to this effort.”
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 and controls that deliver significant energy efficiency as well as 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
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