Orion Energy Systems has begun a $3 million LED installation project for a federal agency, enhancing energy efficiency and infrastructure.
Quiver AI Summary
Orion Energy Systems, Inc. announced that it has begun an on-site installation of LED lighting for a federal agency, with purchase orders totaling about $3 million to date. The project is expected to be completed in the first half of Orion's fiscal year 2026 and includes the installation of BAA-compliant LED retrofit systems and upgrades to the facility's electrical infrastructure in the Southeastern U.S. This initiative aims to enhance energy efficiency and support modernization efforts. CEO Mike Jenkins highlighted the company's long-standing relationship with the federal entity and their commitment to providing energy-efficient solutions. The project follows Orion's ongoing work with government clients, including a significant lighting retrofit project for the Department of Defense in Europe.
Potential Positives
- Orion Energy Systems has secured approximately $3 million in purchase orders for a federal government agency project, highlighting its strong relationships and growth potential in the government sector.
- The project involves the installation of Buy American Act-compliant LED lighting systems, showcasing Orion’s commitment to adhering to federal regulations and supporting domestic manufacturing.
- Completion of the project is expected in the first half of Orion’s FY’26, indicating future revenue recognition and potential for continued engagement with government contracts.
- This initiative builds on a successful history of working with government entities, including a significant $9.6 million LED retrofit project for the Department of Defense, suggesting a reliable track record in the public sector.
Potential Negatives
- The press release heavily emphasizes forward-looking statements, which are inherently speculative and come with multiple risks and uncertainties that could significantly impact the actual outcomes of the project.
- The lack of detailed financial projections or milestones related to this project may signal uncertainty about the project's profitability or viability.
- The company's reliance on government contracts may expose it to risks related to changes in government spending policies or shifts in federal priorities.
FAQ
What is the recent project announced by Orion Energy Systems?
Orion has started on-site LED lighting installation for a federal government agency, totaling approximately $3 million in purchase orders to date.
When is the Orion project expected to be completed?
The project is anticipated to be completed in the first half of Orion’s FY’26.
What solutions is Orion providing in this project?
Orion is providing a turnkey solution, including BAA-compliant LED lighting retrofit systems and significant upgrades to the facility’s electrical infrastructure.
What has been Orion's history with government contracts?
Orion has a 20+ year relationship with this federal entity and has previously worked on projects like a $9.6 million retrofit for the Department of Defense.
How does Orion contribute to sustainability?
Orion focuses on energy-efficient solutions that reduce carbon footprints and enhance business performance through clean tech innovations like LED lighting and EV charging stations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
MANITOWOC, Wis., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (Nasdaq: OESX) ( Orion Lighting ), a provider of energy-efficient LED lighting and controls, electric vehicle (EV) charging station solutions, and maintenance services announced today that it has commenced on-site LED lighting installation for a federal government agency. Project purchase orders to date total approximately $3 million, with future potential for an expanded project scope. The project is expected to be completed in the first half of Orion’s FY’26.
Orion is providing a turnkey solution for a facility in the Southeastern United States, including the installation of Buy American Act (BAA)-compliant LED lighting retrofit systems, significant upgrades to the facility’s electrical infrastructure, and project management services. This project will greatly enhance the facility’s energy efficiency and achieve their modernization initiatives.
“We are proud to build upon our longstanding 20+ year relationship working with this Federal entity to improve the energy efficiency of their facilities,” stated Mike Jenkins, CEO of Orion. “This project builds on our long-standing work in the government sector, providing energy-efficient solutions that enhance workplace environments and safety. Our team is excited to contribute to the facility’s extensive remodel by delivering top-tier, BAA-compliant LED lighting systems and critical infrastructure upgrades.”
This contract follows Orion’s continued service to government entities, including a $9.6 million LED lighting retrofit project in Europe for the Department of Defense.
About Orion Energy Systems
(
www.orionlighting.com
)
Orion provides energy efficiency and clean tech solutions including LED lighting and controls, maintenance services and electrical vehicle (EV) charging solutions. Orion specializes in turnkey design-through-installation solutions for large national customers, with a commitment to helping customers achieve their business and environmental goals with healthy, safe and sustainable solutions that reduce their carbon footprint and enhance business performance.
Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our sustainability priorities, goals and progress here or visit our website.
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.
Twitter
:
@OrionLighting
and
@OrionLightingIR
StockTwits:
@Orion_LED_IR
I nvestor Relations Contacts | |||
Per Brodin, CFO | William Jones; David Collins | ||
Orion Energy Systems, Inc | Catalyst IR | ||
[email protected] | (212) 924-9800 or [email protected] |