LSI Expands into Turnkey Solar Projects

Rhea-AI Summary

LSI Industries (NASDAQ: LYTS) announced the launch of turnkey solar installations for petroleum fueling stations, starting with a project in Austin, Texas. This initiative features LG solar panels expected to generate over 170,000 kWh of energy annually, cutting energy consumption by 18%. The project reflects LSI's commitment to green innovation and energy efficiency. CEO James A. Clark emphasized the importance of reducing carbon footprints and operating costs for customers, showcasing LSI's focus on eco-friendly solutions in the clean energy market.

Positive

• Expansion into solar technology positions LSI as a leader in energy-efficient solutions.
• First project at Speedy Stop is expected to generate over 170,000 kWh of energy annually.
• Expected energy consumption reduction by 18% enhances operating efficiency for clients.
• Demonstrates commitment to green innovation and sustainability.

Negative

• None.

CINCINNATI, Dec. 16, 2021 (GLOBE NEWSWIRE) -- LSI Industries (NASDAQ: LYTS) announced today that it is expanding its offering of energy-efficient, eco-friendly technologies to include turnkey solar installations for petroleum fueling stations. The first project, at an Austin, Texas Speedy Stop, demonstrates LSI’s project capabilities that span from concept to installation. The Speedy Stop site features LG solar panels mounted on the fuel canopy and car wash that will generate more than 170,000 kWh of solar energy annually and reduce the site's energy consumption by 18%. The project is expected to be completed in the first quarter of 2022.

"In line with a host of energy-efficient solutions, we continue to expand into technologies that help our customers reduce their carbon footprint and operating expenses. This turnkey solar installation supports the continued development of LSI's Service Business model," said James A. Clark, President and CEO of LSI Industries. "Our vertical value proposition continues to resonate with new and existing customers who recognize the benefit of working with a proven U.S.-based manufacturer that focuses on their business. This project with Thomas Fuels’ Speedy Stop demonstrates our commitment to the clean energy market and is an example of LSI's dedication to green innovation."

The clean energy produced at the site allows Speedy Stop to minimize waste and reduce carbon emissions. As a longstanding leader in providing innovative lighting and graphics solutions to the retail petroleum market, LSI is proud to encourage the adoption of solar energy throughout the country and help its customers reap the benefits of low-cost energy.

Thomas Fuels is a premier fuel, lubricant, and chemical distributor in the southern United States. They offer Exxon, Mobil, Shell, Chevron, Texaco, and Citgo branded fuels. For the last 10 years, they have been one of the nation's top five marketers for Chevron Lubricants and top five distributors for Exxon Gasoline.

To read LSI's 2021 Sustainability Report, click here.

About LSI Industries, Inc.
Headquartered in Greater Cincinnati, Ohio, LSI is a publicly held company traded on the NASDAQ Stock Exchange under LYTS. The company manufactures commercial lighting solutions, advanced graphic and image solutions, digital and retail display solutions. Our commercial lighting group consists of high-performance, American-made lighting products and control systems. Retail display solutions include advanced graphics and image solutions, digital signage, and technically advanced food display equipment for strategic vertical markets. LSI's team of internal specialists also provides comprehensive project management services in support of large-scale product rollouts. The company employs about 1,400 people at 11 manufacturing plants in the U.S. and Canada. Additional information about LSI is available at www.lsicorp.com.

Investor Contact
Noel Ryan, IRC
720.778.2415
LYTS@vallumadvisors.com

Media Contact
Cliff Spurlock
Marketing & Communications Manager
513.372.3143
cliff.spurlock@lsicorp.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a1f05722-62d4-4472-b89c-3bad3e578e1e

FAQ

What is LSI Industries' new solar project about?

LSI Industries is expanding into turnkey solar installations for fueling stations, starting with a project in Austin, Texas.

How much energy will the solar installation at Speedy Stop generate?

The solar installation at Speedy Stop is expected to generate over 170,000 kWh of solar energy annually.

What is the expected energy consumption reduction from the solar project?

The project is expected to reduce the site's energy consumption by 18%.

When is the solar project at Speedy Stop expected to be completed?

The project is expected to be completed in the first quarter of 2022.

What are the implications of LSI's solar project for its customers?

The project helps customers reduce their carbon footprint and operating expenses.