Orion Selected by Large Specialty Retailer to Provide Turnkey LED Lighting Retrofit Solutions for its Nationwide Chain of Stores
Orion Energy Systems (NASDAQ: OESX) has secured a contract for a turnkey LED lighting retrofit project with a large specialty retailer, covering approximately 390 locations nationwide. This project is expected to generate around $8 million in revenue during the third and fourth quarters of fiscal 2021. Orion plans to retrofit the remaining stores late in fiscal 2021 into early 2022. CEO Mike Altschaefl emphasized the project’s potential due to Orion's quality and efficiency in installations, which aim to minimize disruption to the retailer's operations.
- Contract secured for LED lighting retrofit at 390 locations, expected to generate $8 million in revenue.
- Project highlights Orion's capability to deliver large-scale turnkey solutions for national retail customers.
- None.
MANITOWOC, Wis., Sept. 01, 2020 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of LED lighting systems and turnkey project implementation, including installation and commissioning of fixtures, controls and IoT capabilities, ongoing system maintenance and program management, today provided additional detail regarding a turnkey LED lighting retrofit project for a new customer, a large specialty retailer. Orion referenced this expected opportunity in its Q1’21 quarterly release.
Orion has secured a contract for the turnkey LED lighting retrofit of the specialty retailer’s locations nationwide. The initial phase of the project will be approximately 390 locations and is expected to generate product and services revenue of approximately
Mike Altschaefl, Orion’s Board Chair and CEO, commented, “We are pleased to extend the reach of our turnkey LED lighting retrofit solutions to this new, large national retail customer. We believe they chose Orion for this nationwide project because of the quality, value and long-term ROI provided by our turnkey, design-build-install LED lighting and controls solutions. Further, with our efficient fixture designs, installations can be completed quickly and easily with virtually no disruption to their business. Our teams are focused on delivering best-in-class customer service and the highest in quality and energy efficiency, as reliability and long-term ROI are the hallmarks of customer satisfaction, referrals and repeat business. This new retail customer is additional confirmation of confidence in Orion delivering a large-scale turnkey solution for a national roll-out.”
About Orion Energy Systems
Orion is a provider of LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT solutions, ongoing system maintenance and program management, helping customers to digitize their business and reduce their carbon footprint.
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Twitter: @OrionLighting and @OrionLightingIR
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| Investor Relations Contacts: | |
| Bill Hull, CFO | William Jones; David Collins |
| Orion Energy Systems, Inc. | Catalyst IR |
| bhull@oesx.com | (212) 924-9800 |
| oesx@catalyst-ir.com |
FAQ
What is the new contract announced by Orion Energy Systems?
How much revenue is Orion expected to generate from this new project?
When will the lighting retrofit project for the specialty retailer be completed?
What benefits does Orion claim from its LED lighting solutions?
