StockNews.AI
OESX
StockNews.AI
181 days

Orion Commences $3M in Turnkey, Energy-Efficient LED Lighting Retrofits and Electrical Infrastructure Upgrades for Federal Agency

1. OESX secured a $3 million LED lighting installation contract with a federal agency. 2. Project aims for significant energy efficiency improvements and infrastructure upgrades. 3. Building on a 20+ year relationship with government entities boosts credibility. 4. Contract follows previous successful projects, including a $9.6 million retrofit in Europe. 5. Completion expected in the first half of FY'26, indicating future revenue growth.

6m saved
Insight
Article

FAQ

Why Bullish?

Securing government contracts historically boosts stock prices for similar companies. For instance, positive news on contracts typically precedes stock price increases.

How important is it?

The article discusses a significant contract, impacting OESX's revenue growth potential. Given the government’s reliability as a customer, it suggests future stability.

Why Long Term?

The ongoing relationship and projects indicate sustained revenue over time. Past projects indicate enhanced future revenues based on government contracts completion.

Related Companies

OESXDOD
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 StatementCertain 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 @OrionLightingIRStockTwits: @Orion_LED_IR Investor Relations Contacts   Per Brodin, CFO    William Jones; David CollinsOrion Energy Systems, Inc  Catalyst IRpbrodin@oesx.com  (212) 924-9800 or OESX@catalyst-ir.com

Related News