Contact:
Steve Heins, Orion Energy Services, 920-892-5800
May 4, 2005. Plymouth, WI. Orion Energy Systems, a national leader in energy efficient lighting and demand response systems with scientifically proven measurement and verification capabilities, announced today that it has joined the Chicago Climate Exchange (CCX), North America’s first voluntary, legally binding market for reducing and trading greenhouse gas emissions.
Orion has been at the forefront of energy efficiency since its breakthrough lighting system, the Illuminator series, was introduced in the fall of 2000. Using real time metering for measurement and verification of energy consumption as a part of its sales process methodology, Orion is uniquely positioned to advise its customers on accurately document its emission reduction.
The Chicago Climate Exchange is the first system in the North America to set a legally binding reduction commitment and apply the cap-and-trade principle to the climate change problem through the trading of emissions allowances. CCX Members commit to reduce greenhouse emissions associated with climate change and global warming by four percent by 2006 from a 1998-2001 baseline. Members who reduce beyond the goal may sell emission allowances on the Exchange. Members who do not meet the reduction goal must buy allowances on the Exchange to come into compliance. Emission reductions achieved through the Chicago Climate Exchange are the first reductions achieved through a legally binding mechanism in the U.S.
“With so much at stake in terms of the economy, the environment and energy, Orion Energy Systems is proud to be a member of the Chicago Climate Exchange,” stated Orion’s CEO Neal Verfuerth. “We firmly believe that emission reductions can be achieved cost-effectively by applying the best of the emerging energy efficient technology to the problem, what we call ‘practical environmentalism. Once done correctly, U.S. companies can achieve a strong return-on-investment for energy efficiency and the ability to sell emission allowances is a bonus.”
Last fiscal year, Orion’s energy efficient products saved its cusomers $33.2 million and 600 million kWh.
“We commend Orion Energy Systems for their energy efficient innovations and leadership,” said Dr. Richard Sandor, CCX’s Chairman and CEO. “Like Orion, companies who are developing new energy efficient technologies should be mindful of the potentilal for them to help their customers mitigate their emissions and reduce their carbon footprint. Making a commitment to helping other companies to reduce their emissions makes excellent business sense and prepares other companies for a future where carbon management will be essential for new industries, profits and public confidence.”
About CCX
CCX is a self-regulatory exchange that administers the world’s first multi-national, multi-sector marketplace for reducing and trading greenhouse gas (GHG) emissions. CCX represents the first legally binding commitment by a cross-section of North American corporations, municipalities and other institutions to establish a rules-based market for reducing greenhouse gases. CCX enables members to receive credit for reductions, and to buy and sell credits to determine the most cost-effective means of achieving emission reductions.
For more information, please contact Rafael Marques, Chicago Climate Exchance; 312-554-3350 or visit us the website at www.chicagoclimateexchange.com.
About Orion Energy Services
Orion Energy Services has been innovating in the energy and lighting business since 1996. A designer and manufacturer of energy efficient lighting solutions for the school, gymnasium, manufacturing, warehousing and commercial markets, Orion provides capacity displacement solutions for supply side management, transmission management and demand side management for the electricity industry.
Orion Energy Services helped its business customers save over $33.2 million over the last year. Its CEO and founder, Neal Verfuerth was named Wisconsin Entrepreneur of the Year in 2004 in the prestigious Ernst & Young program. Verfuerth also received the 2005 ‘Manufacturer of the Year Grand Award for Excellence,’ from Wisconsin Manufacturers and Commerce and has been named a 2005 Bravo! Entrepreneur Award winner by Small Business Times.
The company was chosen as a “Success Story” for the 2002 Governor’s Summit on Capital and recently received the Wisconsin Business Friend of the Environment Award.
For more information, please contact Stephen Heins, Vice President of Corporate Communications, Orion Energy Systems; sheins@oriones.com ; 920-892-9340, or visit the web site at www.oriones.com.
