Contact: Linda Diedrich, (920) 482-1988
Innovative technology key to Orion’s success and helping improve Wisconsin’s economy
MANITOWOC, Wis. — March 14, 2009 — Orion Energy Systems Inc. (Nasdaq: OESX) was honored Friday with the MIT Club of Wisconsin’s Technology Achievement Award, which is designed to recognize those who make a major contribution to Wisconsin’s economy through technological advancement.
Orion received the award in the large company category at the MIT club’s seventh annual award ceremony, held at the Country Springs Hotel in Waukesha.
Orion is a leading power technology enterprise that designs, manufactures and deploys energy management systems in commercial and industrial facilities. Orion’s technology has been installed in more than 4,300 facilities in North America, including 114 of the Fortune 500 companies, and has resulted in electricity cost savings for its customers of more than $514 million and a reduction of base and peak load electricity demand by nearly 6.7 billion kilowatt-hours.
According to the Environmental Protection Agency, the reduced electricity consumption has prevented more than 4.3 million tons of carbon dioxide from being released into the atmosphere.
“We chose Orion for the large company award to recognize them for innovations that deliver energy savings, for their commitment to community, and significant contributions to the local, state and national economy,” said Lynnanne Huber, executive vice president of the MIT Club of Wisconsin.
Orion’s President and CEO Neal Verfuerth accepted the award on behalf of the company he started in 1996.
“Innovation has always been core to our success and we appreciate the recognition from the MIT Club of Wisconsin,” Verfuerth said. “We’re proud of the amount of energy we’ve reduced from the grid and for the energy and dollar savings we’ve delivered to our customers — dollars that can be used to reinvest in their operations. We look forward to doing more to contribute to our local economy here in Wisconsin and nationally.”
In addition to Orion, the MIT Club recognized Paradigm Sensors of Milwaukee in the club’s small company category and a special award was given to the Fab Lab at the Venture Center at Fox Valley Technical College in Appleton. James Hyde of the Medical College of Wisconsin was recognized in the individual category.
The MIT Club of Wisconsin represents more than 550 alumni of the Massachusetts Institute of Technology in Wisconsin. Its mission is to “enhance the value of the MIT degree, build community, and celebrate our shared experience,” according to the group’s Web site.
Orion Energy Systems Inc. (Nasdaq: OESX) is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy-efficient lighting systems, controls and related services for commercial and industrial customers without compromising their quantity or quality of light. Orion has deployed its energy management systems in 4,387 facilities across North America. Since 2001, Orion technology has displaced more than 422 megawatts, saving customers more than $514 million and reducing indirect carbon dioxide emissions by 4.3 million tons. Orion’s technology was recently recognized with a Platts Global Energy Award for the single most innovative and sustainable green technology of 2008. For more information, visit www.oesx.com.