LED Lighting & Controls Provider Orion Extends Customer Value Proposition via Strategic Investment in ndustrial, Provider of IoT Industrial Optimization Solutions

Wednesday, 05. May 2021 13:58

RALEIGH, N.C. and MANITOWOC, Wis., May 05, 2021 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, controls and IoT systems, including turnkey project implementation, program management and system maintenance, today announced a $0.5 million strategic investment in ndustrial, a provider of software and services that seamlessly optimize industrial facilities across all stages of discrete and process manufacturing supply chains. Orion secured an equity stake in ndustrial through its participation in the Company’s $6 million Series A financing, co-led by ENGIE New Ventures and Clean Energy Ventures.

From cold storage to biotech, from automotive to retail, ndustrial’s open optimization platform enables companies across industries to digitally transform themselves to gain new levels of business insight and to drive innovation and efficiency for sustained competitive advantage and bottom-line improvements. ndustrial’s software solution enables customers to better access, aggregate, analyze, optimize, and act on data. Its customized solutions are also backed by extensive service and support.

Orion CEO Mike Altschaefl commented, “Orion’s goal is to deliver improved business performance and value to our customers, starting with turnkey energy efficient LED lighting and control systems and services and building on that foundation with complementary technologies, products and services. We were very impressed with ndustrial’s management team and business and believe there is great synergy between our organizations, our solutions and our collective customer base. Our investment in ndustrial builds on this potential, supports their progress and forges a closer strategic relationship and a more robust solutions set to offer to our customers going forward.”

About Orion Energy Systems
Orion provides energy-efficient LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, as well as ongoing system maintenance and program management. We help our customers achieve energy savings with healthy, safe and sustainable solutions, enabling them to reduce their carbon footprint and digitize their business.

About ndustrial
ndustrial delivers software and services that enable industrial companies to gain deeper insights into their business, actively optimize systems and drive efficiency at scale. ndustrial was founded in 2011 and is headquartered in Raleigh, North Carolina. For more information, visit www.ndustrial.io.

Safe Harbor Statement
Certain 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 @OrionLightingIR
StockTwits: @Orion_LED_IR

Investor Relations Contacts

Per Brodin, CFOWilliam Jones; David Collins
Orion Energy Systems, Inc.Catalyst IR
pbrodin@oesx.com(212) 924-9800 or OESX@catalyst-ir.com

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