Orion Energy Systems, Inc. (NYSE Amex: OESX), a leading power technology enterprise that designs, manufactures and deploys energy management solutions for the commercial and industrial sector, announced today that it does not expect to be adversely impacted by the bankruptcy of solar panel manufacturer, Solyndra, Inc.
“Although Solyndra was our primary vendor for PV solar panels that we installed for many of our customers, its high profile bankruptcy is not expected to have any material adverse effect on our customers or us,” said Neal Verfuerth, Orion’s Chief Executive Officer.
“Our market strategy from the inception of our Orion Engineered Systems Division was to anchor our value proposition around our expertise in project design, implementation and project management. We led with Solyndra’s system due to the competitive advantage offered when considering ‘Total Cost of Ownership’ per kwh/produced, not the initial panel cost per watt on which the market seems to be fixated today,” said Verfuerth.
“The good news for us is that Solyndra doesn’t owe us any money and we have been continually vetting other PV technologies over the last several years, so the transition to other suppliers will result in minimal disruption to our customers and us,” he explained.“We continue to secure new PV system contracts supported by other very reputable and cost competitive suppliers. With respect to previously installed Solyndra systems, we have had no issues to date with getting the product support and warranty coverage from Solyndra, even during its bankruptcy proceedings. We continue to be optimistic that Solyndra will emerge from bankruptcy in the near future,” said Verfuerth. About Orion Energy Systems Orion Energy Systems, Inc. (NYSE Amex: OESX) is a leading power technology enterprise that designs, manufactures and deploys energy management systems – consisting primarily of high-performance, energy efficient lighting platforms, intelligent wireless control systems and direct renewable solar technology for commercial and industrial customers – without compromising their quantity or quality of light. Since December 2001, Orion’s technology has benefitted its customers and the environment by reducing its customers’:
- Energy demand by 658,016 kilowatts, or 16.7 billion kilowatt-hours;
- Energy costs by approximately $1.3 billion; and
- Indirect carbon dioxide emission by 10.8 million tons.
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