This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Orion Energy Systems And De Lage Landen Partner For Energy Efficiency Finance

Orion Energy Systems, Inc. (NYSE Amex: OESX), a leading power technology enterprise that designs, manufactures and deploys energy management solutions, announced today that it has reached an agreement with De Lage Landen for the purpose of financing Orion’s Throughput Agreement (OTA) projects.

The program agreement is aimed at making energy efficiency finance more easily available and affordable for companies who desire to benefit from the tremendous energy cost savings delivered through Orion’s energy management products. The agreement differs from recent debt financings that Orion has completed, providing for the transfer of asset ownership directly to De Lage Landen.

Neal Verfuerth, Chief Executive Officer of Orion commented, “This agreement further enhances Orion’s OTA finance strategy and our commitment to align with finance service providers. De Lage Landen recognizes the compelling opportunity around energy efficient solutions and the enormous financial benefits that can be delivered to energy users. They have a strong history of success in providing finance solutions and we are pleased to be able to partner with a global equipment finance market leader.”

Scott Jensen, Chief Financial Officer of Orion also said, “Even as we worked through the program development process, the De Lage Landen team has been outstanding to work with. We’ve already worked together to execute several customer deals with a value of approximately $700,000. This relationship allows us to focus on our core competency of developing and integrating energy efficient products on behalf of our customers and shifts the financing responsibilities to an industry leader in that field.”

“We’re excited to partner with Orion,” says Mark McGovern, General Manager, Clean Technology Group, De Lage Landen. “Their go-to-market strategy and comprehensive offerings in lighting, solar, wind and other energy-efficient solutions make them an excellent fit for De Lage Landen. We’ve enjoyed working with them to develop and roll out this new program to support and grow their sales, and we look forward to expanding this relationship in the future.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs