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.”
About Orion Energy SystemsOrion 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. For more information, visit www.oesx.com. About De Lage Landen De Lage Landen, a fully owned subsidiary of Rabobank Group, specializes in asset-based financing programs for equipment manufacturers, dealers and distributors all over the world. Our programs cover our customers’ total distribution chain, as well as the entire lease lifecycle. We offer customers a single source for leasing, administration, risk and asset management solutions. De Lage Landen’s diversified solutions include car leasing in the European market and consumer finance and factoring in the Dutch home market. Establishing a close and long-lasting relationship with our customers is at the heart of our company culture. This requires a genuine interest in and a thorough understanding of our customers’ business needs and goals. We partner with our customers to tailor solutions and develop programs that support mutual growth and profitability. We care not only about our customers, but also about the communities in which we operate. We strive to have a positive social and environmental impact through our products and the way we conduct business. For more information, please visit our website: www.delagelanden.com.