Orion Energy Systems Responds to New EV Infrastructure Guidance
Recently, Orion Energy Systems, Inc. (NASDAQ: OESX), recognized for its innovative lighting solutions and electric vehicle (EV) charging infrastructure, expressed strong support for new federal funding aimed at enhancing EV charging locations across the nation. Understanding the importance of reliable charging options, Orion commended the government’s allocation of $5 billion intended for dependable EV charging infrastructures, which aligns seamlessly with the quality standards already established by their Voltrek division.
Emphasizing Quality Standards in EV Charging
Orion’s Chief Executive Officer, Sally Washlow, stated that the recent guidance from the U.S. Department of Transportation and the Federal Highway Administration reflects the quality benchmarks that Orion/Voltrek has long upheld. "The federal guidance essentially mirrors the best practices and quality standards that Orion/Voltrek routinely requires in hundreds of its deployments," Washlow noted. This suggests a nationwide alignment, affirming that their installation and maintenance protocols have set a de facto standard in the United States for EV charging stations.
Market Opportunities Ahead
Kathleen Connors, President of Orion’s Voltrek division, highlighted the timely nature of this announcement, emphasizing that 84% of the allocated NEVI funds are still unallocated. This presents a significant opportunity for Orion/Voltrek, as they are actively engaged in strengthening state-level decisions regarding EV infrastructure. With their presence expanding, Orion is positioned to make a substantial impact in the evolving charging station landscape.
Ongoing Projects and Initiatives
Orion/Voltrek is currently rolling out hundreds of EV charging stations, including a noteworthy project involving the installation of 90 charging stations within the Boston Public School system. This initiative is part of a larger plan to electrify 100% of the district's 750 school buses, marking a significant step towards sustainable transportation in one of the largest school-bus electrification efforts in the Northeastern United States.
About Orion Energy Systems
Orion Energy Systems is a key player in delivering energy-efficient and environmentally friendly solutions, offering a wide range of products including LED lighting, electric vehicle charging stations, and maintenance services tailored for large-scale national projects. The company focuses on providing comprehensive solutions from design through installation, ensuring that its clients achieve both business and environmental sustainability goals while minimizing their carbon footprint.
Sustainability Commitment
Orion maintains a strong commitment to sustainability, actively promoting practices that ensure responsible operations across all segments of the business. They continually strive to enhance their governance practices and report on their progress towards sustainability goals, advocating for healthier and cleaner environments.
Contact Information for Investor Relations
For inquiries, interested parties can reach out to Orion Energy Systems' investor relations contacts:
Per Brodin, CFO
Contact: (212) 924-9800
Email: pbrodin@oesx.com
Catalyst IR
Email: OESX@catalyst-ir.com
Frequently Asked Questions
What recent guidance has Orion Energy Systems supported?
Orion has lauded federal guidance directing $5 billion towards EV charging infrastructure, highlighting its alignment with Orion/Voltrek’s quality standards.
What is the significance of the NEVI funding?
The NEVI funding represents a substantial market opportunity, with a large portion still unallocated, allowing Orion/Voltrek to further their impact in EV infrastructure.
What major projects is Orion involved in?
Orion is currently deploying 90 EV charging stations in the Boston Public School system as part of an electrification initiative for school buses.
What commitments does Orion have towards sustainability?
Orion is dedicated to sustainability and responsible operations, actively reducing environmental impact through energy-efficient solutions and transparency in governance.
How can investors contact Orion's investor relations team?
Investors can reach Apollo's investor relations team through Per Brodin at (212) 924-9800 or via email at pbrodin@oesx.com.
