Orion Energy Systems (OESX) announced that on June 1 it was issued two new patents for its efficient exterior lighting technology, which reduces energy consumption by up to 50% when compared to current lighting found in 96% of parking lots (according to a study done for the DOE).  It should be noted that this is not LED technology.  Orion’s systems improve upon traditional fluorescent lighting and incorporate intelligent wireless control systems as well as solar power.

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VP Michael Potts commented:  “Our 28 patents are a testament that our aggressive research and development strategies are working, and the result is a product line that outperforms in the marketplace.  The energy-saving performance, modularity, and integrated nature of our technology continues to win business from customers who have already retrofitted their facilities with the competition’s fluorescent technology and are looking for more savings in addition to a platform they can build on with other energy efficient technology like our InteLite(R) wireless controls and Apollo(R) solar light pipe.”

The technology is currently being deployed in the parking lots of one of biggest parking management companies in the US, a medical facility and a large Vegas hotel/casino.  Since 2001, the company has installed its efficient lighting systems for 120 of the 500 Fortune 500 companies.

Shares of OESX continue to trade around all time lows around the $3 level and may offer a compelling long term play down here.  I’d want to see a bit more buy volume come though.