Orion Energy Systems, Inc. Not Affected by Solyndra, Inc. Bankruptcy
Orion Energy Systems, Inc. (NYSE: OESX) 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.
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