cash invested back into growing the business. By 2016, the company was realizing over 80% of its sales from solid state LED lighting and returned to its historic profit margins.
HigHest performiNg leD ligHtiNg proDuCts iN tHe marKet In 2014, Orion launched its second generation LED high bay fixtures, building on its innovative leadership in this market segment. In 2015, LED offerings were expanded to include task lighting, industrial strip fixtures and exterior product options to meet the evolving needs of retrofit customers. Orion also recognized that as the LED market became more established, three fairly dis-
tinct customer classes with different needs and purchasing priorities were developing. Quick to launch a three-tiered branding approach, Orion’s line now offers products that meet key customer needs from those looking for low cost, to those seeking a midtier line balancing performance and value, to customers more concerned with long term total cost of ownership. In 2016, Orion introduced a new line of products to the underserved agribusiness and foodservice markets. Then the subsequent launch of its third generation ISON™ high bay fixture, which delivered industryleading performance of 214 lumens per watt (LPW), was a real game-changer. To that point it was believed that an LED high bay fixture would not be capable of delivering even 200 LPW, but Orion accomplished what
The Generation III fixture was 20% higher performing than Orion’s own industry-leading Generation II fixture and 40% higher than virtually all its competition. 20
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its competitors could not. The Generation III fixture was 20% higher performing than Orion’s own industry-leading Generation II fixture and 40% higher than virtually all its competition. This performance gives Orion customers a funding source (in the form of energy savings) to invest further into Smart Building technology that is integrated into the Orion fixtures. As such, Orion’s customers benefit from insightful data and tracking capabilities that are important to managing a facility in today’s competitive environment. Executive VP Scott Green, who oversees Product Innovation, tells us, “Orion LED products cost less to operate than our competitors’ fixtures. If someone purchases another company’s LED High Bays, they are simply choosing to spend more on their utility bill. Base fixture performance is paramount. The more energy savings delivered from the fixture, the more cash flow is available to fund Smart technologies.” Orion has launched multiple expansions to its offerings including a patented modular fixture designed to be upgradable and compatible with developing third party sensor technologies such as wireless, Bluetooth and Internet of Things (IoT) architectures. These technologies can transform a company’s lighting system into a platform that captures real-time data like occupancy, daylight harvesting, thermal sensing and energy consumption, and translates it into useful insights to help analyze data received and make smarter decisions about energy consumption, space utilization, maintenance requirements, security, climate control, and fire and safety systems.
CompetiNg iN a fragmeNteD marKet witH DomiNaNt players Orion has unique competitive advantages. First, the company predominantly sells into the building retrofit market, a complex solution that provides a natural barrier to entry. Retrofitting a building requires working in occupied spaces and accepting the existing www.stocknewsnow.com