During MWC Barcelona 2021, Huawei Executive Director and President of Carrier BG Ryan Ding delivered a keynote speech Innovation: Lighting up the Future. In his keynote, Ding said that innovation in ICT is becoming a key driver of the global economy and its value is moving beyond the telecoms industry. Ongoing innovation in 5G, in particular, will bring more value to operators, the ICT industry, and the global economy, and will light up the future of every industry.

"The pandemic has created a new normal in which the digital economy is the driving force for the global economy. ICT infrastructure, as the cornerstone of the digital economy, is playing an increasingly important role," said Ding. "The value of ICT now transcends the telecoms industry and has transformative implications for the global economy as a whole."

In countries where 5G is developing faster, operators have seen faster revenue growth, and these countries also tend to have better digital infrastructure overall. Taking China as an example, in less than 18 months, more than 820,000 5G base stations have been deployed, and Chinese operators achieved a 6.5% increase in revenue and a 5.6% increase in net profits in the first quarter this year. The rapid development of digital infrastructure driven by 5G will add EUR1.9 trillion to the Chinese economy in the next five years. The same stories are also unfolding in South Korea and Europe.

As ICT infrastructure is the cornerstone of the digital economy in the 5G era, operators are playing a more important role than they used to.

Ding said, "Currently, the major goal of operators in 5G is to achieve business success in three key markets consumers, homes, and industries through innovation in network deployment, market development, and operation optimization."

"In the consumer market, 5G means not just faster speeds; it also brings new experiences and new value. Some operators have already achieved initial business success."

According to Ding, there are three steps an operator can take to succeed in the 5GtoC market. The first is to speed up 5G deployment, with targeted network planning and investment based on precise insights into high-value areas, key scenarios, and potential users. The second is to accelerate 5G user migration, and the third step is to create value-driven, flexible pricing models.

Today, 5G has been applied in over 1,000 projects in more than 20 industries including steel and mining, enabling safer and more efficient production. Chinese operators have made great progress and are entering the phase of taking early successes and replicating them at scale.

"We've learned from Chinese operators' experience that the success of 5GtoB depends on three factors," said Ding. "First, selecting the right industries. Operators should choose target industries by looking at four factors: demand, affordability, replicability, and technical feasibility. Second, defining the scope of your offerings. Operators can serve as network providers that offer connectivity services. They can also serve as cloud service providers, or even system integrators that provide end-to-end integration services. Different roles require different skillsets and yield different business value. Third, designing innovative business models. This is key to replicating 5GtoB success at scale."

During the pandemic, there is a growing demand for home broadband, and this has highlighted the advantages of 5G FWA that enables rapid deployment and contactless O&M. Middle East operators have achieved remarkable commercial success by taking FWA as a key use case of 5G.

"5G success first requires a 5G network that provides the best user experience, and this guides how we innovate at Huawei," said Ding. Huawei has launched the industry's lightest and most powerful Massive MIMO that consumes less energy. It can be carried and installed by just one person, which speeds up network deployment.

With Huawei's Optical Cross-Connect (OXC), one sub-rack can replace nine cabinets normally needed. It has four times larger capacity, but uses 95% less power. Huawei's 5G Super Uplink solution combines the advantages of 2.1 GHz and 3.5 GHz to enhance uplink capacity and indoor coverage. This solution provides a peak uplink rate of over 450 Mbit/s, enabling hundreds of users to live stream the Xiamen Marathon in 4K in April using their 5G smartphones.

To support green development models and carbon neutrality, according to Ding, Huawei keeps innovating at three levels: equipment, sites, and networks. At the equipment level, Huawei uses components with higher power efficiency to make hardware platforms more energy efficient. At the site level, Huawei's simplified site solutions help operators lower energy consumption, as well as save on electricity and rent.

At the network level, Huawei has launched a multi-band and multi-RAT power saving solution. This solution can cut energy consumption in wireless networks without compromising network performance. With Huawei's innovative solution, 5G equipment working in low and high bands can share a cabinet, and as a result, less energy is used. When it comes to multi-band equipment power saving, Huawei's goal is to make one plus one less than one.

Korea IT Times

Original post:
Huawei's Ryan Ding says ongoing innovation is lighting up the future of every industry - Korea IT Times

Before skiing was big business in Maine, several of most notable mountains in the state had to find different and unique ways to keep locals coming back year after year. Whether it was new lodging, new amenities or new equipment to get up and down the mountain, competition was fierce. That included a duel of sorts between Sunday River and Mt. Abram in the late 1970's. Each mountain was trying to grab the attention of skiers but also families and in the process,began to toy with different ideas. According to New England Ski History, that led Mt. Abram to debut a monorail ride in 1978 called the "American Zephyr".

Shared by Todd A. Merry in the Facebook group Old Pictures of Forgotten Maine, some of his families home videos show what visitors to Mt. Abram experienced on the monorail ride in the late 70's. When it debuted, it was the first-of-its-kind in the northeast and was received so well that Mt. Abram opened a second, smaller monorail ride in 1979. The popularity led Attitash in New Hampshire to add a similar attraction to their mountain as well.

For Mt. Abram, the "American Zephyr" excitement was short lived unfortunately. Once the new shine wore off, there were a cascade of issues with ride experience for many. Sometimes the ride would go too slow because of nervous riders, other riders were too aggressive leading to dangerous behavior on the monorail. After several seasons of complaints, Mt. Abram decided to abandon the monorail business in the early 1980's.

15 Stores You Shopped At In Maine But Your Kids Have Never Heard Of

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Mt. Abram In Maine Was Once Home To A Thrilling Monorail Ride - wcyy.com

According to a new research report titled Dimmable LED Lighting Market Global Industry Perspective, Comprehensive Analysis And Forecast by 2021 2026

This has brought along several changes in This report also covers the impact of COVID-19 on the global market.

The report provides revenue forecasts for global, regional and country levels. It also provides comprehensive coverage on major industry drivers, restraints, and their impact on market growth during the forecast period. For the purpose of research, The Report has segmented global Dimmable LED Lighting market on the basis of types, technology and region

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Key Competitors of the Global Dimmable LED Lighting Market are:MEAN WELL, Philips, Inventronics, Tridonic, Delta Electronics, Hubbell Lighting, MOSO Power, Eaglerise, TCI, OSRAM SYLVANIA, LIFUD

The Global Dimmable LED Lighting Market Research Report is a comprehensive and informative study on the current state of the Global Dimmable LED Lighting Market industry with emphasis on the global industry. The report presents key statistics on the market status of the global Dimmable LED Lighting market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

Major Product Types covered are:

DALI1-10VTRAICTrailing Edge

Major Applications of Dimmable LED Lighting covered are:

Indoor LightingOutdoor LightingSpecial Lighting

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Regional Dimmable LED Lighting Market (Regional Output, Demand & Forecast by Countries):-North America (United States, Canada, Mexico)South America ( Brazil, Argentina, Ecuador, Chile)Asia Pacific (China, Japan, India, Korea)Europe (Germany, UK, France, Italy)Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And More.

The research report studies the past, present, and future performance of the global market. The report further analyzes the present competitive scenario, prevalent business models, and the likely advancements in offerings by significant players in the coming years.

Key Questions answered by the Report

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Dimmable LED Lighting Market Growth Analysis, Incredible Possibilities and Forecast To 2026 New Mexico Tribune - New Mexico Tribune

Sure, it might seem daunting, but taking your backyard to-do list one item at a time lets you accomplish more than you think over the course of a weekend. Get your backyard in tip-top shape by tackling a combination of these tasks (depending on your setup) and before you know it, your outdoor space will be ready for barbecues and plenty of entertaining.

Revive wood furniture. Dont get intimidated! Most of the time needed for this project is letting the pieces dry completely between steps. Using a kit like Furniture Clinics Garden Furniture Restoration Kit gives you everything you need to clean, brighten, and condition your wood furniture, as quickly and easily as possible.

Refinish metal furniture. Over time, metal furniture can develop chips in the finish and rust, and a little regular maintenance can help stop it in its tracks. Check the forecast for a warm, dry day [and] work in a shady, protected area if possible, says Rachel Rothman, chief technologist at the Good Housekeeping Institute. First, use a small wire brush to wipe away the rust spot, clean with soap and water and let it dry completely. Use a spray paint thats formulated for metal and outdoor use to reseal the raw metal areas. Let the paint dry completely before exposing it to the elements.

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Get garden beds under control. Carolyn Forte, the cleaning lab director at the Good Housekeeping Institute, says taking time to pull weeds by hand actually gets the job done quicker than you might think. Make sure the soil around your annuals is nicely aerated and get rid of any and all debris, she explains. Putting down mulch helps prevent new weeds from popping up during the season and makes beds look neater.

Pro tip: Use a flat-edged shovel to straighten out any uneven edging around the beds.

Power wash outdoor surfaces. Banish mold, mildew and dirt from your patio and siding with the help of an easy-to-use power washer. Theres no need to get a commercial grade machine for a job like this; a small model works well. First wash down surfaces and remove loose debris, and use the lowest possible pressure that is effective, says Rothman. As a general rule, Rothman advises using the broadest and lowest pressure nozzle you can, and to test an inconspicuous area first. Stand at least six inches away as you work your way in a sweeping motion and maintain a consistency distance from the siding. Hold the tip of the nozzle at an angle above the surface you are cleaning. Watch out, the instant squeaky-clean results can be a little addicting!

Add the right accents. Bring a little bit of your indoor style outside, with rugs and pillows that are weather resistant. There are so many options these days! You want to get accessories that are easy to keep clean and hose off when neededlook for outdoor rugs made with polypropylene. Its durable and easy to clean, and the texture feels surprisingly close to what youd find in an indoor rug. If youre not buying new, you can treat your existing outdoor cushions and pillows with a UV fabric spray to prevent fading and stains, Rothman says.

Second Skin Garden Gloves

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Long-Handle Steel Edger

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Michaela Indoor / Outdoor Area Rug

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Fill hanging planters and pots. One of the to-dos many people miss is replacing dirt in their pots and hanging planters, Forte explains. After any summer season, nutrients in the soil will be depleted. Replacing or mixing in some new soil or compost will give your new plants what they need to grow all summer long. If youre filling a larger pot and dont want it to get too heavy, you can use leftover Styrofoam on the bottom instead of filling it completely with dirt, she says.

Mow the lawn, but not as short as you think. It turns out less is more when it comes to your lawn. Keep your mower blades sharp and make sure youre only cutting a third of the grass length, as cutting it too short will weaken it. You should raise your mower deck so you are removing less with each cut, says Rothman. Keeping most cool-season grass in the 2.5 to 4-inch range will keep your lawn healthier."

Pro tip: If you plan to water your grass, do it in the morning or early evening; water will evaporate at midday.

Add some lighting. Dont underestimate the magic of bistro-style lights in your outdoor space. Vertical lines over an outdoor seating area always look niceor simply drape them along your fence line. As a time saver, use lighting clips to make the whole job a cinch. They attach to whatever surface is available and the light cords clip right in. Worried about outdoor power? Try solar lights.

Freshen up the fire pit. If youve invested in a beautiful fire pit, youll want to keep it looking pristine for as long as possible. The secret to longevity is cleaning out completely cooled ash after a fire. Simply brush it out of the bottom of your fire pit between uses. If you dont want to worry, invest in a water tight cover to go over your fire pit between uses.

Pro tip: Avoid letting water mix with ash in your fire pit; over time it turns into lye, which eats away at metal.

Clean the grill. The biggest mistake people make when cleaning a grill is trying to scrape off stuck-on gunk while the grates are cold. Instead, work with a warm grill and a high quality, metal-bristled grill brush thats in good condition to clean. Then, lubricate the grates with a high heat oil. Once the grill cools down, remove and clean the drip trayyou never want to store it with grease in it because it attracts animals, says Forte. Line it with aluminum foil to make clean up easier next time.

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Taking time where you have it to complete these little outdoor projects can make a big impact on the look and feel of your yard! Get started today and youll be blown away by how much more welcoming your outdoor space looks.

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10 Ways to Beautify the Backyard in One Weekend - GoodHousekeeping.com

Neil Coppinger and Colleen OHara

Signify, a world leader in lighting technology, has expanded its horticulture team in North America to support business development efforts in the region. Neil Coppinger and Colleen OHara have joined the U.S. team as Key Account Managers and will be responsible for developing new business opportunities and driving sales growth of Philips LED horticulture grow lights across all customer segments.

Coppinger will support sales efforts in the Central U.S. and Southeast, OHara will support sales efforts in the Northeast. Both bring extensive knowledge and experience in the application of horticulture LED lighting technology.

Coppinger comes to Signify with 13 years of agriculture and horticulture technology sales experience. He most recently served as National Sales Director at BIOS Lighting, where he worked with greenhouse and indoor growers to adopt and integrate horticultural lighting solutions. Prior to that, Coppinger held roles at Motorleaf, a company specializing in artificial intelligence for greenhouse production, and at LED grow lighting manufacturers Heliospectra and Lumigrow.

OHara, based in southern New Jersey, brings extensive horticulture knowledge and experience to Signify, most recently as Commercial Sales Manager for the Mid-Atlantic region at Hawthorne Gardening. Prior to joining Hawthorne, she was the East Coast Regional Business Development Manager for BIOS Lighting with an emphasis on providing lighting solutions for cannabis cultivators. Before joining BIOS, she served as Director of Sales for HiFarm, a craft cannabis cultivator in Portland, OR.

Signify Key Account Managers are responsible for developing new business and driving sales growth across customer segments including greenhouse food, floriculture, vertical farms, medicinal cannabis, and research institutes and universities. Key Account Managers collaborate closely with Signify Plant Specialists and Project Application Engineers to facilitate co-creation with growers and develop tailored lighting solutions to meet their needs.

Brian Sparks is senior editor of Greenhouse Grower and editor of Greenhouse Grower Technology. See all author stories here.

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Signify Adds Expertise to Its Horticulture Lighting Team - Greenhouse Grower

Anonym Studio has designed a stunning 1,080 sq. meter home in Bangkok, Thailand, that comes with a full rock climbing wall and a gradient brick facade that allows dazzling patterns of light to shine in.

Dubbed Sailom House, the project is a four-story home that accommodates three families. The complex, designed in 2020, is meant to replicate a serviced apartment with functional spaces on each floor that all members can use.

On the first floor, common areas like the kitchen and living room have been laid out for communal use. Above that, each upper floor houses the residents bedrooms, along with additional living areas and pantries. Each story is linked together via two internal courtyards that open up into a space between the ground and fourth floor.

Notably, the house features an intricate climbing wall, an add-on requested by the owner who is an avid climber. The court hosts a walkway on each floor meant to overlap and combine spaces. The roof is elevated at the upper part of the court, creating a void that best facilitates airflow and natural lighting. The outdoor and indoor spaces meld together intentionally, allowing wind and light to obscure elements that exist inside and outside of the home.

The highlight of the home is the slotted brick facade that offers natural ventilation and a variety of dynamic patterns. The designers say that the brick materials were affordable, accommodate airflow and allow for heightened safety. The facade provides refuge to areas of the home that are exposed to excessive amounts of sunlight and has varying patterns that allow for more or less privacy, depending on where theyre placed. For the top parts of the house, the bricks become more perforated and airier, whereas the lower areas have tighter brick clusters.

The space between the home and the facade has been fashioned into a veranda dotted with potted plants, creating a greener living space. The buildings architects say the bricks used in the facade were styled without making any cuts, so calculating the ranges between each block, beam and lintel was done with intention.

There is this element of craft to it as well, said Phongphat Ueasangkhomse, one of the homes architects.

The beams above the brick facade were left deliberately exposed, as were the air conditioning pipes in the living room, leading to a rustic and industrial feel. I like this house because it isnt about the crisp and polished details. We did everything the way it could and should be done. I wasnt too serious or trying too hard about making everything flawless, and thats what I love most about it, added Phongphat.

In other news, Sothebys International Realty listed a home in Houston, Texas, nicknamed The Darth Vader House due to its angular design. Check it out here.

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This Home in Thailand Features a Rock Climbing Wall and Light-Filled Brick Facade - HYPEBEAST

The global lighting contactor market is projected to reach USD 1,111.0 million by 2023, at a CAGR of 8.53%, during the forecast period.

According to the new market research report Lighting Contactor Market by End-User (Smart Residential Complexes, Commercial, Industrial, and Municipal), Type (Electrically Held and Mechanically Held), Application (Indoor and Outdoor), and Region Global Forecast to 2023, The lighting contactor market is expected to grow USD 1,111.0 million by 2023, at a CAGR of 8.53% during forecast period. This growth can be attributed to the increasing adoption of energy-efficient lighting, growing demand for smart controls in lighting systems, and increasing adoption of IoT in the lighting industry.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24570823

Commercial segment is expected to hold the largest share of the lighting contactor market, by end-user, during the forecast period.

Lighting contactors are used widely in commercial setups such as corporate offices, healthcare and retail complexes, hotels, restaurants, and educational institutes. Increasing need for energy efficiency is the major objective for governments, organizations, building owners, and other stakeholders. The governments in different countries are adopting LEDs to increase energy efficiency as it can directly reduce the maintenance and utilization cost. Lighting control systems reduce the energy consumption by optimizing ambient light levels to suit the users needs, thereby reducing the overall demand for lighting energy. Lighting control systems require lighting contactors for controlling lights, which require frequent on and off operation. Thus, the increase in the adoption of energy-efficient lighting is likely to boost the lighting contactor market.

Electrically held segment is expected to grow at the fastest rate in the lighting contactor market, by type, during the forecast period.

The electrically held segment is expected to grow at the fastest rate in the lighting contactor market during the forecast period. These contactors require an uninterrupted flow of power for continuous operation. If the power is lost, the contactors isolate the light from the circuit. A constant current flow is required to keep the contactor energized. These contactors are noiseless and consume less amount of control power than other contactors. They are mainly used in smart residential complexes and commercial and industrial segments. Thus, the adoption of electrically held contactors is more than mechanically held contactors.

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Europe: the leading market for lighting contactors

In this report, the lighting contactor market has been analyzed on the basis of 5 regions, namely, Asia Pacific, Europe, North America, South America, and Middle East & Africa. The market in Europe is expected to lead the global lighting contactor market in 2018 and is projected to have the largest market share by 2023. The growing demand for lighting control systems in Europe makes it a potentially growing market for lighting contactor providers. The drive for green city projects has brought into the focus on energy efficiency in most of the EU countries. This has created a market opportunity for the manufacturers of LED and energy-efficient lighting control systems and solutions. Moreover, historical buildings, architectural sites, and hospitality businesses contribute to the increased demand for innovative lighting solutions. Thus, the demand for lighting control systems in commercial, residential, and industrial sectors is increasing which is likely to drive the lighting contactor market.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the lighting contactor market. The key players in the market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), and Eaton (Republic of Ireland). The leading players are trying to expand in developing economies and are adopting various strategies to increase their market shares.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the Growth Engagement Model GEM. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write Attack, avoid and defend strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Lighting Contactor Market to Witness Steady Growth through 2023 | ABB, Siemens, Schneider Electric, Rockwell Automation, Eaton - Digital Journal

MANITOWOC, Wis., June 01, 2021 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, controls and IoT systems, including turnkey project implementation, program management and system maintenance, today reported results for its fiscal 2021 fourth quarter (Q421) and year ended March 31, 2021 (FY 2021). Orion will hold an investor call today at 4:30 p.m. ET details below.

Financial Highlights

CEO CommentaryMike Altschaefl, Orions CEO and Board Chair, commented, The Orion team achieved solid FY 2021 financial results despite very challenging first half business conditions due to the onset of the COVID-19 pandemic. Our full year performance benefitted from a significant rebound in our business in the second half as many customers returned to pre-COVID-19 levels of activity. We achieved profitability and positive cash flow from operations in Q421 and FY 2021 while also building our pipeline of project opportunities for FY 2022 and beyond. I extend our Board and management team's sincere appreciation and thanks to our team and our business partners for their dedication and perseverance through a very challenging period.

In FY 2021, we continued to expand the breadth and diversity of our customer base across several sectors, including retail, warehousing and logistics, automotive OEMs, healthcare and the public sector. We also further enhanced our product line with continued investment in product development, enabling the introduction of our new Starline high-bay LED fixtures, a new line of exterior lighting products, and next generation linear LED fixtures. These new products provide efficient, cost-effective design and enhanced energy efficiency to support our customers' environmental and business goals, and they have been well received in the market.

We also recently launched our new ISON PureMotionproduct line, expanding our business into airflow solutions to create healthier indoor spaces. The line includes ISON PureMotion Air; ISON PureMotion Light; and ISON PureMotion UVC, which uses UVC light rays in a sealed chamber to kill bacteria, fungi, mold and viruses to create a safer and healthier work environment.

Our FY 2022 is poised to benefit from a growing and more diverse group of large national account customers and projects. These customers recognize the value of Orions innovative, energy efficient products and our unique, customized, turnkey LED lighting design-build-install capabilities and strong customer service. We have a proven track record executing large national retrofit installation programs with efficient, high-quality and customized products and excellent, on-schedule service.

Reflecting the national scope of our service capabilities, during FY 2021 Orion launched a lighting, electrical and other maintenance services business that we believe can grow into an important longer-term recurring service revenue opportunity.

Given the compelling benefits our solutions provide, ranging from improved illumination, enhanced work environments, greater safety, and environmental and cost benefits, we are very optimistic regarding Orions outlook for FY 2022 and beyond.

Underscoring our optimism is the enormous untapped market for LED lighting and controls upgrades at facilities that have yet to be updated. Based on a U.S. Department of Energy study, the domestic LED retrofit opportunity in Orions key markets is estimated to be in excess of $20B today and growing to over $80B by 2035. To pursue this substantial market potential, Orions Board and management team have updated the Companys strategic plan to help guide our organic and inorganic growth initiatives, with a long-term target of building Orion to a company generating up to $500M in annual revenue in approximately five years. To achieve this long-term target, our plan envisions organic growth of at least 10% per year, augmented by external growth initiatives including the active pursuit of strategic acquisitions and business partnerships. We set these financial goals to provide our stakeholders with a vision of what we believe Orion can become."

Business OutlookOrion currently expects to achieve FY 2022 revenue of $150M to $155M, representing growth of at least 28% over FY 2021, excluding any recurrence of COVID-19 business impacts. This outlook is based on further progress in diversifying Orion's customer base and revenue sources and is supported by the following opportunities:

Orion cautions investors that its financial outlook is subject to a range of factors that are difficult to predict, including but not limited to the COVID-19 pandemic and possible business and other economic impacts.

Tax ProvisionAs a result of the valuation allowance release at the close of FY 2021, Orion expects its financial results to reflect a GAAP tax provision in future periods that is more in line with statutory tax rates. However, based upon current tax laws and the Companys federal net operating loss carryforwards of approximately $69M at 3/31/21, Orion does not expect to pay meaningful cash taxes for several years.

Financial ResultsOrions Q421 revenue rose 37.0% or $9.6M to $35.5M from $25.9M in Q420, due to strong national account retrofit activity as business rebounded from COVID-19 related disruptions earlier in FY 2021. Q421 benefitted from several large national retrofit projects, including for a large national retail customer and a specialty retailer. FY 2021 revenue was $116.8M compared to $150.8M in FY 2020, principally due to pandemic related work stoppages and project delays during the first half of the year.

Gross profit rose 59.7% or $3.4M to $9.2M in Q421 from $5.8M in Q420. FY 2021 full year gross profit was $30.1M compared to $37.1M in FY 2020, primarily due to lower revenue, partially offset by an increase in gross profit percentage. The gross profit percentage increased 120 bps to 25.8% in FY 2021 from 24.6% in FY 2020, mainly due to improved product margins and managing supply chain and input costs, more than offsetting increases in raw material and component prices.

Total operating expenses were $23.3M in FY 2021 vs. $24.0M in FY 2020 but increased as a percentage of sales to 19.9% from 15.9%, year-over-year, primarily due to the impact of lower business volume. Q421 operating expenses improved to 18.8% of sales from 23.7% in Q420, principally reflecting the benefit of fixed cost absorption from higher business volume in Q421.

Orion generated EBITDA of $2.9M in Q421 versus $0.0M in Q420. FY 2021 EBITDA was $8.4M versus $14.7M in FY 2020, reflecting the pandemics impact on FY 2021 revenue.

Q421 and FY 2021 results included a non-cash tax benefit of $20.9M, or $0.67 and $0.66 per diluted share, respectively, resulting from the release of the valuation allowance previously recorded against Orions deferred tax assets. As a result, Orions reported net income and earnings per share are not representative of its operating results and comparisons to prior and future periods will not be meaningful without adjusting for such tax benefit.

Q421 net income excluding the tax benefit improved to $1.2M, or $0.04 per diluted share, compared to a net loss of ($0.5M), or ($0.02) per basic share, in Q420, reflecting higher revenue and gross profit. FY 2021 net income excluding the tax benefit was $5.2M, or $0.17 per diluted share, compared to net income of $12.5M, or $0.40 per diluted share, in FY 2020, principally reflecting higher revenue in FY 2020.

Cash Flow & Balance SheetOrion generated $7.4M of cash from operating activities in Q421 as compared to $6.1M in Q420. The increase was due to higher net income and favorable working capital changes. Orion generated $1.7M of cash from operating activities in FY 2021, versus $20.3M in FY 2020, with the difference attributable to lower net income plus working capital investments.

As of March 31, 2021, Orions net working capital balance was $26.2M, compared to $27.8M at March 31, 2020. Working capital at March 31, 2020 included $10.0M drawn from the Companys revolving line of credit in response to pandemic uncertainties. In December 2020, Orion secured a new five-year$25.0M revolving credit facility. The facility provides a 25% increase in financing capacity and liquidity to support the Companys strategic growth plans. As of March 31, 2021, Orion had no balance outstanding on its revolving credit facility, $19.4M of cash and cash equivalents and $25M of availability on its credit facility.

About Orion Energy SystemsOrion provides innovative LED lighting systems and turnkey project implementation including installation and commissioning of fixtures, controls and IoT systems, as well as ongoing system maintenance and program management. We help our customers achieve energy savings with healthy, safe and sustainable solutions, enabling them to reduce their carbon footprint and digitize their business.

Non-GAAP MeasuresIn addition to the GAAP results included in this presentation, Orion has also included the non-GAAP measures, EBITDA (earnings before interest, taxes, depreciation and amortization), net income excluding the tax benefit and diluted earnings per share excluding the tax benefit. The Company has provided these non-GAAP measures to help investors better understand its core operating performance, enhance comparisons of core operating performance from period to period and allow better comparisons of operating performance to its competitors. Among other things, management uses these non-GAAP measures to evaluate performance of the business and believes this measurement enables it to make better period-to-period evaluations of the financial performance of core business operations. The non-GAAP measurements are intended only as a supplement to the comparable GAAP measurements and Orion compensates for the limitations inherent in the use of non-GAAP measurements by using GAAP measures in conjunction with the non-GAAP measurement. As a result, investors should consider these non-GAAP measurements in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with generally accepted accounting principles.

Consistent with Regulation G under the U.S. federal securities laws, the non-GAAP measures in this press release have been reconciled to the nearest GAAP measures, and this reconciliation is located under the heading Unaudited EBITDA Reconciliation and Unaudited Earnings Per Share Reconciliation following the Condensed Consolidated Statements of Cash Flows included in this press release.

COVID-19 ImpactsThe COVID-19 pandemic has disrupted business, trade, commerce, financial and credit markets, in the U.S. and globally. Orions business has been materially adversely impacted by measures taken by government entities and others to control the spread of the virus. As part of the Companys recent response to the impacts of the COVID-19, management has taken a number of cost reduction and cash conservation measures. While restrictions have begun to lessen in certain jurisdictions, stay-at-home, face mask, and lockdown orders remain in effect in others, with employees asked to work remotely if possible. Many customers and projects require Orion employees to travel to customers and project locations. Some customers and projects are in areas where travel restrictions have been imposed, certain customers have either closed or reduced on-site activities, and timelines for the completion of multiple projects have been delayed, suspended, or extended. As of the date of this release, it is not possible to predict the overall impact the COVID-19 pandemic will have on the Company's business, liquidity, capital resources or financial results.

Safe Harbor Statement Certain matters discussed in this press release, including under the headings Financial Highlights, CEO Commentary, and "Business Outlook" are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected, including, but not limited to, the following: (i) our ability to manage general economic, business and geopolitical conditions, including the impacts of natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as the COVID-19 pandemic; (ii) the deterioration of market conditions, including our dependence on customers' capital budgets for sales of products and services, and adverse impacts on costs and the demand for our products as a result of factors such as the COVID-19 pandemic and the implementation of tariffs; (iii) our ability to successfully launch, manage and maintain our refocused business strategy to successfully bring to market new and innovative product and service offerings; (iv) our recent and continued reliance on significant revenue to be generated in fiscal 2022 from the lighting and controls retrofit projects for two major global logistics companies; (v) our dependence on a limited number of key customers, and the potential consequences of the loss of one or more key customers or suppliers, including key contacts at such customers; (vi) our ability to identify and successfully complete transactions with suitable acquisition candidates in the future as part of our growth strategy; (vii) the availability of additional debt financing and/or equity capital to pursue our evolving strategy and sustain our growth initiatives; (viii) our risk of potential loss related to single or focused exposure within the current customer base and product offerings; (ix) our ability to sustain our profitability and positive cash flows; (x) our ability to differentiate our products in a highly competitive and converging market, expand our customer base and gain market share; (xi) our ability to manage and mitigate downward pressure on the average selling prices of our products as a result of competitive pressures in the light emitting diode ("LED") market; (xii) our ability to manage our inventory and avoid inventory obsolescence in a rapidly evolving LED market; (xiii) our increasing reliance on third parties for the manufacture and development of products, product components, as well as the provision of certain services; (xix) our increasing emphasis on selling more of our products through third party distributors and sales agents, including our ability to attract and retain effective third party distributors and sales agents to execute our sales model; (xx) our ability to develop and participate in new product and technology offerings or applications in a cost effective and timely manner; (xxi) our ability to maintain safe and secure information technology systems; (xxii) our failure to comply with the covenants in our credit agreement; (xxiii) our ability to recruit, hire and retain talented individuals in all disciplines of our company; (xxiv)our ability to balance customer demand and production capacity; (xxv) our ability to maintain an effective system of internal control over financial reporting; (xxvi) price fluctuations (including as a result of tariffs), shortages or interruptions of component supplies and raw materials used to manufacture our products; (xxvii) our ability to defend our patent portfolio and license technology from third parties; (xxviii) a reduction in the price of electricity; (xxix) the reduction or elimination of investments in, or incentives to adopt, LED lighting or the elimination of, or changes in, policies, incentives or rebates in certain states or countries that encourage the use of LEDs over some traditional lighting technologies; (xxx) the cost to comply with, and the effects of, any current and future industry and government regulations, laws and policies; (xxxi) potential warranty claims in excess of our reserve estimates, and (xxxii) the other risks described in our filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or at http://investor.oriones.com/ in the Investor Relations section of our Website.

Twitter: @OrionLighting and @OrionLightingIRStockTwits: @Orion_LED_IR

See more here:
Orion Q4'21 Revenue Rose 37% to $35.5M on Strong LED Lighting Retrofit Activity - GlobeNewswire

Product prices across the overall lighting LED market are expected to increase by about 0.3%-2.3% QoQ in 2Q21, according toTrendForces latest investigations. This price hike can primarily be attributed to the fact that overall demand in the LED lighting market has been rebounding since 1Q21 and remaining in an uptrend since 2Q21. Furthermore, the industry-wide shortage of LED components in the upstream supply chain, caused by the onset of the COVID-19 pandemic, has yet to be addressed, thereby compelling lighting product manufacturers to ramp up their procurement activities this year in order to avoid a component shortage, which they suffered last year. TrendForce hence expects this bullish trend in the LED supply chain to result in a US$6.709 billion yearly revenue for the lighting LED market in 2021, a 3.43% growth YoY.

TrendForce further indicates that major suppliers of lighting LED packages, including Samsung LED, ams/OSRAM, CREE LED, Lumileds, Seoul Semiconductor, MLS, and Lightning Optoelectronic, have since 1Q21 seen soaring revenues, which are expected to persist through 2Q21, thanks to a swift rise in demand for HCL (human centric lighting), smart lighting, horticultural lighting, and niche lighting (such as lighting for nuclear power stations, pharmaceutical manufacturing facilities, and metal fabrication plants).

With regards to the specific LED packages that will experience a continued price hike, these products include mid- and low-power, indoor lighting LED products with under (not including) 1 watt in power consumption, such as 2835 LED, 3030 LED, and 5630 LED. Prices of these products are expected to increase by 0.3%-2.3% QoQ in 2Q21. On the other hand, a 1.3%-1.8% QoQ increase in prices for the same period can be expected for outdoor, industrial high-power lighting LED products with at least 1 watt in power consumption, such as LED with ceramic substrates and 7070 LED.

Companies are releasing products aimed at post-pandemic applications to secure their market shares in anticipation of high upcoming demand in the LED lighting market.

With regard to the movement of lighting LED product prices from the perspective of the LED supply chain, the pandemic caused a price hike across various materials, such as metals and LED chips required for lighting LED manufacturing last year. Faced with the upward pressure of prices in their upstream supply chains, certain suppliers of lighting LED products were subsequently forced to maintain their bottom lines by raising prices accordingly on lighting LED products, which had been sold at excessively low retail prices. On the whole, however, despite the price hike across various upstream components, suppliers of lighting LED products are still actively improving their products performances, including luminous efficacy and color saturation, and releasing products that fulfill the demand of post-pandemic applications in order to secure their market shares and competitiveness. Some examples include outdoor atmospheric lighting LED products from OSRAM and Lumileds, as well as horticultural LED products from CREE LED for indoor horticulture and plant factories.

Read more:
Price Hike of LED Lighting Products May Boost Revenue - Novus Light Today - Novus Light Technologies Today

Four years ago, the vertical farming startup Bowery opened what it called the first post-organic farm, growing pesticide-free leafy greens inside a warehouse in New Jersey. Now its products are in 850 stores, and the company just announced a new $300 million round of funding. Has indoor farming reached a tipping point?

The business model is feasible now, says venture capitalist Hans Tung, a managing partner at GGV Capital, one of the investors in the new round and an early investor in the startup. Lighting is one of the biggest expenses for indoor farming, but the cost of ultra-efficient LED lights has fallen steeply over the past decade. Automation has advanced enough that its cost-effective to do much of the work inside an indoor farm with robots. Software to manage complicated growing systems has also advanced. A combination of software, hardware, and the price of key inputs [can] make it affordable, he says. Otherwise, its too expensive.

[Photo: courtesy Bowery Farming]Growing food in a warehouse has some advantages over traditional agriculture. With crops in stacked trays or planted on vertical walls, many more plants can fit in the same footprint. LED lights tuned to shades of pink or purple help plants grow faster and can be tweaked to change the nutrition or taste. Because the plants are in a controlled environment, no pesticides are needed, and with no limitations from the seasons or weather, crops can grow year-round. Instead of growing greens in drought-prone states like California and Arizona and then shipping them to the East Coast, its possible to use a hydroponic system with 95% less water and deliver produce the same day its picked. (The system also has some disadvantages, including the energy needed for lights instead of sunshine, though its possible for indoor farms to use renewable electricity.)

[Photo: courtesy Bowery Farming]Other companies in the space are also growing. Gotham Greens, for example, which has a different farming model with greenhouses that use natural light, recently raised an additional $87 million to continue its expansion. Bowery isnt the only company in the space to get a huge infusion of cashSoftbank led a $200 million investment in Plenty, a Bay Area-based startup, in 2017. Both Plenty and Bowery use complex, expensive robotics and AI to run their farms; neither will share financial details about how challenging it is to profitably sell spinach with such a capital-intensive approach. But Tung says it can work. Based on their productivity and efficiency, we definitely see a path of being profitable, he says. (Right now, Bowery charges a price it says is comparable to organic greens grown in the field, though it aims to eventually compete with conventionally grown produce.)

[Photo: Chelsea Kyle/courtesy Bowery Farming]Vertically farmed greens are becoming widely available in some markets. If you pull up Instacart to order groceries from Safeway in the Bay Area and search for kale, Plenty shows up. In some East Coast cities, Bowery is in stores from Whole Foods to Walmart; the company says that it has seen 750% retail growth since January 2020. Bowery also sells in Tom Colicchios Craft restaurants (Colicchio is an investor) and plans to expand that part of its business. While vertical farming companies focus on selling greens now, theyre also preparing to sell other types of food. At Bowerys R&D farm, for example, researchers are testing strawberries, tomatoes, peppers, and multiple other crops.

[Photo: courtesy Bowery Farming]It will never be a full replacement for traditional farming, says Bowery CEO Irving Fain. Some crops, such as corn and wheat, dont make economic sense to grow indoors. But he thinks that this type of agriculture will be an increasingly important part of the system. Agriculture is the largest consumer of resources globally, he says. Seventy percent of the worlds water every year goes to agriculture. We put about a billion pounds of pesticides down just in the U.S. every year, 6 billion globally. And because of the way we farm and just the chemical intensive nature, weve lost 30% of all of our arable farmland. You juxtapose that against a growing population: Were going to have somewhere between 9 and 10 million people on the planet in the next 30 years. And you need more food to feed a growing population.

At the same time, he says, its getting harder to grow food outside as climate change makes it more likely that farms face droughts, heat waves, flooding, and other disasters. Corn and wheat and other crops that likely dont make sense to grow inside will have to find other solutionssuch as new varieties that can better resist drought, for examplebut for some foods, vertical farming could help fill a gap. How do you build a resilient and durable supply chain in the face of an increasingly dire climate crisis and a growing population? Fain says. Change is needed. There has to be a better system. That recognition is happening from consumers, that recognition is happening from retailers and other partners. And thats filtered down now, in a great way, to investors who are interested in agriculture technology in general.

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Is indoor farming about to have a moment? - Fast Company