The new contracts include $7m for the installation of its IDG smart grid power systems for customers including hospitals, municipal water systems, educational facilities, and retailers.
The new LED lighting awards total $3m that consist primarily of an order from a major US retailer to begin retrofitting refrigerated cases with EfficientLights energy saving fixtures.
Of the $10m of new business, $8m relates to turnkey product sales of IDG Systems and LED lighting products.
The company expects this $8m of turnkey revenue will be recognized primarily during the first three quarters of 2011.
The remaining $2m of new business relates to recurring revenue contracts for IDG systems.
These systems are expected to be installed during the first half of 2011, and the revenues are expected to be recognized over a fifteen year period.
