The program agreement is aimed at making energy efficiency finance more easily available and affordable for companies who desire to benefit from the energy cost savings delivered through Orion’s energy management products.
The company said the agreement differs from recent debt financings that Orion has completed, providing for the transfer of asset ownership directly to De Lage Landen.
Orion CEO Neal Verfuerth said the agreement further enhances Orion’s OTA finance strategy and its commitment to align with finance service providers.
"De Lage Landen recognizes the compelling opportunity around energy efficient solutions and the enormous financial benefits that can be delivered to energy users," Verfuerth said.
Orion Scott Jensen said CFO said the relationship allows the company to focus on its core competency of developing and integrating energy efficient products on behalf of its customers and shifts the financing responsibilities to an industry leader in that field.
