Orion Energy Systems Inc., a Manitowoc-based provider of energy efficient LED lighting and electrical installation and maintenance services, has entered the growing electric vehicle charging station market with the acquisition of Voltrek, LLC, an electric vehicle charging station business in Lawrence, Massachusetts.
Voltrek, which reported nearly $5 million in revenue in 2021 predominantly from New England projects, was founded in 2010 and provides charging station planning, installation, maintenance and management services. The company counts more than 3,500 charging ports under management, and is an installer for National Grid’s and Eversource’s Make-Ready programs, which help businesses cut down on charging station costs and convert fleets to electric.
Orion (Nasdaq: OESX), which was founded in 1996 and went public in 2007, will operate Voltrek as an independent brand within the company. The companies did not disclose the financial terms of the deal.
Click here to read the full article.