Lighting business, we specialize in retrofit lighting. So what that really means is that the products that we manufacture and install are going in situ to help customers in their operating spaces lower their energy consumption versus selling new products, which we also do for new builds. EV charging is a relatively new segment for us. We acquired a company outside of Boston, Massachusetts, about two years ago called Voltrek, and this is a rapidly growing business for us. We'll talk about it more moving forward, but we're pleased with the results there. And we just released our quarter two results and showed 40% growth in this business for the past quarter. The last segment that we have is a lighting and lighting electrical maintenance business.
This business is clearly a service business, and it was started at the request of our number one customer, a customer who we did a significant retrofit with, which I'll get to in a minute. Following the conclusion of the retrofit, they asked us to stay on because they saw the capabilities that we had in the area of lighting and electrical in general and asked us to maintain their stores. So we originally started an organic build business to do that and then later acquired some assets to help us. In terms of market served, we're 100% commercial and industrial. Our subverticals, our largest subverticals, are industrial manufacturing, commercial office. Retail for us typically means big box retail. Automotive, we do a significant amount in both the manufacturers, the OEMs themselves, as well as dealerships.
Logistics and warehousing, we work with some of the largest logistics and warehousing companies in the U.S. and around the world. Healthcare typically is hospitals. Agriculture is a bit of a legacy carryover from the founding of the company in Wisconsin, so that's dairy. And then public sector, we're doing more and more work in. We just concluded a $9.6 million project in Germany for the Department of Defense, where we did several bases for them there. We do work both at the state, local, municipal, university, and school area under public sector, so the municipal market. One of the things, again, that's unique about us is we have several paths to market. So starting at the bottom, this is the typical path for most lighting companies selling through agents and distributors.
We do that, but again, still for us, that's more around projects and retrofit projects rather than new build. ESCOs are energy service companies, and so those companies are in business to help other companies reduce their energy consumption. Lighting is one portfolio that they use, and so we work with partners in that space where we largely provide product to them. And lastly, and most uniquely to Orion, is that we do offer customers very large, complex, typically publicly traded customers full turnkey services. And so that means that we will do everything from assessing their needs, auditing their facilities. We will custom manufacture products for them. We will oversee the installation, commissioning, and then obviously be there for warranty and maintenance as well if needed. We have four different revenue streams as a result of all of that in our business model: product, our services, maintenance, and EV.
We're fortunate. We believe we have some very strong macro environmental factors that are going to give us some tailwinds for the years ahead. Number one, energy prices, while they can be a bit volatile and move up and down directionally, they're going to continue to increase from our view. Climate and ESG can be a little polarizing in some circles, but ESG is still motivating publicly traded companies, and we like those commitments because those are C-level commitments, so those stick. The EV revolution, while it's maybe not going to live up to some of the earliest projections in terms of the rate of change, it's still significantly growing, and one of the things where we come into play is on the EV charging infrastructure. All of that infrastructure is still required, really, regardless of the rate of EVs. We've passed the threshold where there's critical mass.
So the infrastructure is required nationwide, and there's been a lot of government funding to help support that. On the regulatory front, for the first time ever, there's state-led requirements now that companies have to change from fluorescent technology to LED. In the past, the argument has always been around return on investment and showing companies that they can save energy and save costs by moving to LEDs. Now there's 11 states out there which have either bans in place or are in the process of implementing bans, most notably California, where we're at today. Their ban goes into effect January of 2025. So to be clear, police aren't going to show up if you have fluorescent in your building, but you will no longer be able to buy fluorescent fixtures and replacement tubes in those states. Therefore, you're going to have to convert to LED.
So we feel really good about that. We've seen great motivation for some of our large public company customers to begin to accelerate their conversion footprint. Federal funding has been flowing into our space, both most notably on the EV side. LED penetration nationwide, we think we're about 40% penetrated from fluorescent to LED in the commercial and industrial arena. Obviously, the state bans that I mentioned are going to help accelerate that. And one thing I will say is the 40% that's been converted, some of that took place in the early days. Today's technology of LED is about 30%-40% more efficient than the first generation of LED lights. And also the useful life of some of those products has completed. And so we can actually go back and relight, re-LED customers as well.
Lastly, being a domestic manufacturer, having a facility in Wisconsin where we're based out of, we have products which comply with both Buy American Act, and that's selling directly to the federal government, and the BABA, which is a higher standard, which unleashes federal funds for schools and municipalities. We have product lines that comply with both of these through our facility in Wisconsin. Just briefly on the businesses, so lighting we've done over, I think it's up to 30,000 projects at this point. As I mentioned, 100% commercial and industrial focused. We focus on both interior as well as exterior applications, multiple go-to-market models with a lot of repeat clients. Even though each one is a unique project, we have clients that we do projects for every year. On the maintenance side, it's lighting and light electrical maintenance, both preventative and reactive.
These are typically three-year contracts for us, which is great. We get some recurring revenue out of that, and we also do special projects as well. On the EV charging front, we do primarily turnkey installation. So again, this is a lot of service work. We'll go out, assess a client's needs, understand what they're trying to achieve, do a site visit, audit their facility, understand where the power is, design the solution for them, oversee the installation and commissioning of that infrastructure. Our two leading providers of equipment on this side, so we do not build charging equipment. We basically work with leading providers. ChargePoint and ABB are our top two, and we exclusively focus on Level 2 and DC Fast Charge Level 3 systems. We have national execution capabilities, and we do have some networking and maintenance recurring revenue, which comes from that.
Part of our thesis about getting into EV charging was we work with a lot of marquee customers, and a lot of them began talking to us about EVs because they look at us as an extension of their electrical team and their facilities team, and so we see a lot of opportunities over time to cross-sell the lighting platform with the EV platform. A little bit more about us, how we achieve our mission, and in general around lighting. Typically, our clients should expect a one- to four-year payback on their lighting systems moving from fluorescent to our LED systems. We believe the highest lumens per watt or highest efficiency performance in the industry, so if you think about it, lumen is a measure of light. That's the metric for light. Watt is the metric for energy.
So the more lumens or light you generate for a watt of energy consumed, the more efficient you are. And that's really been our focus since day one. We have a 266,000 sq ft manufacturing facility, as I referenced in Wisconsin. We have the interior line, exterior line, and we've launched a new contractor-grade line to reach lower price points that we have in the past that give us more essentially add-ons to projects that we can either close profitably at that level or trade up to our legacy product. These are examples, obviously logos that we all recognize. These are customers. A lot of these are repeat customers. You see retailers on there, manufacturers on there, automotive companies on there, Department of Defense, other government agencies. United States Postal Service is an example. So this is just a representative sample.
This is a case study for our largest customer. They're a large big box retailer, someone that we all go to frequently. They have over 2,000 stores in their network overall, and we updated those or did a retrofit for them, doing up to 30 sites per week. Their problem was they wanted to meet their ESG targets moving forward for carbon reduction, and they wanted to improve their in-store shopping experience. It was a $250 million project, which we completed for them. It paid back for the client in less than a year and a half. It was pretty significant for them, both financially as well as from an ESG perspective. It met all their goals, and they still are a number one customer even despite us concluding this project because of other projects we get from them, as well as the maintenance business.
I already referenced this, BABA and BAA. One of the other things that we pride ourselves on is that Orion tends to be the lowest lead time manufacturer in the industry. We do that because we keep a lot of common components, and then we specialize those into finished goods at the last possible moment. So we can respond quickly. Even during the supply chain crisis coming out of COVID, where most manufacturers in our industry were out 12-20 weeks, we maintained our two to three-week lead time. These are examples of products that we would make. These little medals underneath here are meant to signify kind of where we fall in the industry from a lumens per watt or efficiency standpoint. So this is representative of our interior offering.
You see a lot of high-bay lighting that you would see in a warehouse here or troffers that you would see in an office, and then this highlights kind of the outdoor and wet room. Wet room can be used in food processing, parking decks, those types of structures, and then obviously the exterior of the buildings. We do a lot with sensors and controls, so sensors and controls, if you think about that, walking into a room, the lights go on. That's basic on-off dim. They can do a lot more than that. They can be remotely controlled. The lumens can be set remotely through IoT systems. They can also be gathering data around their space.
As an example, from a retailer's perspective, full IoT capability would allow them to be able to draw heat maps of where consumers are in their stores at different points in the day, etc. So there's a lot that can be done here. We have capabilities. In fact, we have an in-house commissioning team that we leverage for our number one customer that is capable of commissioning really almost any sensor platform out there. So we don't have a proprietary sensor. We want to be an integrator of best of breed technology and then help customers integrate that into their building management systems where needed. This is going to be a growing area through AI over time about these sensors and controls in lighting and energy management. So turnkey capabilities. This is just a graphic of what that looks like.
Again, it starts with a facility audit, moves to design, manufacturing, installation. One of the things that's significant in our industry, both lighting and EV, is rebates or in EV, they're called grants. And so we help clients work through that to make sure that they're getting the best return on investment they possibly can. Obviously, we'll oversee the installation, and then we're there for warranty and maintenance. I spoke a little bit about the market, the adoption. We think we're about 40% of the way through the curve initially. And again, that doesn't include the opportunity to go back and re-LED some of the customers who were early adopters 10, 15 years ago of LED technology. On the maintenance side of the business, so I mentioned earlier, we do preventative as well as reactive. Preventative, as you would expect, is scheduled maintenance.
So our customers, we might be on a twice-a-year, quarterly visit, something like that in their locations. Reactive, as its name implies, is something goes down, we have to respond immediately. And so we have programs with these. These are typically retail customers who are on these programs. They don't have staff in their stores to handle this kind of maintenance. And so that's really the business model. It's really a bolt-on to our lighting business for key customers. These are some of the customers that we've worked with on the maintenance side of our business. Again, very well-established public retailers, which you're all familiar with. On the Voltrek side, so as I mentioned, we acquired this platform company in October 2022. It was founded by a very early EV pioneer, Kathleen Connors, who's still with us today running the business, which is great. It's a turnkey business model.
I also referenced earlier ABB and ChargePoint. We have over, I think we're up to 5,000 charging points under management at this point in time. The business was started in Massachusetts, so its customer base is largely. This slide represents the legacy customer base that's there. We certainly have expanded that now. I believe we've done business in around 32 states through EV installations since we acquired Voltrek. Again, we work with a variety of equipment providers, and if a client has a certain technology company that they'd like us to work with, we're capable of doing that. We've all seen the graphs of what EV is supposed to be in our future. This is maybe one of the latest ones that I pulled from Bank of America, which still shows a significant increase moving forward.
Again, maybe not the curve from two years ago, but still a very steep curve increasing. And again, we're not in the EV business. We're in the EV charging infrastructure business. So what's required to support any level of EVs at scale is charging equipment. And that's where the federal government has put some money through the NEVI funds, which I believe is on my next slide. The government appropriated $5 billion of funding to provide DC fast charge infrastructure to support the interstate highway system as well as underserved areas. More monies and appropriations are coming through states and utilities. Massachusetts, as an example, has put in through their Eversource program, $300 million-$400 million. So there's a lot of money out there through state governments. And also companies are looking to electrify their fleets.
And so there's significant opportunity moving forward we see to cross-sell this again, cross-sell maybe Level 2 systems for companies to put out for their employees, for their guests, etc. And then Level 3 systems, which are the fast charge systems, if they electrify their fleets. This is an example of what a DC fast charge system might look like. We did this for Boston Public Schools. They were electrifying their buses. So they electrified 20 out of their 100 buses. And so we put this in. This is a Level 3 fast charge system. It was a $1.5 million project that we completed. From an ESG standpoint, sustainability standpoint, certainly this is in our DNA. We walk the talk. I think we do it very responsibly. From an environmental standpoint, we do have site-produced renewables that we consume for our energy, a fair amount of it, about 20%.
From a social standpoint, very active. We are a female-friendly workforce, but way over the typical U.S. manufacturer, and 60% of our outside directors are also female, and from a governance standpoint, we are an SEC company and have all the compliance elements to that, as you would expect. We have a full sustainability brochure online that's updated annually, where you can see our impact in all these areas and more. It gives you a little deeper flavor about the company and our culture, so please look that up if you're interested. Lastly, revenue and financials, so this past year, we did about a little over $90 million, $90.6 million. Our guide for this year is 10% above that, and we were adjusted EBITDA positive in the second half of last year. We're looking to be about break-even at that level for this year. So with that, I'd be happy to take questions.
Mike, can you talk about who your closest competitor is on the LED side and what your advantage is?
So again, I think we have various go-to-markets, I would say, from a manufacturing standpoint. Acuity is the biggest company that's out there. Certainly, we run into Acuity. There's other private, smaller kind of second-tier companies that are out there that we run into. And we also run into Asian imports as well. I think the way we differentiate ourselves, as I mentioned, is we're in several different go-to-markets, and we're in higher value-added go-to-markets. So the full turnkey business model is about adding services to our customers so that we help them maximize not only their ROI, but the outcomes of the project. And we do it in a way that makes it easy and simple for our customers.
How big is the maintenance business, and is it profitable?
Good question. The maintenance business is one that last year was not profitable. We restructured that business going into this year. We shed about $5 million worth of contracts under that and are looking to turn that profitable, and it is producing positive gross margin at this point.
But is it 10%-20% of the revenues, or do you think that's still?
No, we would expect it this year to be probably somewhere around 10%- 15%.
Someone on that point, is all of your maintenance self-perform, or do you [contract that out to subs? How does that work]?
Yeah. So it's both on the maintenance front. Well, we do have some capacity of our own techs in high-density markets. The name of the game in maintenance, because you're going to a lot of different locations, and it's a relatively lower ticket than a retrofit would be, is density. So where we have density, we will put our own people in place. Largely, we operate with third- parties to do that work, just like we do on the turnkey side. So our value proposition there is managing the project, understanding the account needs, and giving our accounts basically a single point of accountability for it.
So getting back to his question, I mean, you've emphasized a lot the fact that you're a market leader in efficiency on the LED side of the business. But you don't manufacture the light source, right? Do you just do the, I'll call it, packaging around the light source? So how do you become a market leader in efficiency, and why isn't that your competitive advantage?
We design all of our products, so we don't take anything off the shelf from anybody. We manufacture ourselves. If you're talking about the light source, you're talking about the modules, the LED modules themselves. So we don't manufacture the modules themselves. They're manufactured to our specifications. And so the way the chips are deployed, etc., that's where the engineering comes in. And it's also how you leverage modules with lenses, etc., to generate that level of efficiency.
Got it. But to be clear, you don't think that customers seek you out because of that, or do they?
No, I think they do. Yeah, I do. We were the first ones to cross the 200 lumens per watt threshold for lighting. As far as I know, we still have the highest performing product in the industry at 215. Yes sir.
So if you're the best player and you break even, I assume your competitors are losing money, or do they somehow make money while you don't?
I think it's all over the place. I think some of our competitors don't make money. Some of them, like Acuity, obviously with that level of scale, makes a lot of money. Certainly, with any business, there's a fixed cost threshold that you have to overcome. We think that at the level that we're projecting for this year, we'll overcome it.