I certainly wouldn't want to pay the lighting bills for companies like GE (NYSE: GE), Kraft Foods (NYSE: KFT), or Toyota (NYSE: TM).

But, there's a company that does: Orion Energy Systems. That is, it designs and installs energy management systems for lighting.

And, now Orion Energy wants to light up things with an IPO.

The company uses something called high intensity fluorescent (HIF) lighting. It not only reduces electricity costs by 50% but also increases the quantity of light by 50%.

The growth ramp has been particularly strong. From fiscal 2004 to 2007, revenues increased from $12.4 million to $48.2 million. In fact, Orion estimates that it has saved its customers about $224 million (an indirect benefit has been the reduction of carbon emissions).

The technology is certainly complex and Orion has a portfolio of 16 US patents. There are nine patents pending.

The lead underwriter on the IPO is Thomas Weisel Partners LLC and the proposed ticker symbol is "OESX."

You can find the prospectus at the SEC website. Also, if you want to see more IPO filings, click here.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.