HOUSTON, May 17, 2018 /PRNewswire/ -- CUI Global, Inc.
(NASDAQ: CUI) announced today that its wholly-owned Energy
subsidiary, Orbital Gas Systems Ltd. ("Orbital UK" or the
"Company"), was awarded a second contract valued in excess of
$500,000 for a biomethane-to-grid
unit by a major European industrial company. Orbital U.K. was
awarded its first contract by the customer, an operator of
biomethane-to-grid plants throughout Europe, in February
2017. The new contract calls for the provision of one
biomethane-to-grid unit to be delivered in 2018.
This latest award underscores Orbital U.K.'s long-standing
partnership with the customer that is founded in the customer's
audit and assessment of Orbital U.K.'s technical, innovation, and
support capabilities, as well as Orbital U.K.'s successful prior
delivery of two biomethane-to-grid units and its reputation for
project excellence – including a 100% success rate in meeting
delivery deadlines – within the industry. The award confirms the
Company's world class design, manufacturing, and technical support
capabilities and facilities.
Orbital U.K. has seen the industry's interest in its biomethane
solutions increase following the recent certification of its GasPT®
analyzer by the U.K. regulator, Ofgem. The award also comes days
after Orbital U.K. conducted an Open House/Work Shop to promote its
GasPT and GasPTi technology for biomethane and other applications
to leading U.K. energy industry participants.
Orbital U.K. president Paul D.
White stated, "Receipt of this order represents continuing
recognition from one of Europe's
largest industrial companies of Orbital U.K.'s technical expertise
in the field of biomethane-to-grid solutions. Our track record of
achievements, world class facilities, as well as our ability to
problem solve complex matters and innovative technologies have
allowed us to develop this relationship. We look forward to
expanding our footprint in the biomethane market with this and
other customers as this exciting new alternative energy market
develops."
CUI Global President & CEO William
Clough commented, "Accelerated by growing government and
industry support, the U.K. and western European countries are
moving further away from traditional fossil fuel energy and towards
more environment-friendly alternative energy sources. The
recent certification of GasPT by Ofgem, our Open House/Workshop
event, and our ongoing business development efforts position us to
capture market share in the growing biomethane-to-grid industry
that serves as practical and timely alternative to fossil fuels.
Our expertise and unique ability to provide relatively
inexpensive, low-maintenance analytic solutions puts us in an
excellent position as this industry and demand for our services
grow."
About CUI Global, Inc.
Delivering Innovative
Technologies for an Interconnected World . . . . .
CUI Global, Inc. is a publicly traded company dedicated to
maximizing shareholder value through the acquisition and
development of innovative companies, products and technologies.
From Orbital Gas Systems' advanced GasPT platform targeting the
energy sector, to CUI Inc.'s advanced power platform serving the
networking and telecom space, CUI Global and its subsidiaries have
built a diversified portfolio of industry leading technologies that
touch many markets. As a publicly traded company, shareholders are
able to participate in the opportunities, revenues, and profits
generated by the products, technologies, and market channels of CUI
Global and its subsidiaries. But most importantly, a commitment to
conduct business with a high level of integrity, respect, and
philanthropic dedication allows the organization to make a
difference in the lives of their customers, employees, investors
and global community.
For more information please visit www.cuiglobal.com
About Orbital Gas Systems
Orbital Gas Systems, (Orbital) has offices located in the
United Kingdom and Houston, Texas. For over 30 years,
Orbital has developed its portfolio of products, services and
resources to offer a diverse range of personalized gas engineering
solutions to the gas utilities, power generation, emissions,
manufacturing and automotive industries. Orbital's
internationally recognized expertise in the natural gas industry,
including bringing together the patented VE Technology® with
the ground-breaking GasPT device, offers natural gas operators and
users a comprehensive engineering array for the next generation of
energy metering systems. Orbital is a wholly owned subsidiary
of CUI Global, Inc.
For more information, please visit www.orbitalgas.com
Important Cautions Regarding Forward Looking
Statements
This document contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements are subject to risks and
uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The company
may experience significant fluctuations in future operating results
due to a number of economic, competitive, and other factors,
including, among other things, our reliance on third-party
manufacturers and suppliers, government agency budgetary and
political constraints, new or increased competition, changes in
market demand, and the performance or reliability of our products.
These factors and others could cause operating results to vary
significantly from those in prior periods, and those projected in
forward-looking statements. Additional information with respect to
these and other factors, which could materially affect the company
and its operations, are included in certain forms the company has
filed with the Securities and Exchange Commission.
Media
Contact:
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Outside IR
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CUI Global
Inc.
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LHA
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Jeff
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Jody Burfening/Sanjay
Hurry
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503-612-2300
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212-838-3777
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Press@cuiglobal.com
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cuiglobal@lhai.com
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