HOUSTON, Jan. 9, 2017
HOUSTON, Jan. 9, 2017 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom (UK) energy subsidiary, Orbital Gas Systems Ltd., (Orbital), the leader in innovative gas measurement solutions, has been awarded contracts for integration natural gas analysis and metering infrastructure totalling $1.75 million by a client operating several large-scale manufacturing plants in Europe.
The scope of work includes provision of fiscal metering skids, pressure reduction skids, fuel gas skids, electrical distribution and control buildings, gas quality measurement, supervisory and flow control systems at the client's UK operation.
Neil Stuchbury, director of sales at Orbital, said, "The contract awards were the result of many months of technical and commercial engagement, which enabled our client to attain significant value from Orbital's in-house integration capabilities and industry experience, reducing client project delivery timelines as well as technical and commercial risks."
Orbital's solution includes high-pressure temperature measurement and natural gas sampling, incorporating Orbital's VE Technology, which delivers fast and accurate sampling of gas for gas quality purposes. VE Technology ensures samples are presented to analysis equipment in near real-time, delivering unrivalled metering performance. Harmful methane emissions to atmosphere are also reduced.
Richard Law, managing director at Orbital, added, "These contract awards mark the growth of a new, long-term partnership with a client that recognizes the value of Orbital's technical know-how and experience in gas measurement."
CUI Global's president & CEO, William Clough added, "With the start of 2017 CUI Global reinforces its ability to win and deliver large scale, multi-million dollar projects that highlight our proven track record and the industry's continued adoption of our novel technologies, such as the VE sampling systems. These unique technology products, coupled with our world class delivery capability, enable our strategic plan to partner with industry leaders; to drive greater adoption of our products; and to increase market share."
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 GasPT2 platform targeting the energy sector, to CUI Inc.'s digital 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.
Orbital Gas Systems (Orbital), a CUI Global Company, is the leader in innovative gas solutions, having more than 30 years of experience in design, installation and the commissioning of industrial gas sampling, measurement and delivery systems. Operating globally to energy, power and processing markets, Orbital manufactures and delivers a broad range of applications including environmental monitoring, gas metering, process control, telemetry, gas sampling and bio-methane to grid.
For more information please visit www.orbitalgassystems.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.
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SOURCE CUI Global, Inc.