CUI Global Announces Award of National Grid Contract for Delivery of Gas Quality Analytical Equipment to Strategically Important Natural Gas Import Terminal
TUALATIN, Oregon, July 7, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom ("UK") energy subsidiary, Orbital Gas Systems Ltd. ("Orbital"), has successfully been awarded a $850,000 project to design, manufacture, and install gas quality analysis equipment at one of the major UK National Transmission System (NTS) import terminals within the National Grid Network.
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National Grid is an international electricity and gas company based in the UK and North East United States. National Grid plays a vital role in connecting millions of people safely, reliably and efficiently to the energy they use. National Grid employs 8,900 people in their gas and transmission business, operate 7,660 km of high pressure pipeline in the UK and are connected to 10.9 million customers in their gas distribution network.
This Orbital project involves the upgrade of critical analytical equipment at a major gas transmission terminal within the UK. This equipment determines whether the natural gas quality meets the legal limits set out by the UK Health and Safety Executive and can therefore enter the UK National Transmission System.
Orbital's UK Sales Director, Neil Stuchbury, commented, "This is an example of how industry leaders such as National Grid choose to trust Orbital with critical assets. This site in particular manages a large portion of the gas demand within the UK and is therefore of Strategic National Importance."
CUI Global's president & CEO, William Clough, added, "Award of this project to Orbital continues our partnerships with large, highly-respected natural gas companies in regard to operating their most important facilities. This latest project displays our continued commitment to assist with critical national infrastructure and will be a part of our growing success for many years to come."
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.
About Orbital Gas Systems Ltd.
Orbital Gas Systems Ltd ("Orbital-UK") is the largest natural gas systems integrator in the United Kingdom. For over 30 years, Orbital-UK 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-UK's internationally recognized expertise in the natural gas industry, including bringing together the patented VE-technology® with the ground-breaking GasPTi device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital-UK is a wholly owned subsidiary of CUI Global, Inc.
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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