TUALATIN, Ore., Oct. 1, 2015 /PRNewswire/ — CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned UK energy subsidiary, Orbital Gas Systems Ltd., has successfully delivered the first three mercury detection units to a large liquid natural gas (“LNG”) project under construction in Australia. The units, valued at almost £300,000 ($450,000 USD), use Orbital’s proprietary VE Technology® sampling system to provide a fast and uniquely accurate method of detecting trace elements (like mercury) in the LNG process.
The company can also confirm that it has now delivered two redundant GasPTi systems to a large Asian natural gas turbine operator. These units are part of a pilot program to determine a potentially much broader deployment of the technology by this customer for process control of its large-frame power generation turbines worldwide.
Such a deployment for gas turbine process control is based on the GasPTi’s unique ability to provide the operator with almost real time data on which to base changes to the turbines fuel-air mixture, ignition temperature, and timing. Such machines, which can often cost tens-of-millions of dollars, are very sensitive to changes in fuel quality and accurate, timely data can result in reduced fuel costs, greater efficiencies, and reduced emissions. According to industry experts, the demand for such power generation units is expected to increase year-over-year by almost 8% to $22.3 billion in 2016. Besides the demand for new units, there are thousands of existing gas turbines in operation around the World, many of which could benefit from the efficiencies and costs savings provided by the GasPTi units.
In addition, the company reports that Orbital is about to deliver its 13th bio-methane terminal within the last 12 months and its 15th overall since installing the very first UK bio-methane terminal in Didcot, Oxfordshire. The company has also completed installation of its IRIS remote telemetry unit into the most complex above-ground site in the United Kingdom’s gas transmission system, leaving it with orders for ten more installations between now and First Quarter 2016.
CUI Global’s President & CEO, William Clough commented, “Successful delivery of these trace element detectors is a dramatic step forward in recognition of the capabilities provided by our VE Technology. That technology, which was initially coupled with our GasPT analyzers, provides extremely quick, pure gas samples allowing for very accurate detection of trace elements like mercury in the gas. In addition, the patented helical fins prevent vibration of the sample probe; thus, increasing pipeline and probe life expectancy.”
“The delivery of the Asian GasPTi units gives us the opportunity to provide our GasPTi solution to yet another large operator of gas-fired power generation turbines for control processing. Moreover, continued interest in, and sales of our bio-methane and IRIS solutions should provide ongoing revenues to our gas integration division. We continue to work closely with our European integrated natural gas transmission customer on securing initial purchase orders for our GasPT product line and still anticipate that the customer will award purchase orders to selected companies later this year,” Clough concluded.
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 25 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.orbital-uk.com or www.orbitalglobalsolutions.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.