TUALATIN, Ore., Feb. 22, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom energy subsidiary, Orbital Gas Systems Ltd. ("Orbital"), has delivered the first of its GasPT® analyzers to Europe's largest natural gas transmission company, Snam Rete Gas ("SRG"). This first delivery of 50 units is pursuant to a recently announced purchase order for 400 devices, including 65 high pressure installations and comes after several years of intensive durability and accuracy testing; certification by relevant European Union authorities; and a thorough, independent test protocol conducted by The University of Milan on behalf of SRG.
SRG is part of the Snam Group, one of the most respected natural gas infrastructure companies in the World and Europe's leading company in terms of regulated asset base (RAB). SRG is also Europe's largest pipeline company, managing over 33,000 kilometers of pipeline. Its strategic geographic location and its 70-years' experience in the natural gas industry makes it a perfect customer to showcase the dynamic nature and value of the GasPT analyzers. Orbital and its Italian Distributor, SOCRATE S.p.A., look forward to a long term, mutually beneficial relationship with SRG.
"Delivery of these units is the first step in this transformational project for the Company," explained William Clough, CUI Global's president & CEO. "We are very proud to be involved in this large scale deployment of our technology and we are especially proud to be partnered with a great customer like Snam Rete Gas."
"This initial delivery of the GasPT analyzers to Snam Rete Gas is a continuation of the long-term relationship between SRG and SOCRATE," stated Nicola Giorgio Sorrentino, CEO of SOCRATE. "This particular project is only made possible by the unique nature of CUI Global's GasPT analyzer and its ability to cost-effectively and efficiently monitor natural gas quality in the pipeline."
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.
About Snam Rete Gas
Snam Rete Gas is the leader in Italy in the transport and dispatching of natural gas, where it features excellent skills in terms of technology, research and safety.
Since seventy years the company has been planning, building and managing a network which today reaches round 33,339 km and extends across most of Italy: an integrated system which has been realized by safeguarding environment and territories it passes through. The extension of this network also includes environmental restorations, an activity which is peculiar of the company's sustainability policy.
Snam Rete Gas is a company of Snam, an integrated, top player in gas regulated activities in Italy and Europe's leading company in terms of regulated asset base (RAB). Listed on the Milan Stock Exchange, Snam operates in natural gas transport and dispatching through Snam Rete Gas, re-gasification through Gnl Italia, storage through Stogit and city distribution through Italgas.
For more information, please visit www.snamretegas.it.
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.
SOURCE CUI Global, Inc.