CUI Global Announces First Retail Sales of its Vergence™ GasPTi Combined Analyzer in The Netherlands
TUALATIN, Ore., June 25, 2012 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced it has received its first retail sales orders for the Vergence™ GasPTi combined natural gas analyzer. The units, ordered by DNV KEMA in the Netherlands, are being installed at Gasunie field test facilities. This follows successful laboratory testing of the GasPT2 devices by DNV KEMA in its Netherlands Facility.
In a world of increasing demand for energy, DNV KEMA (www.kema.com) plays a major role in ensuring the availability, reliability, sustainability and profitability of energy and related products and processes. KEMA combines unique expertise and facilities, in order to add value to their customers in the field of risk, performance and quality management.
For its part, Gasunie (www.gasunie.nl) is a European gas infrastructure company. With annual gas throughput totals of approximately 125 billion cubic meters, Gasunie offers transport services via its subsidiaries Gas Transport Services B.V. (GTS) in the Netherlands and Gasunie Deutschland in Germany. Gasunie also offers other services in the gas infrastructure field, including gas storage and LNG.
The GasPTi analyzer combines the Vergence™ GasPT2 device in a weather-proof housing with gas conditioning, pressure regulating, and associated equipment needed to make the device a "plug-and-play" solution for the natural gas operator. The combined device is truly "field ready" and largely maintenance free. The GasPTi device is produced by CUI Global in conjunction with Orbital-UK.
As explained by Andrew Ridge, Orbital-UK's Managing Director, "The combination of CUI Global's Vergence Technology with our VE-Probe in the GasPTi Natural Gas Analyzer creates a unique and revolutionary method of almost instantly and accurately determining gas quality in a cost efficient manner previously unavailable to the industry. We at Orbital are very excited about the new device, the opportunity it creates for us in the natural gas industry, and our partnership with CUI Global."
CUI Global's president & CEO, William Clough, commented, "By continuing to partner our Vergence Technology with industry leaders like Orbital-UK to service such respected energy providers as KEMA and Gasunie, we continue to prove the viability and value of our GasPT2 device."
"We believe that these retail orders and continued testing and validation by such industry stalwarts can and will enhance our penetration into these markets for the Vergence devices," Clough concluded.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global is a publicly traded platform company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products, and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc.'s industry leading digital power platform targeting the networking and telecom industries, CUI Global has 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. CUI Global prides itself on operating with the same level of integrity, respect, and philanthropic dedication that was put in place by CUI Inc.'s founder more than 20 years ago. It is these values that allow the company to make a difference in the lives of their customers, their community, their employees, and their investors. Recently, a move was made to merge and streamline resources with its subsidiary CUI Inc. in order to create a unified, international brand that now positions CUI Global for further strategic expansion.
About CUI Inc.
CUI Inc. is a technology company dedicated to the development, commercialization, and distribution of new, innovative electro-mechanical products. Over the past 20 years, CUI has become a recognized name in electronic components worldwide in the areas of power, interconnect, motion control, and sound. CUI's solid customer commitment and honest corporate message are a hallmark in the industry. CUI is a wholly owned subsidiary of CUI Global, Inc.
Orbital is a specialist gas engineering company, delivering integrated instrumentation and engineered solutions to the gas utilities, industrial process and environmental industries. In the past 25 years we have grown from being a small specialist subcontractor, into one of the largest system integration providers in the UK industrial gas market. Over the last 25 years, Orbital have developed a portfolio of thoroughly engineered solutions and gained invaluable experience with a proven track record of safe and successful project delivery, from the design and supply of small bespoke systems through to major multi-site CDM managed contracts in excess of 20 million GBP.
For more information, please visit www.orbital-uk.com.
KEMA (www.kema.com), which was established in 1927, is an independent knowledge provider operating globally in the energy value chain and specializing in high-quality services in the field of business & technical consultancy, operational support, measurements & inspections and testing & certification. As an impartial organization, KEMA provides consultancy and support to government bodies and manufacturers, suppliers and end-users of energy. Moreover, KEMA certifies products, systems and individuals for a wide range of clients. KEMA employs more than 1,800 professionals in 20 countries worldwide.
For more information, please visit www.kema.com.
Gasunie (www.gasunie.nl) is a European gas infrastructure company. The annual gas throughput totals approximately 125 billion cubic meters. Gasunie offers transport services via the subsidiaries Gas Transport Services B.V. (GTS) in the Netherlands and Gasunie Deutschland in Germany. Gasunie also offers other services in the gas infrastructure field, including gas storage and LNG.
For further information, please visit www.gasunie.nl
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.
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