CUI Global Announces Retail Sale of its VE Technology® to The Linde Group for Use in Liquid Natural Gas Processing Plant
TUALATIN, Ore., Dec. 2, 2013 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced that its wholly owned subsidiary, Orbital Gas Systems Ltd., has received an order for three (3) sampling systems using its proprietary VE Technology from The Linde Group (www.linde.com). The units are being ordered for installation into a Norwegian liquid natural gas ("LNG") processing facility.
The initial order is for three (3) specially designed probe/thermowells and has a value of £252,000 ($410,000).
The VE units will be used to optimize the costly, but vital regeneration of drier beds in a large LNG processing plant. Drier beds are required to remove all moisture from the natural gas before liquefaction. If moisture is allowed to break through these beds the facility may have to be shut down for essential maintenance works, often costing millions of dollars. Moisture breaks through the beds as they become saturated over time. A regeneration process involving blowing thousands of tons of hot gas back through the beds is periodically required to keep beds functioning effectively. The trouble with this process is that monitoring and controlling the regeneration process is extremely difficult and the consequences of not having accurate visibility of the state of saturation can cost thousands or even millions of dollars in terms of wasteful or deficient regeneration.
Specially modified VE sample probes will be made from Inconel, a so-called "super-alloy" specifically designed for high temperature applications. The units will have special VE probe tips and small bore sample lines. The units will also include the VE pressure reduction system mounted on the head of the probe for precise filtration, pressure and flow control. The VE probe and sample systems are designed for ultra-fast, accurate transport of trace components (such as moisture) to an analyzer – other systems simply cannot deliver the sample as fast or as accurate and are, therefore, not suitable for process control.
Linde has also opted for the additional VE Technology benefit of including precise temperature measurement at the probe tip. This unique feature (in addition to the obvious benefits of combining two products into one) will allow, not only better control of the plant (maximize efficiency, avoid maintenance), but will also allow a better understanding of the processes within the drier bed to allow for further development.
As explained by Orbital Global Solution's head of operations, Tom Knight, "Using our patented VE Technology, we were able to offer a highly effective and bespoke solution allowing measurement inside the bed itself. The extremely challenging environment (high temperatures, high pressures, difficult media, drier bed material, ppm or ppb levels of moisture) is the reason that current technology has always struggled with this application."
"The fact that this facility is inside the Arctic Circle makes the challenge even greater," Knight continued, "using VE Technology, Orbital has developed the optimum solution from the ground up to deliver the best possible sample system without being restricted by conventional techniques."
CUI Global's president & CEO, William Clough, stated that, "This initial order for such a critical application of our proprietary VE Technology is yet another market channel in which we hope to expand our reach and increase our revenues."
"Moreover, a partnership with such an industry giant as The Linde Group to provide a sampling solution with such broad application across the LNG process market reinforces the continuing value of our recent acquisition of Orbital and the VE Technology," 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 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.
For more information, please visit www.cui.com.
Orbital-UK is the largest natural gas systems integrator in the U.K. For over 25 years, Orbital 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 GasPT2 device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems.
For more information, please visit www.orbital-uk.com.
About The Linde Group
Linde Group is a world-leading gases and engineering company with around 63,000 employees in more than 100 countries worldwide. In the 2012 financial year, Linde generated revenue of EUR 15.280 bn. The strategy of the Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.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.
SOURCE CUI Global, Inc.