HOUSTON, Feb. 14, 2017 /PRNewswire/ -- CUI Global, Inc.'s (NASDAQ: CUI) wholly-owned United Kingdom (UK) energy subsidiary, Orbital Gas Systems Ltd., (Orbital), has been awarded a contract valued in excess of $750,000 by a major European industrial company operating bio-methane-to-grid plants throughout Europe.
Under the contract, Orbital will provision two BioMethane units, the company's bio-methane-to-grid system, for delivery to the client in 2017. The award follows an extensive audit and assessment of Orbital's technical, innovation, and support capabilities with the intention of creating a long-standing partnership for BioMethane solutions. Orbital's 100% success rate in achieving 'gas-to-grid' deadlines and its world-class design, manufacturing and technical support facilities were pivotal factors in securing the contract.
Orbital President, Richard Law, stated, "This contract recognizes Orbital's deep technical expertise in the field of BioMethane by one of Europe's largest industrial companies. Our world-class facilities, innovative technologies and track record of achievement together enabled us to secure this opportunity."
William Clough, CUI Global's president & CEO, commented, "As the natural gas sector increasingly turns to BioMethane to meet energy and environmental needs, Orbital's recognized expertise in the renewable gas market puts it at the forefront of a growing market opportunity. Awards from industry leaders should spur adoption of our BioMethane system, as well as our solutions for the pipeline gas measurement and power generation markets, and drive our penetration of sizeable addressable markets in Europe, North America and elsewhere."
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's 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
Orbital Gas Systems (Orbital), a CUI Global Company, is the leader in innovative gas solutions, having more than 30 years of experience in design, installation and the commissioning of industrial gas sampling, measurement and delivery systems. Operating globally to energy, power and processing markets, Orbital manufactures and delivers a broad range of applications including environmental monitoring, gas metering, process control, telemetry, gas sampling and BioMethane.
For more information please visit www.orbitalgas.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.