TUALATIN, Ore., March 30, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), announced today that its wholly-owned United Kingdom energy subsidiary, Orbital Gas Systems Ltd. ("Orbital") has received a purchase order ("PO") from a large-scale glass bottle manufacturer in Portugal for its proprietary GasPTi system including the GasPT® analyzer and patented VE Technology®.
This PO, the first in Portugal and the first through Orbital's representative Anisol (based in Spain and Portugal), is for a low-pressure version of the complete GasPTi sampling and analysis system (GasPTi-LP), which will be installed at one of Europe's largest glass bottle manufacturers to improve and reduce excess air being used in its furnaces.
Based on the time the GasPTi takes to reach 90% of the applied concentration or "T90" response of less than 10 seconds and the Calorific Value calculation error of less than 0.5%, the amount of excess air being sent through the system will be cut in half. That improved combustion efficiency will lead to fuel savings of 5-8%, yielding a return on investment in 6 weeks or less. There are an additional 3 furnaces operated at this site on which the GasPTi-LP systems will apply once the data has been analyzed by the customer.
As explained by William Clough, CUI Global's CEO & President, "This is the first deployment of these exciting technologies into Portugal and specifically into the glass industry. The potential payback for the end user is significant and opens up opportunities for significant additional orders by this customer and other worldwide large industrial users ("LIU")."
"The container glass industry alone is estimated to be worth $60 billion by the end of 2019 and, by offering this level of savings to end users, we highlight the vast potential market for the GasPT and VE Technologies. Due to its low CAPEX and OPEX, high accuracy, low maintenance, simple operation and immediate return-on-investment, there are many LIU's manufacturing glass; cement; chemicals, fertilizer; and everything in between, who can and will benefit from using these proprietary technologies." concluded Clough.
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.
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.