TUALATIN, Ore., Oct. 17, 2017 /PRNewswire/ -- CUI Global, Inc.'s (NASDAQ: CUI), wholly-owned subsidiary, CUI Inc, has been awarded its first major order for its power monitoring and switching system for data centers, known as ICE Switch. This order calls for the manufacture and delivery of 950 ICE Switch units. The full order is expected to be delivered in January of 2018.
The ICE Switch, designed and manufactured by CUI at its recently acquired Canada facility, is a power monitoring and switching system that connects to Virtual Power Systems' (VPS) ICE (Intelligent Control of Energy) Software to provide dynamic redundancy inside a data center. In a traditional data center, power is typically provisioned to be 2N redundant, meaning that 50% of the power infrastructure is untapped to provide redundancy if a failure occurs. The ICE Switch unlocks additional power by allowing data centers to utilize that stranded power for 1N non-critical servers. This functionality will allow data center operators to safely and reliably add servers without having to further invest in costly power infrastructure to support those additional applications.
The ICE Switch recently received UL/cUL and TUV 60950-1 safety certifications and has been deployed in several customer pilot programs since the beginning of the year. This initial production order is intended to support a quickly ramping customer deployment in China.
"The recent production qualification of the ICE Switch has allowed us to quickly move from market interest to market acceptance," said Matt McKenzie, President of CUI. "We expect market adoption of the ICE Switch to continue at a fast pace, and then ramp when the ICE Block is released, providing a comprehensive suite of power solutions for our customers."
The ICE Block, also manufactured by CUI, is currently progressing through the UL and TUV qualification process. Qualification is expected to be completed in Q4 of 2017, and when released, will work jointly with the ICE Switch to support an even more compelling solution designed to save data centers millions of dollars in operating expenses and capital expenditures. The ICE Block employs peak shaving principals to free-up redundant supply capacity. By profiling power demand and employing battery storage, it manages peak demand using power stored during low utilization periods.
McKenzie continued, "When we acquired the assets of our Canadian facility, we set out to develop innovative, market differentiating products with a senior team of talented individuals. The ICE Switch and Ice Block are the first of these products."
"We are excited to see customer implementations ramping-up for the Ice Switch," stated Steve Houck, CEO of Virtual Power Systems. "This is just part of a ground-breaking Software Defined Power solution that we will bring to market in partnership with CUI in the coming months."
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 focused on the development and distribution of electronic components. At the leading edge of power supply design, the organization supports customers as they strive to improve the energy efficiency and environmental credentials of their application. The company's power group is complemented by a portfolio of world-class board level components, consisting of interconnect, audio, motion control and thermal products. An unwavering commitment to create collaborative partnerships with customers and a drive to see that their design project is a success has been a hallmark of CUI's sustained growth since its founding in 1989. As a leader in the industry, CUI will continue to invest in the future through new technologies, talented employees, expanded manufacturing capabilities, and a growing global reach.
CUI Inc is a subsidiary of CUI Global, Inc., a publicly traded company whose common stock trades on the NASDAQ Exchange under the symbol CUI.
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.