HOUSTON, April 24, 2018 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom ("UK") energy subsidiary, Orbital Gas Systems Ltd. ("Orbital"), has received new, broader certification of its proprietary GasPT analyzer and software from UK regulator, the Office of Gas and Electricity Markets (Ofgem). Per the certification, the GasPT is now approved for "use at all Directed measurement points where the gas composition is known to be within the approval range of the instrument."
Approval and certification from this highly-respected, internationally-recognized regulatory agency comes after extensive testing, consultation, and review, and follows Ofgem's April 2017 decision to align the UK accuracy requirements for a Calorific Value Determining Device (CVDD) used on the UK distribution network to those detailed within the International Organization of Legal Metrology (OIML R140) standard (Class A). With Ofgem's certification, the GasPT device can now be broadly deployed across all measurement points, large and small, throughout the UK and Western European countries that adhere to Ofgem's regulations. In the UK, such certification is necessary for continued implementation of the Future Billing Methodology ("FBM"), biomethane applications, and many other projects that can now employ this unique analytic solution.
President of Orbital's UK operation, Paul White, commented, "With this certification, we can pursue our go-to-market strategy across both the UK and Western European natural gas markets in a much more vigorous manner. Our track record of achievement, world class facilities and innovative technologies continue to keep us at the forefront of the natural gas industry, including analytic and sampling technologies. "
CUI Global's president & CEO, William Clough added, "The entire Orbital team should be congratulated for this important certification. Successful completion of the lengthy, complex certification process testifies to our capabilities and commitment. We can now move forward in our efforts in FBM, biomethane, and other projects designed to help UK energy operators find new ways of optimizing operational performance; maximizing the use of renewable resources; and mitigating the effects of climate change."
Orbital will host a formal "GasPT Ofgem Approval Workshop" at its UK facility on May 10, 2018, and has invited representatives from the largest gas network operators and energy producers in the UK to attend.
In addition, on May 2, 2018, Orbital will attend and exhibit at the Renewable Energy Association's ("REA") UK Biomethane Day 2018, the largest gathering of the gas-to-grid industry in Europe, at which Orbital will formally promote the new, broader certification and demonstrate the GasPT, along with its benefits and advantages.
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 GasPT® 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) has offices located in the United Kingdom and Houston, Texas, it remains the UK's largest natural gas systems integrator. For over 30 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's internationally recognized expertise in the natural gas industry, including bringing together the patented VE Technology® with the ground-breaking GasPT device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital is a wholly owned subsidiary of CUI Global, Inc.
For more information, please visit www.orbitalgas.com
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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.