TUALATIN, Ore., Feb. 22, 2017 /PRNewswire/ -- CUI Global, Inc.
(NASDAQ: CUI) announced today that its wholly-owned subsidiary, CUI
Inc. (CUI), has successfully deployed initial test units of its
Intelligent Control of Energy ("ICE") Block technology. Deployment
of the units highlight ICE Block's peak shaving capabilities and
includes a new ICE Switch product that further unlocks power
capacity for the customer. CUI and Virtual Power Systems (VPS)
announced a partnership in 2016 for VPS' ICE® solution that brings
the benefits of elastic power to data centers and sets a new
standard for efficient power infrastructure.
The initial trial evaluations are being conducted by three key
data center market participants and respective leaders in their
business segments:
- One, a data center and a Fortune 500 company, has its own data
center infrastructure in multiple states serving millions of
consumer transactions and financial product portfolios across North
America. This customer sees the peak shaving capabilities as
an opportunity to install additional racks in its existing data
centers and new data centers under construction.
- The second customer is a top-tier data center hardware provider
that is evaluating the technology for peak shaving and is using the
switch as a platform to improve its customer value
proposition.
- The third customer, a Fortune 100 company and one of the
largest providers of technology in the world, a backbone for all
data centers, is evaluating the ICE Block/VPS combination of
technologies as a platform it will include in the solutions
provided to its customer base. The products are expected to
move into full production status later this year.
Matt McKenzie, president of CUI
Inc., stated, "We are excited about the recent installations and
the technical validation these deployments are bringing. We
believe that this is a major step in the traction of this
disruptive technology. We are looking forward to demonstrating
further the advantages of the ICE platform with many more customers
in the near future."
Shankar Ramamurthy, VPS's chief executive officer, commented,
"Virtual Power Systems recently piloted ICE Blocks from CUI at
one of the world's most sophisticated data centers in Salt Lake City. CUI's products performed
flawlessly. CUI was able to take complex high density Lithium Ion
Battery chemistry designs and turn them into working products at
customer shelves in record time. We cannot be more excited with our
partner, CUI, who combines engineering gravitas with high speed
innovation."
William Clough, CUI Global's
president & CEO, added, "Deployment of these test units to
three renowned, industry leading companies, is the first step in
gaining industry acceptance of this unique technology. As the
results of these test units become available, we are convinced that
the many benefits, including enhanced performance and peak shaving
ability, will create demand, market penetration, and, ultimately,
increased revenues and earnings from this exciting new
technology."
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.
For more information, please visit www.cui.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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cui-globals-subsidiary-cui-inc-successfully-deploys-its-software-defined-power-solutions-ice-block-to-industry-leading-data-center-operators-300411329.html
SOURCE CUI Global, Inc.