HOUSTON, Nov. 28, 2017 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI) announced today that its wholly-owned
subsidiary, Orbital Gas Systems Ltd. ("Orbital"), was recently
awarded project approval for an open-invitation competition by one
of Europe's leading energy
producers, French pipeline operator, ENGIE. Initiated by ENGIE Lab
Crigen, ENGIE Group's research and operational expertise center
dedicated to gas, new energy sources and emerging technologies, the
contest called for projects to identify innovative solutions for
testing the quality of biomethane.
Late last year, ENGIE, formerly GdF Suez, launched a public call
for projects identifying solutions for analyzing biomethane to
verify quality compliance before feeding it into the grid (Analyzer
Competition). Orbital submitted a proposal that entailed
enhancements to its already-established GasPT natural gas analyzer
to meet requirements of the French biomethane injection market.
This GasPT application is a critical move for French and other
European nations to attain extremely challenging targets for a more
renewable future energy mix; as many as 1,400 new biomethane sites
are envisaged to be installed in France alone over the next several years.
ENGIE's call-for-projects cited the following objectives:
- ENGIE Lab CRIGEN is launching a call for innovative
projects to identify analytic solutions for the biogas
sector.
- The goal is to identify solutions for analyzing biomethane
to meet the technical requirements of distributors and transporters
within the framework of the energy transition. The innovations may
be technological, financial or commercial or have to do with
business models. The biogas industry is booming in Europe. In France, 18 sites currently inject biomethane
into distribution and transmission networks (2 sites for transport
networks, 16 sites for distribution networks).
- One of the critical points in the chain is quality
compliance monitoring for biomethane so that it meets certain
technical requirements before being injected into the network.
These can be specific to the distributor and to the carrier. We
need to identify solutions to meet the needs of the industry: high
technical performance for low costs for both the solution and
associated maintenance.
It is now recognized that few solutions are available to meet
the needs now and in the future, such as measuring speed, CAPEX,
and OPEX (analyzers and maintenance). The GasPT, with its proven
record in gas networks, ease of installation, minimal running costs
and maintenance is perfectly aligned with these requirements and is
being increasingly recognized as the future-ready device to monitor
and manage gas quality in a diversifying global gas
market.
As part of the prize for winning a coveted slot in this open
competition, ENGIE are promoting the collaborative innovation work
they have completed with Orbital in their R&D facility, Crigen
in the St Denis suburb of Paris,
France. These posts were recently sent out by ENGIE on its
Twitter and Facebook pages:
https://twitter.com/ENGIEInnov/status/933000015898988545
https://www.facebook.com/ENGIEInnovation/photos/a.462750633913849.1073741828.460419387480307/759655514223358/?type=3&theater
As explained by CUI Global's president & CEO, William Clough, "This award and subsequent
collaboration with an energy producer as iconic as ENGIE further
validates our leading-edge technology and its continuing
application to environmentally-friendly solutions for renewable
energy production, transportation, and monitoring throughout
Europe and beyond."
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
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.
Media
Contact:
CUI Global,
Inc.
Jeff
Schnabel
Main:
503-612-2300
press@cuiglobal.com
|
External IR
contact:
LHA Investor
Relations
Sanjay M. Hurry
212-838-3777
cuiglobal@lhai.com
|
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