|By PR Newswire||
|March 24, 2014 05:30 AM EDT||
TUALATIN, Ore., March 24, 2014 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced that National Grid has accepted CUI Global's proprietary VE® Technology as the "preferred option" for British natural gas pipelines and intends to present the solution at a future European Seminar for Gas Transporters Benchmarking Initiative.
For its part, National Grid is committed to Safety and Innovation. National Grid has made significant advancements in monitoring the quality and properties of the gas entering its network. Traditionally natural gas has been supplied from predictable sources; however as the world supply has developed the variability of the properties of the gas has increased. As a result, National Grid continually looks for partners who can assist them in pushing the limits of technology and innovation to provide a solution to the problem of quickly and reliably measuring the quality and properties of Natural Gas.
CUI Global's wholly owned subsidiary, Orbital Gas Systems Ltd., has developed (together with National Grid) a unique range of products based around its patented Vortex Eliminating technology (VE®). This technology provides numerous benefits to the end user, including significant process safety enhancements that actually prevent pipeline rupture, reduce the amount of wasted/vented gas and therefore protects the environment. In addition, the VE products are capable of extracting a gas sample from a high-pressure pipeline for analysis in less than 2 seconds.
This innovative technology allows National Grid to ensure that the gas it transports is safe for its Network and its customers. As a result, National Grid has standardized the VE sample systems and is both presenting and recommending the technology to the European Union and Britain as "best practice."
John Harris, Engineering Manager for the Gas Quality & Metering division within Gas Transmission Asset Management at National Grid commented, "National Grid is committed to Safety and Environmental protection, VE technology is a significant step forward in maintaining our position as a world leader in transporting gas in the safest possible manner. We are therefore pleased to share our experience and progress with the European community."
To date, National Grid has ordered for installation over 140 VE sample systems and VE is becoming a preferred option to Natural Gas users and transporters throughout the world.
CUI Global's president & CEO, William Clough, stated that, "By continuing to associate ourselves and our proprietary technologies with energy providers as respected as National Grid, we continue to prove the viability and value of our GasPT2 and VE Technologies. The VE Technology is especially applicable to the natural gas pipeline sector as it enhances accuracy and provides the unequaled ability to prevent vibrations and, thereby, the associated pipeline and probe failures, which can be catastrophic."
"We believe that this certification as 'best practices' by such an industry stalwart as National Grid for this specific application is further confirmation of the value and effectiveness of the VE Technology and the entire associated portfolio of CUI Global's natural gas products," Clough concluded.
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
Orbital-UK is the largest natural gas systems integrator in the U.K. For over 25 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-UK's internationally recognized expertise in the natural gas industry, including bringing together the patented VE-technology with the ground-breaking GasPT2 device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems.
For more information, please visit www.orbital-uk.com.
About National Grid PLC
National Grid is one of the largest investor-owned energy companies in the world. We own and manage the grids that connect people to the energy they need, from whatever the source. In Britain and the north-eastern states of the US we run systems that deliver gas and electricity to millions of people, businesses and communities.
In Britain, we run the gas and electricity systems that our society is built on, delivering gas and electricity across the country. In the North Eastern US, we connect more than seven million gas and electric customers to vital energy sources, essential for our modern lifestyles.
For more information, please visit www.nationalgrid.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.
SOURCE CUI Global, Inc.
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