HOUSTON, March 24, 2020 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI) announced today that its wholly-owned energy
subsidiary, Orbital Gas Systems North America ("Orbital" or the
"Company"), has recently received and deployed orders for the
Company's proprietary VE Technology from several Fortune 100 energy
companies in the Oil & Gas industry based in Houston, Dallas and Charlotte, NC, for trace mercury measurement
in oil and gas.
Orders for the Company's VE Technology product line comprised 20
probes and 10 systems across several innovative, global projects.
Each deployment consists of components wholly designed by Orbital
and manufactured, assembled and tested locally by Orbital or one of
its North American manufacturing partners.
Jim O'Neil, vice chairman and CEO
of CUI Global, commented, "Orbital specializes in sample systems
for difficult to measure analytes. Heightened global awareness of
the presence of mercury in oil and gas has led to increased
sampling and testing in production and refining processes, chemical
plants, and natural gas transmission. Recognizing this trend,
Orbital has developed its differentiated and proprietary VE
Technology. Customer trials, as well as our targeted marketing and
sales efforts, have broadened the oil and gas industry's awareness
of our disruptive VE Technology in North
America and we are now beginning to see significant orders,
with several repeat customers in the Fortune 100. Our VE Technology
product line sales are up 250% year to date compared to 2019 levels
for the same period, and we expect this product line will continue
to gain momentum. Our world class oil and gas measurement
integration facility in the Houston area, along with our team of
well-respected sampling experts from the U.S. and U.K., have laid a
strong foundation for this product line."
Orbital's range of VE Technology products are quickly becoming
an industry standard. Through the continued development of these
innovative technologies, Orbital is dedicated to ensuring its
global customers can continue to safely and efficiently control
their production facilities in an ever-changing marketplace.
Mercury is an extremely difficult substance to measure and it
can cause significant safety and operational concerns at
ultra-trace levels. The demand for accurate measurement of Mercury
is growing exponentially as awareness of required containment is
better understood and appreciated. To support its customers,
Orbital has developed a range of portable, fixed and fully
automated solutions, which have been successfully implemented at
several plants around the world.
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 to create a diversified energy
services platform. CUI Global's Energy business, Orbital Gas
Systems is a leader in innovative gas solutions with over 30 years
of experience in design, installation and the commissioning of
industrial gas sampling, measurement and delivery systems providing
solutions to the energy, power and processing markets.
Orbital Gas Systems manufactures and delivers a broad range of
technologies including environmental monitoring, gas metering,
process control, telemetry, gas sampling and BioMethane. As a
publicly traded company, shareholders can participate in the
opportunities, revenues, and profits generated by the products,
technologies, and market channels of CUI Global and its
subsidiaries. But most important, 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: http://www.cuiglobal.com
About Orbital Gas Systems
Orbital Gas Systems, (Orbital) has offices in the United Kingdom and Houston, Texas. 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
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.
Investor Relations:
KCSA Strategic Communications
David Hanover
T: 212-896-1220
dhanover@kcsa.com
View original
content:http://www.prnewswire.com/news-releases/cui-global-subsidiary-orbital-na-secures-multiple-orders-from-leading-north-american-energy-companies-for-its-proprietary-ve-technology-solutions-for-trace-mercury-measurement-301028740.html
SOURCE CUI Global, Inc.