CUI Global, Inc.'s Wholly-Owned Subsidiary, Orbital-UK, Acquires Exclusive
Worldwide Rights to VE-Technology from EnDet Ltd.
TUALATIN, Ore., July 30, 2013
TUALATIN, Ore., July 30, 2013 /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 its wholly-owned subsidiary, Orbital-UK, has acquired exclusive
worldwide rights to manufacture, sell, design, and otherwise market the
VE-Probe and VE-Technology from its United Kingdom-based inventor, EnDet Ltd.
The agreement gives Orbital exclusive and sole control of all technology
related to its revolutionary GasPT2 and GasPTi natural gas metering systems.
The GasPT2 technology, originally designed by Advantica Ltd. (the R&D Division
of British Gas), provides fast and accurate measurement of the calorific value
and relative density of natural gas. The GasPT2 analyzer measures physical
properties of the gas mixture, such as thermal conductivity and speed of
sound. From these properties it infers an effective gas mixture comprising
four components: Methane, Propane, Nitrogen and Measured Carbon Dioxide. From
this effective gas mixture the system uses the standard ISO6976 to calculate
the gas quality characteristics, Calorific Value (CV), Wobbe Index (WI),
Relative Density (RD) and Compression Factor (Z). The GasPT2 analyzer is
unique to the industry in that, among other things, it can complete its
analysis in less than three seconds.
By combining the GasPT2 technology with the equally unique VE-Probe, which is
able to provide a gas sample from a high pressure transmission line in less
than two seconds, Orbital has created the GasPTi metering system.
The GasPTi system is able to accurately provide almost real-time data to the
natural gas operator in a total cycle-time of less than five seconds.
Moreover, it provides this real-time analysis at approximately one-fifth of
the installation cost of current technology with none of the associated
maintenance, carrier gas, calibration gas, or other ancillary costs associated
with traditional technology.
As explained by Orbital's Managing Director, Andrew Ridge, "Our acquisition of
the exclusive rights to the VE-Technology gives us the ability to control and
produce the entire Bill of Materials for our GasPTi systems, thus allowing us
to capture a far larger margin as we provide this unique metering solution to
the natural gas industry."
"In addition, we can now also manufacture, market, and sell all of the other
exciting applications for the VE-Technology, including sampling systems
separate from the GasPT2 and Thermowells found throughout all pipeline
systems," concluded Ridge.
CUI Global's president and CEO, William Clough stated, "Worldwide, exclusive
acquisition of the VE-Technology is the final piece that allows us to control
the entire supply chain for the GasPTi product line. We can now confidently
drive the business forward knowing that we control all manufacturing,
calibration, design, sales, and marketing of the system. In addition, by
being able to market the entire VE-Technology product line, including
independent sampling systems and Thermowells, we should be able to capture a
much larger share of this exciting clean energy market."
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-technologywith the ground-breaking GasPTi 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.
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
SOURCE CUI Global, Inc.
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