CUI Global Announces Retail Sale of its VE Technology® to The Linde Group for
Use in Liquid Natural Gas Processing Plant
TUALATIN, Ore., Dec. 2, 2013
TUALATIN, Ore., Dec. 2, 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 Gas Systems Ltd., has
received an order for three (3) sampling systems using its proprietary VE
Technology from The Linde Group (www.linde.com). The units are being ordered
for installation into a Norwegian liquid natural gas ("LNG") processing
(Logo: http://photos.prnewswire.com/prnh/20120320/FL72629LOGO )
The initial order is for three (3) specially designed probe/thermowells and
has a value of £252,000 ($410,000).
The VE units will be used to optimize the costly, but vital regeneration of
drier beds in a large LNG processing plant. Drier beds are required to remove
all moisture from the natural gas before liquefaction. If moisture is allowed
to break through these beds the facility may have to be shut down for
essential maintenance works, often costing millions of dollars. Moisture
breaks through the beds as they become saturated over time. A regeneration
process involving blowing thousands of tons of hot gas back through the beds
is periodically required to keep beds functioning effectively. The trouble
with this process is that monitoring and controlling the regeneration process
is extremely difficult and the consequences of not having accurate visibility
of the state of saturation can cost thousands or even millions of dollars in
terms of wasteful or deficient regeneration.
Specially modified VE sample probes will be made from Inconel, a so-called
"super-alloy" specifically designed for high temperature applications. The
units will have special VE probe tips and small bore sample lines. The units
will also include the VE pressure reduction system mounted on the head of the
probe for precise filtration, pressure and flow control. The VE probe and
sample systems are designed for ultra-fast, accurate transport of trace
components (such as moisture) to an analyzer – other systems simply cannot
deliver the sample as fast or as accurate and are, therefore, not suitable for
Linde has also opted for the additional VE Technology benefit of including
precise temperature measurement at the probe tip. This unique feature (in
addition to the obvious benefits of combining two products into one) will
allow, not only better control of the plant (maximize efficiency, avoid
maintenance), but will also allow a better understanding of the processes
within the drier bed to allow for further development.
As explained by Orbital Global Solution's head of operations, Tom Knight,
"Using our patented VE Technology, we were able to offer a highly effective
and bespoke solution allowing measurement inside the bed itself. The
extremely challenging environment (high temperatures, high pressures,
difficult media, drier bed material, ppm or ppb levels of moisture) is the
reason that current technology has always struggled with this application."
"The fact that this facility is inside the Arctic Circle makes the challenge
even greater," Knight continued, "using VE Technology, Orbital has developed
the optimum solution from the ground up to deliver the best possible sample
system without being restricted by conventional techniques."
CUI Global's president & CEO, William Clough, stated that, "This initial order
for such a critical application of our proprietary VE Technology is yet
another market channel in which we hope to expand our reach and increase our
"Moreover, a partnership with such an industry giant as The Linde Group to
provide a sampling solution with such broad application across the LNG process
market reinforces the continuing value of our recent acquisition of Orbital
and the VE Technology," 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
About CUI Inc
CUI Inc is a technology company dedicated to the development,
commercialization, and distribution of new, innovative electro-mechanical
products. Over the past 20 years, CUI has become a recognized name in
electronic components worldwide in the areas of power, interconnect, motion
control, and sound. CUI's solid customer commitment and honest corporate
message are a hallmark in the industry. CUI is a wholly owned subsidiary of
CUI Global, Inc.
For more information, please visit www.cui.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 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 The Linde Group
Linde Group is a world-leading gases and engineering company with around
63,000 employees in more than 100 countries worldwide. In the 2012 financial
year, Linde generated revenue of EUR 15.280 bn. The strategy of the Group is
geared towards long-term profitable growth and focuses on the expansion of its
international business with forward-looking products and services. Linde acts
responsibly towards its shareholders, business partners, employees, society
and the environment – in every one of its business areas, regions and
locations across the globe. The company is committed to technologies and
products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.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.
Contact: Media: CUI Global, Inc., Maggie Lefor, Main: 503-612-2300,
firstname.lastname@example.org; Outside IR contact: Stonegate Securities, Casey Stegman,
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