National Grid Recognizes CUI Global Inc.'s VE® Technology As "Preferred
Option" for British Natural Gas Pipelines
TUALATIN, Oregon, March 24, 2014
TUALATIN, Oregon, 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.
Logo - http://photos.prnewswire.com/prnh/20120320/FL72629LOGO
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
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
John Harris, Engineering Manager for the Gas Quality & Metering division
within Gas Transmission Asset Managementat 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
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 Orbital-UK 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 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.
Contact: CUI Global, Inc.: Maggie Lefor, Main: +1-503-612-2300,
firstname.lastname@example.org or Outside IR contact: Stonegate Securities: Casey
Stegman, +1-214-987-4121, email@example.com or Genesis Select: Budd
Zuckerman, President, firstname.lastname@example.org or Matthew Selinger,
Principal, email@example.com, +1-303-415-0200
Press spacebar to pause and continue. Press esc to stop.