HOUSTON, April 25, 2019 — CUI Global, Inc. (NASDAQ: CUI) wholly-owned Energy subsidiary, Orbital Gas Systems (“Orbital” or the “Company”), today announced that it has received orders for its GasPTi-F product from SAMSON AG, its global distribution partner, for use by a large industrial user of natural gas in Spain. The number of units comprising the orders was not disclosed.
GasPTi-F is a combination of the patented VE Technology® sample probe and sample system for pipeline-mounted application with fixed sample probe, and the industry-leading GasPT® natural gas analyzer that provides near real-time gas property data for numerous applications in the natural gas industry, such as custody transfer metering, combustion control, and blending applications.
SAMSON AG’s client will use the GasPTi-F devices to improve the combustion efficiency in its gas-fired burners. The client will use two of the standard physical properties provided by GasPT, inferior and superior calorific value, to optimize air/fuel ratio for the continuous combustion process.
“In addition to gaining access to gas network operators in previously untapped markets as Russia, China, Africa, and South America through our partnership with SAMSON AG, we are for the first time penetrating the industrial market for commercial sales of our innovative GasPT and VE technologies,” said CUI Global President and CEO William Clough. “These orders demonstrate SAMSON AG’s ability to convert recent joint business development efforts into an exciting pipeline of opportunities.”
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 GasPT® 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 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.
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SOURCE CUI Global, Inc.