June 19, 2018 - 5:30 AM EDT
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CUI Global Subsidiary Orbital U.K. Enters into Collaboration with Keele University for the Development of Technologies for Future Gas Networks

HOUSTON, June 19, 2018 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned energy subsidiary, Orbital Gas Systems ("Orbital" or the "Company"), has entered into a collaboration with Keele University in the United Kingdom to develop new technology suitable for future gas networks. Orbital will open a satellite Research & Development facility at the Keele University Science and Innovation Park to work closely with the University's Smart Energy Network Demonstrator (SEND) project to develop new sensor technologies to support "green gas" monitoring and control.

CUI Global, Inc. Logo. (PRNewsFoto/CUI Global, Inc.) (PRNewsFoto/)

Keele University is turning its West Midlands campus into Europe's first Smart Energy Network Demonstrator for smart energy research and development focused on the testing and evaluation of new and evolving energy technologies.  As an 'at-scale living laboratory', SEND will work in partnership with business and industry to assess the efficiency of new technologies in terms of energy reduction, cost and CO2 emissions. 

Orbital's Head of Research & Development, Tony Wimpenny, commented, "Orbital is ideally situated to Keele, both geographically and technologically, to provide the technology, expertise, support and exposure to the global gas industry throughout participation in the SEND project. We are excited about the benefits we can leverage from this collaboration."

Head of Partnership Development at Keele University, Dr. Ian Madley, added, "We are thrilled to work with Orbital to develop new technologies suitable for future gas networks. Orbital's engagement with SEND is a fantastic example of innovation delivering really tangible results for Keele University, industry and the broader U.K. economy, as well as major societal benefits. It puts Keele and our campus at the forefront of the new and more sustainable energy landscape."

CUI Global President & CEO William Clough stated, "Our collaboration with Keele University and the SEND project fits perfectly with Europe's strategy to cultivate and grow alternative energy sources.  Our participation will enable us to further develop our Future Billing Methodology Project, biomethane-to-grid solutions and other environmentally-friendly energy solutions throughout the U.K. and Western Europe.

"The Keele University collaboration will also enhance our relationships with some of the U.K.'s and Europe's largest pipeline operators and energy providers, all of whom are looking for ways to efficiently, accurately and effectively deliver more 'green gas' alternatives. We are very excited about the recognition this relationship will bring us and to further enhance our technology advantage in the marketplace," Mr. Clough concluded.

The Smart Energy Network Demonstrator (SEND) – which is funded by Keele University, the Department for Business, Energy and Industrial Strategy (BEIS), and the European Regional Development Fund (ERDF) as part of the England 2014 to 2020 European Structural and Investment Funds (ESIF) Growth Programme – builds on Keele University's investment in its energy and other utility networks over many years. 

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 advanced 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 located 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

About Keele University

  • Keele was recently awarded Gold in the Teaching Excellence Framework
  • Keele is ranked No. 1 in England for Course Satisfaction (Guardian University Guide 2018)
  • 97% of the University's research was deemed to be world-leading, or of international importance, in the latest Research Excellence Framework
  • www.keele.ac.uk

About Smart Energy Network Demonstrator (SEND)

The SEND project (ref: 32R16P00706) is receiving up to £9m of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020, and £4.5m from the Department for Business, Energy & Industrial Strategy . The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund.

About European Regional Development Fund (ERDF)

Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.

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.


Source: PR Newswire (June 19, 2018 - 5:30 AM EDT)

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