HOUSTON, Nov. 28, 2017 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned subsidiary, Orbital Gas Systems Ltd. ("Orbital"), was recently awarded project approval for an open-invitation competition by one of Europe's leading energy producers, French pipeline operator, ENGIE. Initiated by ENGIE Lab Crigen, ENGIE Group's research and operational expertise center dedicated to gas, new energy sources and emerging technologies, the contest called for projects to identify innovative solutions for testing the quality of biomethane.
Late last year, ENGIE, formerly GdF Suez, launched a public call for projects identifying solutions for analyzing biomethane to verify quality compliance before feeding it into the grid (Analyzer Competition). Orbital submitted a proposal that entailed enhancements to its already-established GasPT natural gas analyzer to meet requirements of the French biomethane injection market.
This GasPT application is a critical move for French and other European nations to attain extremely challenging targets for a more renewable future energy mix; as many as 1,400 new biomethane sites are envisaged to be installed in France alone over the next several years.
ENGIE's call-for-projects cited the following objectives:
- ENGIE Lab CRIGEN is launching a call for innovative projects to identify analytic solutions for the biogas sector.
- The goal is to identify solutions for analyzing biomethane to meet the technical requirements of distributors and transporters within the framework of the energy transition. The innovations may be technological, financial or commercial or have to do with business models. The biogas industry is booming in Europe. In France, 18 sites currently inject biomethane into distribution and transmission networks (2 sites for transport networks, 16 sites for distribution networks).
- One of the critical points in the chain is quality compliance monitoring for biomethane so that it meets certain technical requirements before being injected into the network. These can be specific to the distributor and to the carrier. We need to identify solutions to meet the needs of the industry: high technical performance for low costs for both the solution and associated maintenance.
It is now recognized that few solutions are available to meet the needs now and in the future, such as measuring speed, CAPEX, and OPEX (analyzers and maintenance). The GasPT, with its proven record in gas networks, ease of installation, minimal running costs and maintenance is perfectly aligned with these requirements and is being increasingly recognized as the future-ready device to monitor and manage gas quality in a diversifying global gas market.
As part of the prize for winning a coveted slot in this open competition, ENGIE are promoting the collaborative innovation work they have completed with Orbital in their R&D facility, Crigen in the St Denis suburb of Paris, France. These posts were recently sent out by ENGIE on its Twitter and Facebook pages:
https://twitter.com/ENGIEInnov/status/933000015898988545
https://www.facebook.com/ENGIEInnovation/photos/a.462750633913849.1073741828.460419387480307/759655514223358/?type=3&theater
As explained by CUI Global's president & CEO, William Clough, "This award and subsequent collaboration with an energy producer as iconic as ENGIE further validates our leading-edge technology and its continuing application to environmentally-friendly solutions for renewable energy production, transportation, and monitoring throughout Europe and beyond."
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
Orbital Gas Systems (Orbital), a CUI Global Company, is the leader in innovative gas solutions, having more than 30 years of experience in design, installation and the commissioning of industrial gas sampling, measurement and delivery systems. Operating globally to energy, power and processing markets, Orbital manufactures and delivers a broad range of applications including environmental monitoring, gas metering, process control, telemetry, gas sampling and BioMethane.
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.
