HOUSTON, Oct. 9, 2017 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that the Office of Gas and Electricity Markets (OFGEM) in the United Kingdom has approved the Stage Gate Report for Future Billing Methodology (FBM), moving the project ahead to Phase 2 and confirming the use of CUI Global's unique GasPT Technology as the chosen Calorific Value (CV) analyzer.
The FBM project, developed in partnership with SGN, one of the UK's key gas distribution operators, and industry innovation leader DNV GL, aims to unlock the potential benefits of de-carbonization of the existing gas grid and open up an economical pathway for the de-carbonization of heat by changing the billing methodology across the U.K. natural gas grid. The "Ideal" solution calls for the deployment of as many as 45,000 new CV metering points to allow bio-methane and other alternative, renewable fuels to be injected into the grid without enhancement by adding carbon-rich, fossil gases like propane.
As explained by CUI Global's president & CEO, William Clough, "This exciting project is only made possible by the use of a relatively inexpensive and maintenance-free analyzer like our GasPT. Such a project, envisioning the broad deployment of literally tens-of-thousands of analyzers, would simply not be possible using the high-maintenance, expensive legacy technology."
"Our involvement in the early-stage R&D, testing, and development of this sweeping change to the U.K. energy network is no coincidence," continued Mr. Clough. "It is further confirmation of the value and importance of our unique GasPT technology, a technology which can and will transform the way that energy is delivered to both the residential and industrial customers throughout the U.K., Western Europe and beyond."
Phase 2 is a field trial that will include in-network GasPT analyzers and flow monitoring, providing information for the modelling of CV zones for billing, as well as the smart metering laboratory trial. This initiative is designed to transition the current billing methodology to maximize the use and potential of diverse gases on the network.
The project team has identified measurement sites for field trials around the bio-methane inputs at Chittering and Hibaldstow. Measurements taken by the GasPT will be transmitted to the DNV GL secure data cloud using GPRS mobile communications.
According to the report, the project and original three-year time-line set out in SGN's Network Innovation Competition submission document is proceeding "smoothly and efficiently" into Phase 2 without undue delay. Further information can be found in the FBM Stage Gate Report (Ofgem Stage Gate Report) and at the Future Billing Methodology website (FBM Website).
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.
Outside IR contact:
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SOURCE CUI Global, Inc.
