CUI Global Announces First Retail Sales and Installation of its Vergence™ GasPT2 Devices in the United Kingdom
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CUI Global Announces First Retail Sales and Installation of its Vergence™ GasPT2 Devices in the United Kingdom

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3 Pages
English

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CUI Global Announces First Retail Sales and Installation of its Vergence™ GasPT2 Devices in the United Kingdom PR Newswire TUALATIN, Oregon, June 12, 2012 TUALATIN, Oregon, June 12, 2012 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced it has delivered and installed its first retail units of the Vergence™ GasPT2 device. The units, purchased by National Grid (LSE: NG) in the United Kingdom (UK), are being installed at Adnams Brewery in Suffolk, UK. Further units are scheduled to be installed at a similar facility in Roundham, Norfolk, UK. Both facilities produce biogas which is to be injected into the UK natural gas network, owned and operated by National Grid. In addition, Scotia Gas Networks has ordered units for its biogas facility in Poundbury, West Dorset, UK, while the Wood Group have placed retail orders for the Vergence devices as part of a National Grid contract to upgrade gas compressor stations on the National Grid transmission pipeline at Cambridge, Diss and Chelmsford. According to a 2009 report from National Grid, "up to half the [UK's] domestic gas heating could be met by turning waste into biogas." As explained by National Grid's Sustainable Gas Group, "Biogas has benefits on so many fronts. It is renewable and could help to meet the target of 15% of all our energy coming from renewable sources by 2020.

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CUI Global Announces First Retail Sales and
Installation of its Vergence™ GasPT2 Devices
in the United Kingdom
PR Newswire
TUALATIN, Oregon, June 12, 2012
TUALATIN, Oregon
,
June 12, 2012
/PRNewswire/ -- CUI Global, Inc. (NASDAQ:
CUI), a platform company dedicated to the acquisition, development, and
commercialization of new, innovative products and technologies, today
announced it has delivered and installed its first retail units of the Vergence™
GasPT2 device. The units, purchased by National Grid (LSE: NG) in the
United
Kingdom
(UK), are being installed at Adnams Brewery in
Suffolk
, UK. Further
units are scheduled to be installed at a similar facility in Roundham,
Norfolk
,
UK.
Both facilities produce biogas which is to be injected into the UK natural
gas network, owned and operated by National Grid.
In addition, Scotia Gas Networks has ordered units for its biogas facility in
Poundbury,
West Dorset, UK
, while the Wood Group have placed retail orders
for the Vergence devices as part of a National Grid contract to upgrade gas
compressor stations on the National Grid transmission pipeline at
Cambridge
,
Diss and
Chelmsford
.
According to a 2009 report from National Grid, "up to half the [UK's] domestic
gas heating could be met by turning waste into biogas." As explained by
National Grid's Sustainable Gas Group, "Biogas has benefits on so many fronts.
It is renewable and could help to meet the target of 15% of all our energy
coming from renewable sources by 2020. It provides a solution for what to do
with our waste with the decline in landfill capacity and it would help the UK with
a secure supply of gas as North Sea sources run down."
For its part, Adnams Brewery, through Adnams Bio Energy Limited (ABE), has
announced the completion of its groundbreaking anaerobic digestion (AD)
plant, which will be the first in the UK to use brewery and local food waste to
produce renewable gas for injection into the national gas grid as well as
providing gas for use as a vehicle fuel.
In partnership with British Gas and National Grid, ABE's facility will inject
renewable gas into the gas grid. It will generate up to 4.8 million kilowatt-hours
per year – enough energy to heat 235 family homes for a year or run an
average family car for 4 million miles. In the future the facility will produce
enough renewable gas to power the Adnams brewery and run its fleet of
trucks, while still leaving up to 60 per cent of the output for injection into the
National Grid.
The Scotia Gas Networks project is a groundbreaking green power plant to
provide gas and electricity to nearly 4,000 homes in Poundbury and the
surrounding area. The AD plant is being delivered by JV Energen LLP, a
partnership involving landowners, the Duchy of
Cornwall
, and local farmers.
The plant will use farm waste and crops to provide gas and electricity, with the
waste product from the process – the digestate – going back to farmers to use
as an organic fertilizer.
Scotia Gas Networks (SGN) is the UK's second largest gas distribution company,
operating two of the country's largest gas networks. SGN covers the whole of
Scotland
and the south and south east of England. It provides a safe and
secure supply of natural gas to 5.8 million customers through 74,000 kilometers
of gas mains and services.
Wood Group (officially "John Wood Group PLC") (LSE: WG.) is a multinational oil
and gas services company headquartered in
Aberdeen, Scotland
, UK. It is a
leading international energy services company, employing more than 41,000
people worldwide and operating in 50 countries.
Wood Group is a leading independent services provider for the oil & gas and
power generation markets. Worldwide those services include engineering,
procurement & construction management, facility operations & maintenance,
and repair & overhaul of turbines and other high-speed rotating equipment.
As explained by CUI Global's president & CEO, William Clough, "By associating
ourselves and our Vergence Technology with energy providers as respected as
National Grid, Scotia Gas Networks and the Wood Group, we continue to prove
the viability and value of our GasPT2 device. The device is especially applicable
to the biogas and renewable energy sector because of its value proposition and
the 'real-time' nature of its analysis."
"We believe that these retail orders by such industry stalwarts are just the
beginning of our penetration into this exciting new market for the Vergence
devices," Clough concluded.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global is a publicly traded platform company dedicated to maximizing
shareholder value through the acquisition and development of innovative
companies, products, and technologies. From its Vergence GasPT2 platform
targeting the energy sector, to its subsidiary CUI Inc.'s industry leading digital
power platform targeting the networking and telecom industries, CUI Global has
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. CUI
Global prides itself on operating with the same level of integrity, respect, and
philanthropic dedication that was put in place by CUI Inc.'s founder more than
20 years ago. It is these values that allow the company to make a difference in
the lives of their customers, their community, their employees, and their
investors. Recently, a move was made to merge and streamline resources with
its subsidiary CUI Inc. in order to create a unified, international brand that now
positions CUI Global for further strategic expansion.
About CUI Inc.
CUI Inc. is a technology company dedicated to the development,
commercialization, and distribution of new, innovative electro-mechanical
products. Over the past 20 years, CUI has become a recognized name in
electronic components worldwide in the areas of power, interconnect, motion
control, and sound. CUI's solid customer commitment and honest corporate
message are a hallmark in the industry. CUI is a wholly owned subsidiary of CUI
Global, Inc.
For more information, please visit www.cuiglobal.com and www.cui.com.
About National Grid PLC
National Grid (LSE: NG; NYSE:NGG) is an electricity and gas company that
connects consumers to energy sources through its networks. The company is
at the heart of one of the greatest challenges facing our society - to create
new, sustainable energy solutions for the future and developing an energy
system that underpins economic prosperity in the 21st century. National Grid
holds a vital position at the centre of the energy system and we 'join everything
up'.
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.
About Wood Group
Wood Group is an international energy services company with
$6bn
sales,
employing more than 41,000 people worldwide and operating in 50 countries.
The Group has three businesses - Engineering, Wood Group PSN and Wood
Group GTS - providing a range of engineering, production support,
maintenance management and industrial gas turbine overhaul and repair
services to the oil & gas, and power generation industries worldwide.
For further information, please visit www.woodgroup.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.