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CUI Global’s energy subsidiary secures US$1.5mln service contract from major UK natural gas operator

The exclusive contract will run its course for two years and includes a one -year extension option

An energy plant
CUI Global's VE technology employs specialized sampling probes to take smaller, more consistent and cleaner gas samples

CUI Global Inc (NASDAQ:CUI) announced Monday that its wholly-owned energy subsidiary, Orbital Gas Systems Ltd, had been awarded an exclusive two-year contract valued at £1,150,000 (US$1.5mln) to provide routine maintenance, repair and calibration for a major UK natural gas transmission company.

The two-year contract begins September 1 and includes a one-year extension option. In what is highly unusual, the UK natural gas operator awarded the contract exclusively to Orbital based on its capabilities to provide the whole spectrum of maintenance and repair services for the network’s entire gamut of Maxum analyzers and MicroSAM gas chromatographs.

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“The exclusivity of this services contract speaks to the unique position Orbital occupies in the ecosystem of vendors to this major operator, one that is founded not only in Orbital’s ability to deliver world-class services, but also its access to proprietary, cutting-edge gas measurement technologies, such as GasPT and VE Technology, not available from any other vendor,” said CUI Global CEO William Clough.

The GasPT platform has a revolutionary method of almost instantly and accurately determining the quality of natural gas.

The company’s second flagship product is its VE technology, which employs specialized sampling probes to take smaller, more consistent and cleaner gas samples.

A huge amount of industry interest in biomethane has also been sparked by Orbital GasPT technology receiving regulatory board approval from the UK’s energy regulator, the Office of Gas and Electricity Markets (Ofgem), in May.

Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive

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Price: 0.6909 USD

NASDAQ:CUI
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Market Cap: $19.82 m
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