CUI Global Inc (NASDAQ:CUI) said Tuesday that its wholly-owned energy subsidiary, Orbital Gas Systems North America, has won orders for the company's proprietary VE technology from several Fortune 100 energy companies.
In a statement, the Oregon-based energy and technology-services company said the orders have poured in from the oil and gas industry based in Houston, Dallas and Charlotte, North Carolina, for trace mercury measurement in oil and gas.
Orders for the company's patented VE technology product line comprised 20 probes and 10 systems across several innovative, global projects, the company said. Each deployment consists of components wholly designed by Orbital and manufactured, assembled and tested locally by Orbital, or one of its North American manufacturing partners.
Orbital Gas Systems has offices in the United Kingdom and in Houston, Texas. It boasts two flagship energy products. The first is its GasPT platform, which has a revolutionary method of almost instantly and accurately determining the quality of natural gas. The company’s second-leading product is its VE technology, which employs specialized sampling probes to take smaller, more consistent and cleaner gas samples.
"Orbital specializes in sample systems for difficult to measure analytes. Heightened global awareness of the presence of mercury in oil and gas has led to increased sampling and testing in production and refining processes, chemical plants, and natural gas transmission,” CUI Global CEO Jim O'Neil noted.
“Recognizing this trend, Orbital has developed its differentiated and proprietary VE technology. Customer trials, as well as our targeted marketing and sales efforts, have broadened the oil and gas industry's awareness of our disruptive VE technology in North America and we are now beginning to see significant orders, with several repeat customers in the Fortune 100,” he added.
The company’s VE technology product line sales are up 250% year-to-date, compared to the same period in 2019, the company pointed out.
“Our world class oil and gas measurement integration facility in the Houston area, along with our team of well-respected sampling experts from the US and UK, have laid a strong foundation for this product line," O’Neil said.
Mercury is a difficult substance to measure and can cause “significant safety and operational concerns” at ultra-trace levels, CUI noted.
To support its customers, Orbital has developed a range of portable, fixed and fully automated solutions, which have been successfully implemented at several plants around the world.
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