Houston, TX /PRNewswire/ - CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom ("U.K.") energy division, Orbital Gas Systems ("Orbital"), has entered into a technical collaboration with Mitsubishi Electric Europe BV ("Mitsubishi Electric") to further enhance Orbital's remote telemetry unit (RTU) and BioMethane product lines with Mitsubishi Electric's leading-edge automation control platforms.
The partnership will ensure Orbital continues to utilize optimum industry standard equipment for its product lines. Mitsubishi Electric, a global leader in automation products, will provide the hardware product platform and technical support, with Orbital contributing system design and implementation expertise. Customers will benefit from the continuity of Mitsubishi Electric product support, diversity of implementation knowledge and speedy turnaround of hardware supply. Both companies will partner in the marketing and sales of the product lines. The services will initially benefit U.K. gas transmission and gas distribution networks with further collaboration expected throughout Europe and North America.
For more than 35 years, the Mitsubishi Electric team has been growing and expanding its network and services throughout the U.K. Today, Mitsubishi Electric's professional team works closely with its customers to meet and understand the challenges or desired outcomes with the focus on bringing solutions to those opportunities using the wide range of world class Mitsubishi Electric products.
Roger Payne, divisional director, Automation System Division, Mitsubishi Electric, said, "We look forward to working together with Orbital to meet the challenging requirements of a market embarking upon the process of digitalisation, which will improve efficiency, lower maintenance burdens and increase availability throughout the U.K.'s national infrastructure. By combining Mitsubishi Electric's leading-edge automation control platforms, including the recently launched iQ-R and iQ-F range of products, with Orbital's expertise in gas transmission and distribution applications, we will be able to deliver a flexible, reliable and cost-effective equipment-based solution to market."
Paul D. White, president, Orbital, said, "It's an absolute honor to collaborate with Mitsubishi Electric. They are our newest partner and a wonderfully established organization. Our partnership enables both companies to pool complimentary knowledge, expertise and technologies to create better solutions for our customers on a befittingly stable platform. There is significant benefit in the product compatibility of the Mitsubishi Electric platform, meaning we can continue using our proprietary developed software as the hardware product develops. Furthermore, Mitsubishi Electric's recently launched iQ-R and iQ-F Programmable Logic Controllers are the fastest in the market. We are looking forward to incorporating these valuable products into our other technical offerings, further strengthening our collaborative partnership as we move forward."
Commenting on the partnership with Mitsubishi Electric, CUI Global president & CEO William Clough, stated, "This collaboration allows Orbital to continue to build on its efforts in the RTU market, first started with its proprietary IRIS software. Now, with input from our major customers and Mitsubishi Electric, our RTU units will address the specific needs and requirements of our customer base. In this way, we believe we can be even more responsive to the industry and much more likely to increase our market share in this burgeoning field."
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 Gas Systems
Orbital Gas Systems, (Orbital) has offices in the United Kingdom and Houston, Texas. For over 30 years, Orbital has developed its portfolio of products, services and resources to offer a diverse range of personalized gas engineering solutions to the gas utilities, power generation, emissions, manufacturing and automotive industries. Orbital's internationally recognized expertise in the natural gas industry, including bringing together the patented VE Technology® with the ground-breaking GasPT device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital is a wholly owned subsidiary of CUI Global, Inc.
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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