CUI Global Inc., a company engaging in commercializing thermal management solutions for LED display, semiconductor, and electronic packaging industries, announced that it has entered into a three year exclusive distribution contract with Orbital-UK for marketing, sales, distribution, and service for its Vergence™ GasPT2 gas metering technology in the United Kingdom.
The agreement is for the sale of as many as 1,500-2,000 units and is valued from $30,000,000-$40,000,000 over a period of three years. The Company expects to begin delivering the product in the late first quarter of 2012. Orbital has suggested that, conservatively, there exist thousands of natural gas metering sites around the world that, because of many factors, will need a faster, more economical, and more accurate metering system. The factors include: diversity in supply, which result in fast changes in gas quality; new and non-conventional sources for natural gas, thus requiring additives to maintain parameters for combustion; and pressure from governing bodies to guarantee increased monitoring and product safety.
Orbital, one of the biggest system integration providers in the industrial gas market in the UK, is a specialist gas engineering company, offering integrated instrumentation and engineered solutions to the industrial process, gas utilities, and environmental industries.
Along with becoming exclusive distributors in the United Kingdom, Orbital has also agreed to package its patented VE-Probe Technology with the Vergence product, creating a combined metering solution which will allow gas producers, transmitters, and consumers to have accurate, in-pipeline gas quality analysis in under five seconds from gas sampling to final analysis. This is in comparison to the more than 14-minute cycle for the existing sampling/analysis systems. CUI Global will be marketing both the VE-Probe Technology and the GasPT2 devices under its Vergence™ brand.
“This is our first distribution agreement for our Vergence product line and, coupled with our ability to package the Orbital VE-Probe Technology under our Vergence gas metering brand, will greatly enhance our ability to penetrate the natural gas industry in the UK and Europe,” explained CUI Global’s president & CEO, William Clough. “Having a partner with the status and reputation of Orbital confirms the dynamic nature of our technology. It will allow the company to rapidly produce, market, and deploy a unique, accurate solution to gas quality metering that is faster, simpler, and less expensive than anything currently available to the market.”
“We expect the relationship between CUI Global and Orbital to become a model by which we will deliver this exciting new technology to natural gas transporters, producers, and consumers in Europe, North America, and beyond,” concluded Clough.
Andrew Ridge, Director of Orbital Gas Systems Ltd. concurred that, “we at Orbital are very enthusiastic about this new relationship with CUI Global. The combination of our VE Probe Technology and the Vergence Gas Metering Device will provide the natural gas industry with a metering system without peer. We can provide economical, accurate gas quality analysis in a cycle time of less than 5 seconds, which is simply unavailable using any other currently available technology.”
“We look forward to a long and rewarding relationship between our two companies and these dynamic technologies,” added Ridge.
CUI Global, Inc. is a company that works in commercializing thermal management solutions for LED display, semiconductor, and electronic packaging industries. It mainly focuses on commercializing its thermal cooling technology under the name WayCool. The company’s cooling solutions for central and graphics processors, solar energy devices, and power supplies help in the thermal management process in the electronics industry. CUI Global, Inc., through its wholly owned subsidiary, CUI Japan, and through partnership interest in Comex Electronics Ltd., provides digital to analog and analog to digital test and measurement systems, and electronic components for OEM research and development as well.
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