TUALATIN, Ore., May 8, 2014 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) today announced that National Grid has accepted CUI Global's proprietary Integrated Remote Information System (IRIS®) Technology as a new method for remotely controlling and monitoring parts of its extensive pipeline transmission system.
National Grid is committed to safety and innovation. National Grid has made significant advancements in monitoring and controlling the quality and properties of the gas entering and transiting its network. As a result, National Grid continually looks for partners who can assist them in pushing the limits of technology and innovation to provide a solution to the problem of quickly and reliably measuring, monitoring and controlling its extensive natural gas pipeline network.
CUI Global's wholly owned subsidiary, Orbital Gas Systems Ltd., has developed (together with National Grid) a unique range of products, including the IRIS Remote Telemetry Unit (IRIS-RTU) platform. IRIS-RTU features revolutionary, accessible and intuitive browser driven software. This simplicity and ease of use enables seamless integration with versatile input/output modules - allowing this RTU to be used for a range of tasks from the simple to the most demanding and complicated of applications.
IRIS-RTU has been designed from the "ground up" to offer improvements in efficiency, reduce operating costs, enhance stability, augment security and most importantly - ameliorate the interface between sites, control room and operatives at all levels and locations. IRIS-RTU, coupled with a hardware platform from GE's Intelligent Platforms business, provides a single "one-size-fits-all" solution with all site specific differences being handled by configuration settings and content files.
As explained by National Grid's Senior Engineer for Network Engineering, Simon Tunstall, "[T]he IRIS Telemetry solution completely satisfies National Grid's requirement to provide an innovative telemetry system which delivers reliability, system security, a user friendly interface and cost savings. A very detailed and exacting specification was demanded and Orbital exceeded our expectations in designing an RTU using the GE PAC8000 platform that is more advanced than an equivalent 'off the shelf' alternative, while being affordable and fit for 21(st) century applications."
To date, National Grid has ordered for installation 69 of the IRIS-RTU's - 42 have been successfully installed and implemented; another 18 are currently being installed; and the final 9 will be installed later this year. Full, system-wide implementation of the technology could result in an additional 300 potential sites.
CUI Global's president & CEO, William Clough, stated that, "By continuing to associate ourselves and our proprietary technologies with energy providers as respected as National Grid and iconic partners like GE, we continue to prove the viability and value of our technologies."
"GE's control platforms deliver improved performance, greater uptime and lower total cost of ownership," said Bernie Anger, General Manager for GE Intelligent Platforms. "With solutions like IRIS, we are changing what's possible in the world of industrial automation."
"We believe that recognition and acceptance by such an industry stalwart as National Grid for the IRIS-RTU and our relationship with GE is further confirmation of the value and effectiveness of IRIS and the entire associated portfolio of CUI Global's natural gas products," Clough concluded.
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 GasPT2 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 Ltd.
Orbital Gas Systems brings 30 years of experience of designing and installing industrial gas measurement and delivery systems in the UK and internationally, focusing on packaged solutions for a broad range of applications, such as metering skids, gas quality, odourisation plant, CEMS, offshore and marine applications and more. Orbital's internationally recognized expertise in the natural gas industry, including bringing together the patented VE Technology with the ground-breaking GasPT products, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems.
For more information, please visit www.orbitalglobalsolutions.com.
About National Grid PLC
National Grid is one of the largest investor-owned energy companies in the world. We own and manage the grids that connect people to the energy they need, from whatever the source. In Britain and the north-eastern states of the US we run systems that deliver gas and electricity to millions of people, businesses and communities.
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.
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.
SOURCE CUI Global, Inc.