TUALATIN, Oregon, Oct. 21, 2014 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced that its wholly owned subsidiary, Orbital Gas Systems Ltd, through its products division, Orbital Global Solutions (OGS) has been nominated for two awards in the finals of the 2014 Institution of Engineering and Technology (IET) Innovation Awards.
Against a record number of applications including some of the world's largest commercial organizations and most respected academic institutions, Orbital's revolutionary Gas PT® technology and patented VE® sampling system have been shortlisted for award in the Power and Energy category.
The IET is one of the world's largest organizations for engineers and technicians having over 160,000 members in 127 countries around the world. For more than 140 years, IET has focused on working to engineer a better world, inspire, inform and influence the global engineering community, supporting technology innovation to meet the needs of society. The IET is the Professional Home for Life for engineers and technicians, and a trusted source of Essential Engineering Intelligence and thought leadership.
As one of many services, the IET rewards engineering aspirations, enterprise and excellence with a range of annual Scholarships and Awards. The Innovation Awards (for which OGS is a Finalist), for example, celebrate the products, technologies and processes that lead the way in engineering innovation.
"We are very pleased that an international organization as prestigious as IET has selected our GasPT2 and VE Technology as finalists for their 2014 Innovation Awards," commented William J. Clough, president & CEO of CUI Global.
"The continuing industry recognition of our cutting-edge natural gas product-line confirms CUI Global's leadership role in this growing field and recognizes the achievements of our product design and engineering teams. Moreover, this selection demonstrates our commitment to delivering innovative solutions and products to the oil & gas markets," Clough concluded.
The final selection and awards dinner will be held in London on November 19th 2014.
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 Ltd ("Orbital-UK") is the largest natural gas systems integrator in the United Kingdom. For over 25 years, Orbital-UK 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-UK's internationally recognized expertise in the natural gas industry, including bringing together the patented VE-technology with the ground-breaking GasPTi device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital-UK is a wholly owned subsidiary of CUI Global, Inc.
About the Institution of Engineering and Technology
The IET is one of the world's largest organizations for engineers and technicians having over 160,000 members in 127 countries around the world. Focused on working to engineer a better world, the IET inspire, inform and influence the global engineering community, supporting technology innovation to meet the needs of society. The IET is the Professional Home for Life for engineers and technicians, and a trusted source of Essential Engineering Intelligence and thought leadership.
In 2013, the IET provided over £1,000,000 in awards, prizes and scholarships, to celebrate excellence and innovation in the sector and encourage the next generation of engineers and technicians. They will maintain this investment in 2014 with its portfolio of awards which includes Diamond Jubilee scholarships, Apprentice and Technician awards, scholarships in India, the Present around the World competition and the IET A F Harvey Engineering Research Prize.
For more information, please visit www.theiet.org.
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.