CUI Global Announces Contract from Major UK Natural Gas Network Operator for Delivery of IRIS-LITE RTU Systems

CUI Global, Inc. (NASDAQ: CUI), announced today that its wholly-owned United Kingdom (“UK”) energy subsidiary, Orbital Gas Systems Ltd. (“Orbital”), has been awarded a major contract from the UK’s largest natural gas transmission company, National Grid (“NG”), for delivery of its proprietary IRIS Remote Telemetry Unit (“RTU”) systems.

The order, worth approximately $1,000,000 [USD], calls for the design, construction, delivery and commissioning of a further ten (10) IRIS-RTU systems and associated electrical kiosks. It also represents the first order for the cost effective IRIS-LITE RTU, which is ideally suited to smaller Above Ground Installations (“AGI”) and power stations.

The first systems will be delivered and commissioned in partnership with NG by early Summer 2016 with the remaining AGI sites being delivered for installation prior to the end of the year.

“This order represents an exciting and continuing opportunity for us to partner with National Grid and its telemetry upgrade project and allows us to further develop the reputation of our IRIS-RTU systems,” commented Orbital’s UK Managing Director, Richard Law.

As explained by CUI Global’s president & CEO, William Clough, “Our continuing partnership with National Grid and our IRIS product clearly demonstrates the dynamic nature of this technology and provides further evidence of our ability to provide unique, leading-edge solutions to the natural gas industry.”