Energy tech group CUI Global, Inc.’s (NASDAQ:CUI) United Kingdom energy subsidiary, Orbital Gas Systems Ltd., has been awarded a contract valued in excess of $750,000 by a major European industrial company operating bio-methane-to-grid plants throughout Europe, the company said on Tuesday.
Orbital will provide two BioMethane units, the company’s bio-methane-to-grid system, for delivery to the client in 2017.
The award follows an extensive audit and assessment of Orbital’s technical, innovation, and support capabilities with the intention of creating a long-standing partnership for BioMethane solutions. Orbital’s 100% success rate in achieving ‘gas-to-grid’ deadlines and its world-class design, manufacturing and technical support facilities were pivotal factors in securing the contract.
“This contract recognizes Orbital’s deep technical expertise in the field of BioMethane by one of Europe’s largest industrial companies. Our world-class facilities, innovative technologies and track record of achievement together enabled us to secure this opportunity,” said Orbital President, Richard Law.
William Clough, CUI Global’s president & CEO, commented, “As the natural gas sector increasingly turns to BioMethane to meet energy and environmental needs, Orbital’s recognized expertise in the renewable gas market puts it at the forefront of a growing market opportunity. Awards from industry leaders should spur adoption of our BioMethane system, as well as our solutions for the pipeline gas measurement and power generation markets, and drive our penetration of sizeable addressable markets in Europe, North America and elsewhere.”
CUI shares were up 2.7% at $6.17 on Tuesday in New York.
Story by ProactiveInvestors