TUALATIN, Ore., June 5, 2012 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced it has placed a Vergence™ GasPT2 device in a Canadian test facility operated by NOVA Chemicals. The test will be done at TransCanada's Didsbury compressor site some 50km north of Calgary and is being sponsored by TransCanada Pipeline Division.
In a separate, but related event, the company reports that GL Noble Denton, the multi-national energy consulting company from which it acquired its Vergence™ Technology, has notified its more than 3,000 consultants worldwide via intra-net regarding the commercialization of the technology and GL Noble Denton's intention to provide "consultancy services for the ongoing maintenance and implementation of Vergence GasPT2 devices ... "For its part, NOVA Chemicals will run some 18 different gas samples through the unit, reporting the results back to TransCanada. The Canadian National Standard for natural gas requires a calorific value (CV) error-rate of better than +/- 0.5%. Initial test results of the Vergence device have far exceeded that Canadian National Standard. Having more than 60 years of experience in energy infrastructure, TransCanada owns and operates more than 35,000 miles of pipeline; maintains almost 380 billion cubic feet (Bcf) of natural gas storage (making it the third largest natural gas storage provider in North America); either partially or wholly owns 19 power generation plants, capable of providing more than 10,500 megawatts (MW) of energy; and is one of the leading energy infrastructure companies in North America, with a strong focus on pipelines and power generation. For further information, see http://transcanada.com. NOVA Chemicals provides highly skilled resources and capabilities which collectively aim to maximize value for its customers. NOVA Chemicals' Testing Services Laboratories in Calgary have a broad range of capabilities to assist its customers in identifying innovative technical solutions for their business. The laboratories are fully equipped and staffed to provide timely, cost-effective, accurate, and reliable testing. Moreover, NOVA Chemicals' laboratories at its Technical Centre are approved by various regulatory bodies to generate the appropriate data required for certification, thereby reducing the time it takes to qualify and commercialize new products. For further information, see www.novachem.com. As explained by CUI Global's president & CEO, William Clough, "Testing our technology in North America, potentially the largest single market for our device, is a significant milestone for CUI Global and our Vergence Technology. Having that testing performed by a company as respected as NOVA Chemicals in conjunction with an industry leader like TransCanada, further confirms the viability of our Vergence Technology and allows us to enter the North American market with one of the largest energy infrastructure companies in that market." "That initial testing coupled with the acknowledgement by our partner GL Noble Denton to its more than 3,000 consultants that the device is now ready for marketing through its worldwide energy consulting network creates yet more opportunity for CUI Global to see significant orders and resulting revenues from this exciting new technology," Clough continued.
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