TUALATIN, Ore., Oct. 17, 2017 /PRNewswire/ -- CUI Global,
Inc.'s (NASDAQ: CUI), wholly-owned subsidiary, CUI Inc, has been
awarded its first major order for its power monitoring and
switching system for data centers, known as ICE
Switch. This order calls for the manufacture and
delivery of 950 ICE Switch units. The full order is expected to be
delivered in January of 2018.
The ICE Switch, designed and manufactured by CUI at its recently
acquired Canada facility, is a
power monitoring and switching system that connects to Virtual
Power Systems' (VPS) ICE (Intelligent Control of Energy) Software
to provide dynamic redundancy inside a data center. In a
traditional data center, power is typically provisioned to be 2N
redundant, meaning that 50% of the power infrastructure is untapped
to provide redundancy if a failure occurs. The ICE Switch unlocks
additional power by allowing data centers to utilize that stranded
power for 1N non-critical servers. This functionality will allow
data center operators to safely and reliably add servers without
having to further invest in costly power infrastructure to support
those additional applications.
The ICE Switch recently received UL/cUL and TUV 60950-1 safety
certifications and has been deployed in several customer pilot
programs since the beginning of the year. This initial production
order is intended to support a quickly ramping customer deployment
in China.
"The recent production qualification of the ICE Switch has
allowed us to quickly move from market interest to market
acceptance," said Matt McKenzie,
President of CUI. "We expect market adoption of the ICE Switch to
continue at a fast pace, and then ramp when the ICE Block is
released, providing a comprehensive suite of power solutions for
our customers."
The ICE Block, also manufactured by CUI, is currently
progressing through the UL and TUV qualification process.
Qualification is expected to be completed in Q4 of 2017, and when
released, will work jointly with the ICE Switch to support an even
more compelling solution designed to save data centers millions of
dollars in operating expenses and capital expenditures. The ICE
Block employs peak shaving principals to free-up redundant supply
capacity. By profiling power demand and employing battery storage,
it manages peak demand using power stored during low utilization
periods.
McKenzie continued, "When we acquired the assets of our Canadian
facility, we set out to develop innovative, market differentiating
products with a senior team of talented individuals. The ICE Switch
and Ice Block are the first of these products."
"We are excited to see customer implementations ramping-up for
the Ice Switch," stated Steve Houck,
CEO of Virtual Power Systems. "This is just part of a
ground-breaking Software Defined Power solution that we will bring
to market in partnership with CUI in the coming months."
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 CUI Inc
CUI Inc is a technology company focused
on the development and distribution of electronic components. At
the leading edge of power supply design, the organization supports
customers as they strive to improve the energy efficiency and
environmental credentials of their application. The company's
power group is complemented by a portfolio of world-class board
level components, consisting of interconnect, audio, motion control
and thermal products. An unwavering commitment to create
collaborative partnerships with customers and a drive to see that
their design project is a success has been a hallmark of CUI's
sustained growth since its founding in 1989. As a
leader in the industry, CUI will continue to invest in the future
through new technologies, talented employees, expanded
manufacturing capabilities, and a growing global reach.
CUI Inc is a subsidiary of CUI Global, Inc., a publicly traded
company whose common stock trades on the NASDAQ Exchange under the
symbol CUI.
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.
Media
Contact:
|
External IR
Contact
|
CUI Global
Inc.
|
LHA Investor
Relations
|
Jeff
Schnabel
|
Sanjay M.
Hurry
|
503-612-2300
|
212-838-3777
|
Press@cuiglobal.com
|
cuiglobal@lhai.com
|
|
|
View original content with
multimedia:http://www.prnewswire.com/news-releases/cui-global-incs-wholly-owned-subsidiary-cui-inc-announces-first-production-order-for-its-power-monitoring-and-switching-system-ice-switch-for-data-centers-300537648.html
SOURCE CUI Global, Inc.