Cui Global Announces Retail Sale Of Its Gaspti Devices To National Grid In The United Kingdom For Use As Turbine Compressor Engine Controls
Markets close in 23 mins. Cleantech Investment in United Kingdom Tops $36 Million in 3Q13 i3 Market Intelligence Platform Shows UKs Year-to-Date Investment Totals at $232 Million Press Release: Cleantech Group Inc. 11 hours ago Related Content SAN FRANCISCO–(BUSINESS WIRE)– Cleantech Group , provider of the i3 market intelligence platform and global consulting services, today released preliminary 3Q13 results from i3 . The firm reported that in the United Kingdom, clean technology venture investment during the quarter totaled $36 million, bringing the year-to-date total to $232 million. According to data in i3, United Kingdoms top deals and their investors were: Plaxica , an Advanced Materials company, raised $12.6 million from Imperial Innovations , NESTA , and Invesco Perpetual in a growth equity round Sefaira , an Energy Efficiency company, raised $9.2 million from Silicon Valley Bank , Braemar Energy Ventures , Chrysalix SET , and Hermes GPE in a debt & equity round Clean Air Power , a Transportation company, raised $7.8 million from Ervington Investments in a growth equity round Syrinix , a Water & Wastewater company, raised $3.1 million from Low Carbon Innovation Fund , Angel CoFund , and London Business Angel Network in a Series A round Synthace , an Advanced Materials company, raised $2 million from Sofinnova Partners in a seed round Efficiency continues to shine in 2013, leading the cleantech sector in terms of number of deals completed. Transportation saw considerable traction in Q3 2013, thanks in large part to Ubers $258 million funding round led by Google Ventures and TPG Capital, said Sheeraz Haji, Chief Executive Officer of Cleantech Group. Our i3 market intelligence platform reports that investor interest in software or cleanweb technologies is starting to scale, while the Agriculture and Advanced Materials sectors are making strong headway and are well-positioned to gain significant market traction in the years to come. i3 tracks the latest deals, trends, and insight into innovation, with data for over 22,000 companies across 18 sectors. The product also allows users to identify innovation clusters around the world, drill down into taxonomy for 18 sectors, and pursue company discovery. While the bulk of the data is only accessible by subscribers, a subset of data has recently been made available in i3. About Cleantech Group Inc. Cleantech Group helps clients accelerate sustainable innovation. The companys i3 market intelligence platform, which tracks over $7 billion of deal flow across 22,000 cleantech companies annually, allows subscribers to discover companies and explore resource technology trends strategically with proprietary real-time data. Cleantech Forums bring together thought leaders and innovators in the cleantech and sustainability ecosystem. The companys Advisory Services leverage expertise in designing and executing corporate strategies for sustainable growth and innovation sourcing. Details at www.cleantech.com Contact:
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Cleantech Investment in United Kingdom Tops $36 Million in 3Q13
National Grid operates as many as 60 of the gas-fired turbines at 23 compressor stations and has changed its strategy on a Gas Chromatograph (“GC”) replacement project to cancel the GC’s and replace them with GasPTi devices, following a review of the latest GasPTi performance. By providing almost real-time data to the control processor, the GasPTi, using the proprietary GasPT2 and VE-Probe technologies, allows the operator to tune a gas-fired turbine in such a way as to create far better efficiencies and far lower emissions. This sale represents the first retail sales by Orbital-UK of the GasPTi for this specific “engine-control” application. Roger Wood a Senior Gas Quality Engineer with National Grid explained that, “The Gas PTi removes ‘the steps’ we currently have in data from the gas chromatographs; this is a major advancement in providing control for these engines. The GasPTi also helps us to reduce our operating costs, which is currently an important initiative for the company” According to industry analysts, the Global installed base for natural gas-fired turbines was approximately 46,000 units as of 2009. That figure is expected to reach 57,000 units by 2018, with associated maintenance costs rising from $18.3 billion in 2009 to as much as $25 billion by 2018. As explained by Orbital’s Managing Director, Andrew Ridge, “This order represents our first retail sales into the gas turbine market and continues our partnership with National Grid. That partnership is designed to create efficiencies, reduce costs, and improve the services provided by National Grid to its customers throughout the United Kingdom.” CUI Global’s president & CEO, William Clough, stated that, “By continuing to associate ourselves and our GasPTi device with energy providers as respected as National Grid, we continue to prove the viability and value of our GasPT2 and VE-Probe technologies. The GasPTi is especially applicable to the natural gas-fired turbine sector because of its value proposition and the ‘real-time’ nature of its analysis.” “We believe that these retail orders by such an industry stalwart for this specific application (engine control) is the beginning of our penetration into this exciting new market and will only enhance our ability to approach other large turbine operators in the future,” Clough concluded. About CUI Global, Inc. Delivering Innovative Technologies for an Interconnected World . . . . .