CUI Global, Inc. announces it will change its name to Orbital Energy Group, Inc., effective immediately. The new name reflects the company’s strategic repositioning to become a diversified energy infrastructure services company. Orbital Energy’s common shares will continue to be listed for trading on the Nasdaq under the new ticker symbol OEG. In conjunction with the name change, the company will be launching a new corporate website at www.orbitalenergygroup.com.
The name change follows the company’s platform acquisition of Reach Construction Group, completed on April 1, 2020. Headquartered in Apex, North Carolina, Reach is an engineering, procurement and construction company with expertise in the renewable energy industry. The company believes the name Orbital Energy Group more accurately depicts its extensive capabilities and innovative products, evolving business and new brand—a brand that provides a wide range of energy infrastructure solutions.
“We are excited to change our name to Orbital Energy Group as part of our company-wide transformation,” says Jim O’Neil, vice chairman and CEO of Orbital Energy. “This rebranding marks a key milestone as we leverage our engineering and construction capabilities.”