VPS Raises $17 Million in Growth Capital Led by CUI Global to Speed Adoption of Software Defined Power Solutions

Milpitas,Calif. – March 18, 2019 – Virtual Power Systems (VPS), creator of Software Defined Power®(SDP), today announced it secured $17 million in Series B Financing led by CUI Global with participation from the majority of existing investors. This round of funding will extend VPS’ technology leadership whileaccelerating R&D and marketing efforts to convert the world’s largest datacenters as VPS customers.  

“This latest financing reinforces investor confidence in ourability to set new standards in power infrastructure efficiency and economics,”said Steve Houck, CEO of Virtual Power Systems. “As the SDP category leader, weare driving rapid market adoption through a robust ecosystem of powerinfrastructure hardware partners while transforming data center powermanagement and utilization, enabling the next generation of Software DefinedData Centers.”  

As the pioneer in virtualizing power, VPS enables energy to be reallocatedon-demand to data center racks, nodes, workloads or circuits using AI andmachine learning to predict and respond to changes in power capacity and demand.SDP-enabled power components, including uninterruptible power systems,generators, power distribution units, battery backups and power supply units, can react quickly and effectively to suddenshifts and surges in power usage patterns.

“VPS and CUI share the vision that the convergence of data center powerinfrastructure and software will dramatically improve how energy is provisioned, managed and utilized in moderndata centers,” said William Clough, president, andCEO of CUI Global. “Together, we’ve set an aggressive pace for advancing thetechnology and expediting the availabilityof Software Defined Power technology.”

In addition to CUI, VPS is collaborating with the majority ofpower infrastructure and IT vendors to integrate VPS Intelligent Control ofEnergy® (ICE) software into proven power hardware and software systems. Recent integrations with Artesyn Embedded Technologies,Schneider Electric, CE+T and VMware are examples of partnerships that willdrive market and customer adoption while bringing hyperconvergence to data centerpower infrastructures. The result: VPS will lead dramatic innovation withinpower infrastructures to complete the final pillar of Software Defined DataCenters.

“SDPaddresses one of the biggest challenges facing data centers today,” saidJennifer Cooke, Research Director, Cloud to Edge Datacenter Trends andStrategies, at IDC. “We have witnessed how software defined and hyperconverged solutions from companies, suchas VMware, Microsoft and Nutanix, havedramatically improved data center operational efficiency across compute,network and storage. VPS is pioneering a similar approach by virtualizing data centerpower infrastructure using machine learning and AI.”  

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AboutVirtual Power Systems

Virtual Power Systems (VPS) is transforming how next-generation datacenter and cloud providers provision,manage and utilize power capacity with its ground-breaking Software DefinedPower® and Intelligent Control of Energy® (ICE) technology platform. VPSeliminates the need to over-provision power as ICE dynamically adjusts power deliveryas demand fluctuates across data-center workloads, servers and racks. ICE enables data center and cloudproviders to generate significant additional revenue within existing power andIT footprints while avoiding millions of dollars in capital expenditures and operatingexpenses. Additionally, VPS empowers enterprise customers to reduce powerinfrastructure wait times and costs.

AboutCUI Global, Inc.

Delivering Innovative Technologies for an Interconnected World . .. . .

CUI Global, Inc. is a publicly traded company dedicated tomaximizing shareholder value through the acquisition and development ofinnovative companies, products and technologies. From Orbital Gas Systems’advanced GasPT® platform targeting the energy sector, to CUI Inc.’s digitalpower platform serving the networking and telecom space, CUI Global and itssubsidiaries have built a diversified portfolio of industry leadingtechnologies that touch many markets. As a publicly traded company,shareholders are able to participate in the opportunities, revenues, andprofits generated by the products, technologies, and market channels of CUIGlobal and its subsidiaries. But most importantly, a commitment to conductbusiness with a high level of integrity, respect, and philanthropic dedicationallows 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

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