UGE International

UGE International is a worldwide distributed renewable energy company, founded in 2008, with headquarters in New York City and Toronto, and a local office in the Philippines. As of 2018, the company has installed 380MW of solar energy worldwide and completed more than 630 projects.[1]

UGE International
IndustryRenewable energy solutions
Founded2008
HeadquartersNew York, NY,
New York
,
United States
Number of locations
Toronto, Cebu
Area served
Worldwide
Key people
Nick Blitterswyk, CEO
ProductsSolar panels, energy storage, power management systems, remote monitoring systems
ServicesCommercial solar energy projects
Number of employees
100–150
Websitewww.ugei.com
UGE International CEO and founder at a conference

Services

The company provides turn-key solar solutions for commercial and industrial (C&I) purposes that can range in size anywhere from 300 kW to 5 MW and cover projects falling anywhere in-between residential and utility-scale. Beyond turn-key solutions, the company also provides procurement, construction (EPC) and engineering services as a global business line, which is unlike its other business lines which primarily serve the US, Canada, and the Philippines.[2][3]

Financial - TSX listing

In 2014 the company was publicly listed on the TSX Venture Exchange (TSX:UGE.V).[4][5] The Haywood Securities initiated research coverage on the company in November 2017, setting a target share price of $1[6] and in June 2018, the SeeThru Equity initiated coverage with a price target of C$1.02 / $0.78.

Capitalization timeline

In August 2013, the company raises $20m fund from Tamra-Tacoma Capital Partners (now Energent L.P.) to provide financing for uge’s fast-growing telecoms segment[7] and secured $5M investment from Energine in April 2014.[8] In March 2015, the company closed its non-brokered private placement of units (the "Units") at $1.50 per Unit for aggregate gross proceeds of CAD 1,784,751.[9] The company acquire all of the issued and outstanding equity shares of Endura Energy Project Corp. In February 2016.[10]

In 2017, UGE signed a $15 million contract with Peterborough Utilities that become one of the largest contracts in their history.[11] The company also signed an agreement with a syndicate of underwriters the same year according to which the underwriters agreed to purchase three million units from the company at 60 cents per unit on a bought deal private placement basis for aggregate gross proceeds of $1.8-million.[12]

References
  1. "Solar firm appoints new board director". The Freeman.
  2. "UGE Leverages Engineering Expertise to Help New Markets Transition to Solar Energy". Bloomberg.
  3. "How Clean Energy is Saving Commercial Businesses Money". Construction in Focus.
  4. "UGE International Ltd". TSX Inc .
  5. "UGE International Ltd. (UGE.V)". Yahoo Finance.
  6. "UGE International Ltd. (UGE-V, C$0.46)" (PDF). Haywood Securities Inc.
  7. "Urban Green Energy Secures 20M Investment". UGE.
  8. "Urban Green Energy Secures 5M Investment Ahead of Public Listing". New Energy World Network.
  9. "UGE International Ltd. Announces Increase in Size and Closing of Private Placement". Market Wired.
  10. "UGE Announces Closing of Short Form Prospectus Offering". UGE International Ltd.
  11. "UGE to develop 15 PV projects in Ontario". PV Tech.
  12. "UGE Int'l arranges $1.8-million private placement". Stockwatch.
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