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]
Industry | Renewable energy solutions |
---|---|
Founded | 2008 |
Headquarters | New York, NY, New York , United States |
Number of locations | Toronto, Cebu |
Area served | Worldwide |
Key people | Nick Blitterswyk, CEO |
Products | Solar panels, energy storage, power management systems, remote monitoring systems |
Services | Commercial solar energy projects |
Number of employees | 100–150 |
Website | www |
![](../I/m/UGEInternational.jpg)
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
- "Solar firm appoints new board director". The Freeman.
- "UGE Leverages Engineering Expertise to Help New Markets Transition to Solar Energy". Bloomberg.
- "How Clean Energy is Saving Commercial Businesses Money". Construction in Focus.
- "UGE International Ltd". TSX Inc .
- "UGE International Ltd. (UGE.V)". Yahoo Finance.
- "UGE International Ltd. (UGE-V, C$0.46)" (PDF). Haywood Securities Inc.
- "Urban Green Energy Secures 20M Investment". UGE.
- "Urban Green Energy Secures 5M Investment Ahead of Public Listing". New Energy World Network.
- "UGE International Ltd. Announces Increase in Size and Closing of Private Placement". Market Wired.
- "UGE Announces Closing of Short Form Prospectus Offering". UGE International Ltd.
- "UGE to develop 15 PV projects in Ontario". PV Tech.
- "UGE Int'l arranges $1.8-million private placement". Stockwatch.