UGE International
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| 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 |
UGE International is a worldwide distributed solar energy company, founded in 2008, with headquarters in New York City and Toronto, and a local office in the Philippines. As of 2021, the company has installed 500MW of solar energy worldwide and completed more than 700 projects.[1]
The company develops, owns, and operates community and commercial solar & energy storage projects. Building owners, landowners, and institutional and commercial entities serve as site hosts for the solar projects. Residential and commercial off-takers subscribe to receive electricity from the solar projects.[2] UGEngineering, a subsidiary of UGE International, provides engineering consulting services to clients in the United States and abroad.[3]
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.
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]
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