UGE International
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{{Infobox company
| name = UGE International
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| area_served = Worldwide
| key_people = Nick Blitterswyk, CEO
| industry = Renewable energy solutions
| genre =
| products = Solar panels, energy storage, power management systems, remote monitoring systems
| services = Commercial solar energy projects
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| num_employees = 100–150
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| foundation = 2008
| location_city = New York
| location_country = United States
| location = New York, NY
| locations = Toronto, Cebu
| homepage = {{URL|www.ugei.com}}
}}
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.{{cite web|title=UGE Announces Q2 2021 Project Updates, Surpasses 500MW in Experience|url=https://www.wsj.com/articles/uge-announces-q2-2021-project-updates-surpasses-500mw-in-experience-01626087977?tesla=y|publisher=Wall Street Journal}} In 2024, UGE was acquired by investment firm NOVA Infrastructure.{{Cite web |last=Joseph |first=Irien |date=2024-05-29|title=Nova Infrastructure to take UGE International private |url=https://www.pehub.com/nova-infrastructure-to-take-uge-international-private/|access-date=2025-04-15|website=PE Hub |language=en}}
Services
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.{{cite web|title=UGE USA|url=https://www.ugei.com/ugeusa}} UGEngineering, a subsidiary of UGE International, provides engineering consulting services to clients in the United States and abroad.{{cite web|title=UGEngineering|url=https://www.ugei.com/ugengineering}}
Financial - TSX listing
In 2014 the company was publicly listed on the TSX Venture Exchange (TSX:UGE.V).{{cite web|title=UGE International Ltd|url=https://web.tmxmoney.com/quote.php?qm_symbol=UGE&locale=EN|publisher=TSX Inc .}}{{cite web|title=UGE International Ltd. (UGE.V)|url=https://finance.yahoo.com/quote/UGE.V/history?period1=1388552400&period2=1529899200&interval=1mo&filter=history&frequency=1mo|publisher=Yahoo Finance}} The Haywood Securities initiated research coverage on the company in November 2017, setting a target share price of $1{{cite web|title=UGE International Ltd. (UGE-V, C$0.46)|url=https://clients.haywood.com/uploadfiles/secured_reports/UGEOct312017.pdf?inf_contact_key=3e1c7ab36e61607450dd3754a38383395426ee34927cda4a287914a360339a5e|publisher=Haywood Securities Inc.}} 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{{cite web|title=Urban Green Energy Secures 20M Investment|url=https://www.ugei.com/news/urban-green-energy-uge-raises-20m-fund-tamra-tacoma-capital-partners-ttcp-provide-financing-uge|publisher=UGE}} and secured $5M investment from Energine in April 2014.{{cite web|title=Urban Green Energy Secures 5M Investment Ahead of Public Listing|url=http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/solar/urban-green-energy-secures-5m-investment-ahead-of-public-listing.html|publisher=New Energy World Network}} 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.{{cite web|title=UGE International Ltd. Announces Increase in Size and Closing of Private Placement|url=https://finance.yahoo.com/news/uge-reports-first-quarter-2018-113200895.html|publisher=Market Wired}} The company acquire all of the issued and outstanding equity shares of Endura Energy Project Corp. In February 2016.{{cite web|title=UGE Announces Closing of Short Form Prospectus Offering|url=https://www.ugei.com/news/uge-announces-closing-short-form-prospectus-offering|publisher=UGE International Ltd.}}
In 2017, UGE signed a $15 million contract with Peterborough Utilities that become one of the largest contracts in their history.{{cite web|title=UGE to develop 15 PV projects in Ontario|url=https://www.pv-tech.org/news/uge-to-develop-15-pv-projects-in-ontario|publisher=PV Tech}} 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.{{cite web|title=UGE Int'l arranges $1.8-million private placement|url=http://www.stockwatch.com/News/Item.aspx?bid=Z-C:UGE-2478370&symbol=UGE®ion=C|publisher=Stockwatch}}