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UGE International Ltd. (UGEIF) is a leader in commercial and community solar projects, providing cleaner energy solutions to businesses. With over 500MW of experience, UGE develops, owns, and operates projects globally to support sustainable energy consumption. In 2023, UGE significantly expanded its operational portfolio, reaching a record NTP on 18.2MW of projects. Despite a decline in total revenue, the company saw a 64% increase in recurring revenue during Q1 2024. UGE is focused on scaling its operational portfolio further in 2024, with approximately 20MW of projects under construction. The company's dedication to making renewable energy accessible and affordable underscores its commitment to a more sustainable future.
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UGE International announces the release date for its Q4 and fiscal year 2023 financial statements, followed by a live webinar hosted by CEO Nick Blitterswyk and CFO Stephanie Bird. The Company will present at the Planet MicroCap Showcase: VEGAS 2024 where CEO Nick Blitterswyk will also be speaking.
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UGE International achieves the 'Notice to Proceed' milestone for an 847kW rooftop community solar project in Queens, New York. The project, valued at USD$2.7 million, will offset over 1,000 metric tons of CO2 emissions annually and provide electricity to more than 200 homes. UGE will reserve 50% of the energy output for Low- to Moderate-Income subscribers, offering savings on electricity costs. The project marks UGE's sixth collaboration with Wildflower , showcasing a long-term partnership focused on sustainability and innovation.
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UGE International completes a 1MW community solar farm in Dover-Foxcroft Maine, becoming the largest rooftop community solar project in the state. The project will offset over 1,200 metric tons of CO2 annually, benefiting Foxcroft Academy and RSU 68 by reducing electricity costs and carbon footprints. UGE's operating portfolio now stands at 6.6MW with additional projects under development.
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UGE International Ltd. secures a USD$1 million grant from the U.S. Department of Agriculture for a 1.4MW ground-mount solar project in Smithville, Texas. This milestone marks the closure of project financing and all necessary approvals in place. The project, part of UGE's expansion in Texas, aims to provide cheaper, cleaner electricity to the City of Smithville through a Power Purchase Agreement.
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UGE International Ltd. completes a 376kW rooftop community solar project in Queens, New York, with a fair market value of USD$1.2 million. The project will offset more than 450 metric tons of CO2 annually and will provide meaningful electricity savings to underserved New York residents. UGE's operating portfolio now stands at 5.6MW, with an additional 17.7MW of projects currently in the construction and deployment phase of development.
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UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) announces milestones and business updates for the fourth quarter ending December 31, 2023. The company energized four new projects, reaching commercial operation on a 1MW project in Norway, Maine, and completing construction on three more projects totaling 1.8MW. UGE also closed project financing and term financing for three projects in New York, Maine, and Oregon, as well as two private placements of 9% secured debentures (Green Bonds) for gross proceeds of CAD$ 1,538,050 and USD$74,100 and USD$518,700. The company's operating portfolio now totals 5.3MW and will reach 6.6MW once the remaining two projects achieve commercial operation. Additionally, UGE's assets in deployment reached 10.3MW, with five projects reaching the mobilization stage of deployment, and the completion of development for a 1.4MW Texas project.
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UGE International Ltd. (UGE) has reached commercial operation on its 457-kilowatt rooftop community solar project in Peekskill, New York, with an appraised value of USD$1.4 million or USD$2.98/Watt. The project, situated atop Spare Cube, a self-storage facility, will serve as T-Mobile's anchor energy off-taker and reserve 50% of its energy output for Low- to Moderate-Income (LMI) subscribers. UGE will receive a grant through New York State Energy Research and Development Authority (NYSERDA)'s Clean Energy Communities program, and the project is expected to offset roughly 600 metric tons of CO2 annually. UGE's operating portfolio now stands at 5.3MW, with an additional 17.7MW of projects in development.
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UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) has completed construction and received Permission to Operate for three new rooftop community solar projects, totaling 1.8MW. The projects are in New York City and Dover-Foxcroft, Maine, and are now generating electricity and revenue for UGE. Final approvals are pending for each project to reach their Commercial Operation Date milestone.
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UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) Discloses Cash Commissions in November 2023 Green Bond Transaction
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UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) reported its financial results for Q3 2023, achieving NTP on 1.5MW of projects, increasing project backlog to 343MW, and closing a $5.9 million green bond offering. The company ended Q3 with 3.8MW of operating assets, contributing $110.7K and $401.5K of energy generation revenue with 90% and 91% gross margins, respectively. However, it realized total revenue of $247.6K and $1,066.8K, representing declines of 86% and 61% for the three and nine month periods, respectively, compared to 2022. The net loss for the quarter was $3.3MM, compared with $1.5MM for the same quarter of 2022.
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FAQ
What is the current stock price of UGE INTERNATIONAL (UGEIF)?
The current stock price of UGE INTERNATIONAL (UGEIF) is $1.425 as of February 7, 2025.
What is the market cap of UGE INTERNATIONAL (UGEIF)?
The market cap of UGE INTERNATIONAL (UGEIF) is approximately 49.2M.
What does UGE International Ltd. specialize in?
UGE is a leader in commercial and community solar projects, providing cleaner energy solutions to businesses.
What was the key highlight for UGE in 2023?
In 2023, UGE doubled the size of its operational portfolio and achieved a record NTP on 18.2MW of projects.
How did UGE perform in Q1 2024?
UGE ended the quarter with 5.6MW of operating assets, a 64% increase in recurring revenue over the same period of 2023.
What are UGE's goals for 2024?
UGE aims to scale its operational portfolio significantly in 2024 with approximately 20MW of projects under construction.
What sets UGE apart in the renewable energy sector?
UGE's dedication to making renewable energy accessible and affordable underscores its commitment to a more sustainable future.
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