UGE to Install Solar at Brooklyn’s Largest Church
New York, NEW YORK -- (September 13, 2016) - UGE International Ltd. (“UGE”) (TSX VENTURE:UGE) (OTCQB:UGEIF), a leader in renewable energy solutions for the commercial and industrial sector, today announces that it has secured a contract to build a 261 kW rooftop solar project for Christian Cultural Center (“CCC”), a spiritual institution located in Brooklyn, NY.
Christian Cultural Center is the largest evangelical church in the New York region and one of the largest independent churches in the United States, with over 37,000 members in its congregation. Founded in 1979 by current Senior Pastor Dr. A. R. Bernard, the facility sits on an 11-acre campus, with ideal space for a rooftop solar installation.
“Our mission is to demonstrate the love and compassion of Christ through humanitarian works and social engagement,” explained Senior Pastor, Rev. A. R. Bernard. “As Brooklyn’s largest church, we hope that our embrace of renewable energy will illuminate the path to a more sustainable future for our community, as well as serve as an example for other faith-based communities.”
The UGE-designed solar PV system is expected to generate more than 330,000 kWh of clean energy per year. Over the lifetime of the system, this will eliminate more than 5,264 metric tons of carbon dioxide, the equivalent of emissions from 12.5 million passenger vehicles or the amount sequestered by planting more 134,000 trees.
“It is an honor to work with CCC. The Church is demonstrating a strong commitment to sustainability for its congregants and community by going solar,” said Tim Woodcock, Regional Director for UGE. “Solar is already saving money for organizations across New York, and we’re thrilled to help CCC to reduce their energy costs in a way that allows them to dedicate precious resources to advancing their mission.”
UGE expects to complete the project over the next six months; the client has requested that we do not disclose the total revenue expected to be generated by the project.
UGE is also pleased to announce that it has retained Trapeze Capital Corp. to provide market-making services in accordance with TSX Venture Exchange (“TSX.V”) policies. Under the terms of the agreement dated September 13, 2016 (the “Agreement”), Trapeze will receive compensation of $5,500 per month and will not receive any Common Shares or options of UGE as compensation. However, Trapeze and its clients may have or may acquire a direct interest in the securities of UGE. UGE and Trapeze are unrelated and unaffiliated entities; Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of TSX and a member of TSX.V. The capital and securities required for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for a term of 6 months and will automatically renew for additional 6 month periods unless terminated by UGE.