UGE International to Supply Microgrid Energy System for Leading U.S. Restaurant Chain
On-Site Solar Power and Battery Storage System Designed to Provide Cost Savings and Energy Security
NEW YORK, NY--(Marketwired - Jan 6, 2015) - UGE International Ltd. ("UGE") (TSX VENTURE: UG) (OTCQB: UGEIF) (www.ugei.com), a global leader in renewable energy solutions for business and government customers, has entered into an agreement to design and supply the solar energy system for a national restaurant chain with nearly 200 locations across the United States. The photovoltaic array will be part of a microgrid energy system, designed with UGE's modular technology platform, which can also provide at least three hours of off-grid backup power in the event of grid failure.
An advanced battery system will store clean energy produced by the solar panels, to be deployed during power outages. According to a report from Climate Central, weather-related outages have doubled in the U.S. since 2003, increasing demand for energy solutions that solve these challenges.
"Solar energy is ever more compelling from an economic standpoint, providing our clients with cost savings from day one. In addition, when combined with energy storage, we also improve energy reliability by meeting the critical demands of our customers' businesses," said Joshua Rogol, Director of Business Development at UGE.
The microgrid project, valued at over $700,000 USD, was confirmed in late December 2014 and is expected to be completed by mid-2015.
UGE is a leading developer of distributed renewable energy solutions for business and government clients with projects in over 90 countries, including several for Fortune 1,000 companies. Leveraging its proprietary technology platform, UGE deploys modular energy systems that solve clients' challenges at the nexus of cost, resiliency and sustainability. From solar and wind systems, to microgrids and off-grid lighting, UGE is the solution provider of choice for commercial energy challenges.
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Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for UGE's products and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from UGE's expectations and projections.