UGE Announces New Hires as Business Gains Momentum in Growth Markets
Toronto, Ontario--(Newsfile Corp. - August 1, 2019) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in solar solutions for the commercial and industrial sector, is pleased to announce the following staffing changes based on growing volumes of business in the US and the Philippines.
Joining as the Managing Director of UGE Philippines is Enrique "Kits" Chuidian, Jr. Mr. Chuidian is a seasoned executive with over 20 years of leadership and entrepreneurial experience in various industries including construction, steel, utilities, and heavy industries. Most recently, he served as Vice President of Business Development at Aboitiz Construction, Inc., a leading construction company in the Philippines. Prior to this, he was the Country Manager for Stoller Philippines Inc., and the VP & General Manager for Puyat Steel Corp.
UGE Philippines has also shifted one of its leading salespeople from Cebu to Manila to take advantage of the growing opportunity in the capital region and added a senior project manager to lead construction of the projects underway in the region. As success continues, the head office in Cebu will expand and a new regional office in Manila will be established.
UGE Philippines Co-Founder, Tyler Adkins, has taken on the US-based role of Director of New Markets, where he will lead new business development initiatives and expand UGE's Green Bond offering, an investment product open to retail investors. Of particular interest is the commercial, industrial and community solar market in Maine, which recently passed a pro renewable energy policy.
UGE has also taken the bold step to further build on its competitive cost advantage by moving its drafting headquarters from Toronto to the Philippines. The drafting team supports UGE's engineering team, which remains based out of Toronto. Two seasoned solar engineers have joined the Philippines office; one to lead drafting, which supports UGE's global business, and the other to lead project engineering for the Philippines market. The Toronto-based engineering team has also added a project engineering manager, Valentine Aigbogun, formerly of Panasonic Eco Solutions.
UGE's COO, Robert van Duynhoven, noted: "As our momentum grows in the US and Philippines, we have been pragmatic in adding resources only when projects are secured as we remain steadfast on returning to profitability in the near future. As our project management and engineering expenses are allocated to cost of sales, we anticipate these changes having negligible effect on SG&A."
Cancellation of Options
In addition, the Company and certain board members and employees, including its CEO, Nick Blitterswyk, COO, Robert van Duynhoven, and board members Crescent Varrone and Michael Doolan, have agreed to cancel over one million previously granted options.
UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 380 MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.
For more information, contact:
+1 917 720 5685
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