UGE Receives New Contracts in New York and the Philippines
New York City, Mar 22, 2019 (Issuewire.com) - UGE International Ltd. (TSXV: UGE, OTCQB: UGEIF) (the “Company” or “UGE”), a leader in solar energy solutions for the commercial and industrial sector, is pleased to announce it has received two new contracts to deploy solar systems for clients in New York and in the Philippines.
UGE received a contract from a repeat New York client to build an 82kW solar system on top of a mini-storage facility on Long Island, NY. The system will be installed over the next six to nine months, further growing UGE’s solar experience in the Northeast United States.
UGE received a contract from a new Philippines client, Neogrande, a manufacturer and exporter of dried noodles to build a 100kW solar system. UGE will be installing this system over the next six to nine months, further expanding UGE’s solar footprint in the food processing industry.
In both cases, favorable project economics are the primary drivers for clients adopting UGE’s low cost solar energy solutions. The projects will be engineered and built by UGE and are expected to generate at least US$300,000 in combined revenue, to be recognized as the projects are completed.
The Company has also reached additional project completion milestones. UGE has achieved Substantial Completion on an additional two sites in Peterborough, leaving just four sites left to complete in the coming weeks. In addition, UGE reached Substantial Completion at the third Nature Spring site in Laguna, the Philippines; at 1.25MW the project is the Company’s largest to date in that country.
“It has been a very busy start to the year, both for project milestones and for developing new solar projects,” said UGE’s CEO, Nick Blitterswyk. “We look forward to continued momentum growth in the coming months and throughout 2019.”
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