UGE International
| Company type | Public |
|---|---|
| Industry | Solar energy |
| Founded | 2008 |
| Fate | Acquired by NOVA Infrastructure in 2024 |
| Headquarters | New York City and Toronto , United States and Canada |
Area served | Worldwide |
| Products | Solar power and energy storage projects, engineering consulting services (via subsidiary UGEngineering) |
| Owner | NOVA Infrastructure (since 2024) |
UGE International is a worldwide solar energy firm established in 2008, with headquarters located in New York City and Toronto, and an additional office situated in the Philippines. By the year 2021, UGE had completed the installation of 500MW of solar power capacity through over 700 projects globally. In 2024, the company was purchased by the investment group NOVA Infrastructure.
Services
UGE specializes in the development, ownership, and operation of solar and energy storage projects serving both community and commercial sectors. Hosts for these projects include commercial institutions, landowners, and building proprietors, while both residential and commercial clients subscribe to access electricity generated by these systems. UGEngineering, a subsidiary of UGE, provides engineering consulting services within domestic and international markets.
Financial - TSX listing
The company became publicly traded on the TSX Venture Exchange (TSX:UGE.V) in 2014. Coverage was initiated by Haywood Securities in November 2017 with a target price of $1 per share, followed by SeeThru Equity in June 2018, which set price targets at C$1.02 and $0.78.
Capitalization timeline
In August 2013, UGE secured $20 million from Tamra-Tacoma Capital Partners (currently Energent L.P.) to support expansion in its telecommunications division. This was followed by a $5 million funding round from Energine in April 2014. In March 2015, the company completed a non-brokered private placement at $1.50 per unit, raising CAD 1.78 million. The acquisition of all equity interests in Endura Energy Project Corp occurred in February 2016.
In 2017, UGE landed one of its largest contracts worth $15 million with Peterborough Utilities. That same year, it conducted a bought deal private placement with underwriters for three million units at $0.60 each, generating gross proceeds of $1.8 million.