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News Update

TICKERS: UGE; UGEIF

Solar Energy Firm Reports It Is On Track for Best Year to Date
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UGE International's commercial operation on first self-financed projects and project backlog currently exceed $100 million.

In a news release, UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) provided a Q3/10 operational update, which includes project completions, new contracts and installation milestones.

In the United States, the energy company finished installing its first two self-financed solar projects in the country, which are rooftop systems in New Jersey.

In New York, UGE completed the mechanical work on two community solar systems in Staten Island and Queens, signed a new 340 kilowatt (340 kW) rooftop project in New York City and began mobilizing construction on a project in Westchester.

The energy firm landed four contracts in Maine, for two ground-mounted systems totaling 11.9 megawatts (11.9 MW) and two rooftop school systems totaling 1.7 MW.

In the Philippines during Q3/20, UGE completed its first self-financed project there. It also finished a 260 kW solar system and made significant progress on another 650 kW system.

During Q3/20, the accomplishments of UGEngineering, UGE's consulting services division, included finalizing a microgrid project concept design for an off-grid mining community, finishing initial design and pre-interconnection applications for a 378 MW portfolio in the Western U.S. and completing engineering drawings for a wastewater treatment facility in Toronto, Ontario.

At the corporate level, UGE used the proceeds from warrants exercised earlier in the year to settle an outstanding note. Additionally, at the company's annual general meeting, which took place on Sept. 18, 2020, shareholders voted in favor of all matters before them. One was the election of Peter Van Egmond Rossbach to UGE's board of directors.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UGE International. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with UGE International. Please click here for more information.
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