UGE International Ltd. (UGE:TSX.V; UGEID:OTCQB) announced in a news release that it was awarded a new solar energy project by an existing customer, The Robin Group, in the Philippines.
This addition, of 395 kilowatts at peak capacity, to the toy manufacturer's solar energy portfolio makes it the largest outside of North America for UGE.
Installation of the system, for The Robin Group's facility in Cebu, is slated for H1/20. Revenue to UGE for the project is about $0.4 million. "Gross margins are estimated to be in line with the company's 2020 goals for projects purchased by end user clients," the release noted.
UGE stated that it is discussing further expansion opportunities with The Robin Group, "providing Robin the opportunity to take further advantage of the economic and environmental benefits of solar power."
[NLINSERT]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.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional, and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UGE International, a company mentioned in this article.
