Commercial and community solar energy solutions firm UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) announced in a news release that "the TMX Group has included the company in its 2021 TSX Venture 50 list of the top 50 performing companies on the TSX Venture Exchange."
UGE International noted that the TSX Venture Exchange's Top-50 list recognizes the top 10 performing companies across five sectors. Firms are selected after being evaluated based upon three equally weighted performance metrics: market capitalization growth, share price appreciation and share trading volume for the full year ending December 31, 2020.
The company advised that during 2020 its share price increased by nearly 1,500% and its market cap had increased about 2,100%. The company noted that the results it achieved were due to the overall momentum in the solar sector and through its ability to leverage its build-own-operate project development model while roughly quadrupling its project development backlog.
UGE CEO Nick Blitterswyk commented, "The TSX Venture Exchange has been a great platform for UGE International to operate and grow as a public entity, including the CA$7 million bought deal financing that we closed last week...Their capital markets support has allowed UGE to become a leading player in commercial and community solar, and we are honored to be recognized for our ongoing efforts. On behalf of UGE International and our investors, we would like to thank TMX Group for our inclusion in the TSX Venture 50 list."
UGE stated that it delivers low cost solar energy to commercial and industrial clients who benefit from long-term access to distributed renewable energy solutions with no upfront cost.
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