UGE International
UGE | Empowering you with renewable energy.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
* | $72.0m Valuation: $72.0m 17.8x EV/Revenue -8.4x EV/EBITDA | Buyout | |
| Total Funding | 000k | ||
| USD | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | (69 %) | (72 %) | 88 % | 42 % | (68 %) | 234 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (34 %) | (175 %) | (154 %) | (167 %) | (869 %) | (211 %) | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (50 %) | (69 %) | (154 %) | (194 %) | (1162 %) | (335 %) | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | - | 9 % | 5 % | 11 % | 106 % | - | - |
Source: Company filings or news article, Equity research estimates
UGE International is a developer, owner, and operator of commercial and community solar and battery storage projects. Founded in 2008 by CEO Nick Blitterswyk, the company was established to address global energy challenges through distributed renewables. Blitterswyk, who grew up in a nature reserve in Canada and later became an actuary at firms like JPMorgan and AIG, channeled his passion for sustainability and financial expertise into the venture.
The company's core business revolves around a vertically integrated, full life-cycle approach. UGE develops, engineers, finances, builds, owns, and operates its solar projects. This model targets two primary client types: landowners and building owners who lease their space for project hosting, and residential or commercial off-takers who subscribe to the generated clean energy, often at a lower cost than utility rates. Revenue is increasingly generated from recurring energy sales from its operational portfolio, marking a strategic shift from its legacy business of third-party Engineering, Procurement, and Construction (EPC) contracts. The company operates primarily in the U.S. across several states and has a presence in the Philippines.
UGE's offerings include rooftop and ground-mounted solar installations, with a growing focus on community solar and integrated battery energy storage systems (BESS). Community solar projects allow multiple subscribers to benefit from a single solar installation, expanding access to renewable energy. The integration of battery storage adds significant value, enhancing grid resilience and providing additional revenue streams. A key milestone was the 2024 acquisition of a majority stake in UGE by NOVA Infrastructure, an investment firm focused on the middle market. This transaction provides capital to support the expansion of UGE's project portfolio. The company, which has been publicly listed on the TSX Venture Exchange, has completed over 700 projects, representing more than 500MW of experience globally.
Keywords: community solar, commercial solar, battery storage solutions, renewable energy development, solar project financing, distributed energy, solar energy operator, energy infrastructure, project development, solar asset management, rooftop solar, ground-mount solar, renewable energy subscription, energy storage systems, solar EPC, clean energy projects, U.S. solar market, renewable energy investment, solar portfolio, sustainable infrastructure, energy generation