Ms. Gabriela Suriano reports

UGE SECURES CONTRACT TO COMMENCE WORK ON MICROGRID PORTFOLIO IN NEW YORK

UGE International Ltd. has executed a contract for preimplementation services to build a series of renewable-energy-powered microgrids in New York.

UGE will deploy the solar-powered microgrid systems at 17 small businesses across the city, concentrated in Brooklyn, Queens and Staten Island. For each site, UGE will manage the project development and engineering work, ahead of project construction to start in 2017.

"Solar plus storage will be the backbone of our energy system, now and in the years to come," said Gabriela Suriano, project manager at UGE. "In these areas, the availability of low-cost energy generation with advanced battery storage offers a critical lifeline in the face of another extreme weather event. We are excited to be doing such important work for New York."

This initial project is expected to be completed over the next 12 months with a total contract value of $1.7-million (U.S.). The contract is part of a larger project grant that UGE announced it had received in May, 2015, from the New York Economic Development Corp.'s RISE: NYC program. After this initial phase, UGE expects to sign a follow-on contract for the actual deployment of the renewable energy systems, the value of which will be announced at that time.

We seek Safe Harbor.