Toronto, Ontario--(Newsfile Corp. - January 24, 2017) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), today released preliminary selected financial information for the fourth quarter ended December 31, 2016, including estimates for revenue and backlog as well as additional commentary. UGE reports all amounts in US dollars, unless otherwise noted.

Revenues for the fourth quarter of 2016 were approximately $3.5 million, making it the Company's largest revenue-generating quarter in its history. Previously, the Company's largest revenue-generating quarter from continuing operations¹ was $1.5 million in the second quarter of 2016, and $2.7 million when including discontinued operations¹ in the third quarter of 2015.

2016 fourth quarter results were driven by progress made on projects that included RISE:NYC, which consists of 17 microgrid sites in New York, and the SolarShare FiT3 portfolio in Ontario.

"As we stay focused on scaling revenues and profitability considerably in 2017, we are excited to see our revenues markedly increase in Q4," stated Nick Blitterswyk, CEO of UGE. "We look forward to showing even stronger results throughout 2017."

As at December 31, 2016, UGE's order backlog was $34.8 million. Full audited results for 2016 will be released in April, 2017.

¹ Excludes results and values associated with the divestment of UGE Holdings Ltd., the Company's former wind-focused subsidiary, as described in the press release issued September 6, 2016 and reported in the interim consolidated financial statements for the quarter ended September 30, 2016.

About UGE

UGE delivers immediate savings to businesses through cleaner electricity. We help commercial and industrial clients become more competitive through the low cost of distributed renewable energy. With over 330 MW of experience globally, we work daily to power a more sustainable world.

Visit us at www.ugei.com.

For more information, contact:
Jimmy Vaiopoulos
Chief Financial Officer
917-720-5685
investors@ugei.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for UGE's products and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from UGE's expectations and projections.