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UGE International Ltd CEO sees billion-dollar potential in NYC commercial solar market

The solar energy company has grown 260% in the last year
Worker installing solar panels
UGE International Ltd plans to grow five times more in the next three years

UGE International Ltd (CVE:UGECEO Nick Blitterswyk sat down with Proactive Investors on Monday to discuss the potential in the greater New York City commercial solar market.

The renewable energy company was founded in 2008 and provides energy solutions to clients in the US, Canada, and the Philippines. The company charges customers a low rate for the energy produced from its solar panels.

"In the greater New York City market, we've mapped out every potential building for us to go after and we see the greater New York City market to be about a $1.2 to $1.5 billion dollar market just by itself," said Blitterswyk. He estimates that just around US$10mln worth has been built in the area so far.

The solar energy company, which has offices in both New York City and Toronto, has grown 260% in the last year, with plans to grow at least five times more in the next three years.

Shares of the company were up 6.82% on Monday afternoon.

UGE International will be presenting at the New York City Microcap Conference on April 9 and 10.

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UGE International, Inc. Timeline

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