Now that shares of ABcann Global Corporation (TSXV: ABCN) are trading on the venture arm of the Toronto Stock Exchange (TSX), the company is creating more buzz than ever. On the same day it launched its initial public offering (IPO) (May 4), industry analysts PI Financial initiated coverage of the stock with a decidedly bullish report (http://nnw.fm/zcgG2) on the company. PI has put a “Buy” rating on the stock and set a one-year price target of $2.25, implying a return of well over 100 percent. The investment bank backs up this sunny prognosis with an in-depth look at ABcann’s value chain and Canada’s cannabis industry, by some accounts set to grow to $8 billion in sales by 2024.

ABcann Global recently acquired all the outstanding stock of ABcann Medicinals, a Canadian medical marijuana company licensed to carry on business as a producer and marketer of medical cannabis. ABcann Medicinals has strong fundamentals. It was a first mover in the Canadian cannabis space, obtaining a cultivation license in March 2014, just six months after Health Canada began inviting applications. In addition, it has collaborated with the University of Guelph in studies of the cannabis cultivation process. Consequently, the company has developed substantial institutional expertise, particularly in controlling quality and production costs and is now poised to add value in those areas and develop a competitive advantage.

ABcann’s institutional knowledge is already bearing results. The company’s computer-controlled growing environment produces optimum yields of 250 grams per square foot per annum, based on six crops a year. The industry interval is 60 grams on the greenhouse side, and 138 grams for indoor growers. ABcann’s growing technology controls a variety of variables, including air quality, carbon dioxide and oxygen levels, water quality and volume, light quality, temperature, humidity, and naturally enough, nutrition. As a result, the company is able maintain consistency in its product and to escape the ravages of pests with the attendant evil of employing toxic pesticides. In an interview earlier this year (http://nnw.fm/1llH4), CEO Aaron Keay revealed that one major advantage over its competitors that Abcann has, is its ability to produce consistent quality as it scales up.

ABcann has that potential to scale up. Its initial facility at Vanluven, currently producing 1,000 kilos annually, is expected to double production to 2,000 kilos by the end of 2017. The company also controls the 65-acre Kimmett property intended for further expansion. Health Canada has granted a license to build a 70,000-sq-ft facility, which is expected to produce 10,000 to 20,000 kilos per annum depending on whether single or double-layered grow rooms are constructed.

PI Financial expects ABcann Global shares to provide investors with a return of 181 percent based on the target price of $2.25. The target represents an EV/EBITDA of 15x based on its FY19 estimates. EV is enterprise value; EBITDA is earnings before interest, taxes, depreciation and amortization.

PI Financial’s 15x multiple, while large, is not far-fetched, as a look at ABcann’s peers shows. Shares of SupremePharma (XCNQ: SL) soared a stupendous 1,364% after their launch and the company’s market cap is currently 232 million. Aurora’s (TSXV: ACB) shares went up 887% after they began trading publicly and the company is now valued at $836 million. Shares of Aphria (TSE: APH) rose 938% after their debut; Aphria’s market cap is now $854 million. And shares of Canopy Growth (TSE: WEED) climbed 711% after the company’s IPO. Its valuation now stands at a whopping $1.38 billion. Canadian cannabis valuations appear to be taking to the skies. Could ABcann be next?

For more information, please visit www.ABcann.ca

One of the fastest growing industries in the United States in recent years, the legal marijuana market remains a highly attractive prospect for both entrepreneurs and investors, despite facing uncertain times as a consequence of the new administration’s position on cannabis use. Investors are actually expected to increase their investments this year, determined to push the market toward further growth. A recent GreenWave Advisors report notes that the industry will continue this trend even if the current administration will actively challenge it (http://dtn.fm/h7Pmr). Arizona-based holding company SinglePoint, Inc. (OTC: SING) is riding atop the marijuana investing wave, having recently completed yet another major acquisition that will solidify and expand its reach on the market.

The current state of the legal marijuana industry was discussed in depth at Marijuana Business Daily’s Conference and Expo earlier this month, with most investors, analysts and startups in the market admitting concern over the future, given the authorities’ position on the matter. President Donald Trump and other high-ranking officials have repeatedly talked about cracking down on the marijuana market, since the substance is still illegal at federal level. Marijuana use is however legal one way or another in at least 29 states, and stricter enforcement at central level would interfere with states’ individual legislation. No official position or measures have been announced yet.

While some expo participants were concerned they might see fewer investors coming to the market, most industry research points to a very likely increase in overall investments this year. The average investor is expected to invest roughly $500,000 in marijuana businesses this year, up from last year’s $450,000. Additionally, research indicates that legal marijuana retail sales will continue to grow, reaching $7.7 billion this year, according to GreenWave Advisors. The market is likely to top $30 billion by 2021, if medical and recreational marijuana is legalized all across the country. And even if the current administration takes on a more active stance against marijuana legalization, the market is still expected to reach $18 billion by 2021. Marijuana Business Daily research projects a more moderate, but still substantial revenue: $6.1 billion in retail sales for this year.

California alone could account for 40 percent of the market, the GreenWave Advisors research shows. The Golden State is turning into a hotspot for marijuana investments and businesses, as it moves to completely legalize recreational use next year. SinglePoint has already entered the Californian marijuana market following its latest acquisition. By acquiring 90 percent of Discount Indoor Garden Supply (DIGS), the company positions itself as a leader in marijuana consulting, equipment, retail stores and online products. The acquisition gives SinglePoint access to DIGS’s two brick-and-mortar stores and online shop, as well as to a third store likely to open in the near future. This investment not only demonstrates SinglePoint’s ability to grow its investment portfolio strategically, but also provides the company with a new and consistent source of revenues to help fund future acquisitions.

The DIGS investment follows another major strategic acquisition for SinglePoint: that of Convectium, the manufacturer and distributor of an innovative equipment and packaging solution in the cannabis industry. Convectium’s unique cartridge and vape pen filling machines is revolutionizing the traditional, manual cartridge filling method, as it can fill more than 100 cartridges in 30 seconds.

SinglePoint also has a strong presence on the marijuana payment solutions market via its subsidiary SingleSeed. A provider of various state-of-the-art non-cash payment and marketing tools for the medical and retail marijuana market, SingleSeed’s declared goal is to help businesses on the market thrive, while also helping to legitimize the industry and educating customers and business owners on key issues in the market.

For more information visit the company’s website at www.SinglePoint.com

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Archaeological research suggests that Cannabis Sativa, the source plant for cannabidiol (CBD) compounds, was one of the first agricultural crops planted by early man near the birth of agriculture some 10,000 to 12,000 years ago. The use of CBD for health benefits extends back several thousand years as well. CBD is one of more than 80 active cannabinoid chemicals in the Cannabis Sativa (marijuana) plant and is a part of the cannabis plant that does not produce euphoria or a “high”. Anecdotally, CBD has long been considered to have a broad range of medical benefits. Now, two major studies released in the last four months have scientifically validated the medicinal efficacy of CBD.

The New England Journal of Medicine just confirmed what thousands have attested to anecdotally for years (http://dtn.fm/0KOsd). The report shows that CBD dramatically reduced the number of convulsive seizures in children with a severe and often fatal epilepsy disorder. “The median frequency of convulsive seizures per month decreased from 12.4 to 5.9 with cannabidiol, as compared with a decrease from 14.9 to 14.1 with (a) placebo.” The results of the NEJM study follow a sweeping 400-page report released in January by the National Academies of Science, Engineering, and Medicine which covered more than 10,000 scientific studies on marijuana and medicine. The report’s conclusions that marijuana does have legitimate medical uses are supported by scientific studies that show cannabis and cannabinoids are effective at treating chronic pain and that cannabinoid substances were effective for treating chemotherapy-related nausea.

With medical efficacy questions resolved, smart money is now looking for avenues to profit from this explosive new medical market. The Hemp Business Journal (https://www.hempbizjournal.com/) recently projected that the CBD market will grow to a $2.1 billion market in consumer sales by 2020; a 700% increase from 2016 in the U.S. alone. Globally, the growth could be even stronger.

Recently, ChineseInvestors.com (OTCQB: CIIX) has made several interesting announcements highlighting the worldwide growth potential from its investments and commitments in the global cannabis industry. The recent launch of what management identifies as the “world’s first Cannabidiol (CBD) health products online store in the Chinese Language (www.ChineseCBDoil.com)” is a significant milestone for the company and the 2+ billion Chinese speaking people it serves. The company also launched a Chinese language Yelp-style mobile application that contains a location-enabled database of recreational and medical marijuana dispensaries, as well as a platform to review and discuss various cannabis products. ChineseInvestors.com is about to make its mark in the global CBD market.

Historically, ChineseInvestors.com has served as a specialized investment services company providing real-time commentary, analysis, and education-related services in the Chinese language. However, the company’s growth focused, long term quest for value add opportunities led it to stake out a position in the explosive new medical CBD market. With nearly two decades of brand recognition, a current user base of 100,000+ and a target market of nearly two billion Chinese speaking people, ChineseInvestors.com is well positioned to capture more than a fair share of the global Chinese speaking CBD market. Confirming this assumption, SeeThruEquity, a leading independent equity research firm, recently issued an update and increased its price target for CIIX to $3.75, “reflecting potential from the company’s legal cannabis initiatives.” Currently trading near a dollar a share, the upside seems obvious.

For more information, visit the company’s website at www.ChineseInvestors.com

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For retailers, the Internet has been a double-edged sword. On the one hand, it extends their marketing reach beyond physical boundaries, allowing them to target new customers. On the other hand, their customer base is open to sales pitches by faraway retailers. Whatever the net result from this boon and bane, the growth of the Internet presents another challenge. With over 1.2 billion websites and new sites being added by twos and threes every second, being found on online can be as difficult as finding the proverbial needle in a haystack. That is why, for small and medium-sized enterprises (SMEs), an intermediary like Moxian (NASDAQ: MOXC) is becoming essential. The company’s online-to-offline (O2O) Moxian+ platform has a bundle of features that use an online footprint to drive customers to brick-and-mortar retailers, reducing the need for costly SEO marketing. In addition, just like the bazaars and fairs of the medieval world, there’s a social element to the platform, encouraging shoppers to interact with each other and become part of a Moxian+ community.

Despite its growth, e-commerce still only comprises about one-tenth of total retail sales in the U.S. and in mainland China, where the bulk of Moxian’s operations are located. Consumers all over the world still enjoy going out to shop and, in any event, since services make up so much of commerce, it is impossible to stay at home and purchase them. Personal services, particularly, can only be delivered to the person.

This is where Moxian, with its innovative social media and marketing platform, comes in. The Moxian+ online platform is designed especially for small and medium-sized enterprises (SMEs) that provide personal services or tangible products that a shopper wants to touch and see before she buys. And the Moxian+ platform does much more than that. Merchant clients can access powerful data analytics on the demographics of customers and their buying behaviour. This is the burgeoning O2O landscape and Moxian is blazing a trail into it.

The Moxian+ platform is available through two apps, both of which can be accessed by mobile devices. Making its platform accessible by mobile devices is an important part of Moxian’s relentless strategy since smartphones and mobile devices have very high penetration rates in China. Indeed, China represents the world’s largest mobile market, with approximately 1.3 billion mobile phone users as of December 2015, according to the Ministry of Industry and Technology of China, representing handset penetration of approximately 95 units per 100 people. Moxian’s initiation report from SeeThruEquity (http://nnw.fm/gJl7w) reveals that China’s O2O market is currently around $48 billion with sales, at present, growing at an astounding 25% per annum.

Moxian is in the middle of a large sales push as it continues the commercial launch of Moxian+ that started earlier this year. The company recently opened an office in Beijing, and the company expects to have a sales team of 80 in place by the end of June, largely split between Shenzhen and Shanghai. The free version of Moxian’s platform is already in use by more than 30,000 businesses and 300,000 consumers, and sales efforts will be directed both to converting existing users to premium paid services and signing up new customers to try the platform. Moxian’s initial marketing forays have been in the mainland Chinese cities of Shenzhen and Beijing. But the company has plans for geographic expansion into Shanghai and Guangzhou, and is targeting a sales team of 100+ by the end of 2017.

Moxian was founded in 2013 in Shenzhen, China, and has branch offices in Beijing, Malaysia, and Hong Kong.

For more information, please visit www.moxian.com/index_en.html

Net Element (NASDAQ: NETE) yesterday said its PayOnline subsidiary has initiated payment acceptance services for international mobile network operator V-Tell. V-Tell will utilize various payment methods offered through the PayOnline platform, such as recurring billing and one-click payment solutions for V-Tell’s website and for its mobile application. V-Tell will additionally utilize the array of topnotch anti-fraud tools available through PayOnline. This newly forged business relationship with V-Tell is further evidence of Net Element’s prowess in offering a global payment acceptance platform that enables cross-border transactions via a full array of services.

Net Element has become a proven entity within the booming payments-as-a-service market, offering mobile payments and value-added transactional services within the United States and emerging countries. Net Element’s international strategy involves leveraging its omni-channel platform to bring flexible options to emerging markets that have varied banking, regulatory and demographic circumstances.

Working with V-Tell is a prime fit in furthering this aim. V-Tell is an international mobile operator engaged in providing services to customers across the globe. Through one V-Tell SIM card, subscribers can have an almost limitless number of personal phone numbers from any country that are permanently active on a single device. This facilitates unlimited communication, eliminating the borders between continents and countries through a roam-free network and allowing customers to access voice, SMS and Internet service anywhere in the world.

Net Element’s PayOnline subsidiary offers e-commerce, m-commerce and in-app payment services for all types of businesses throughout the world. V-Tell will be utilizing various payment methods through the PayOnline platform, including recurring billing and one-click payment solutions.

In addition to PayOnline, other Net Element companies include TOT Group, Unified Payments, Digital Provider, Aptito and Restoactive. The company’s mobile payments and value-added transactional platforms greatly simplify the lives of mobile phone users, enabling them to complete commerce transactions right on their mobile devices. Net Element’s online and offline payment capabilities further allow merchants to transact business anywhere in the world.

In 2016, South Florida Business Journal named Net Element one of the fastest-growing technology companies in the market, and Inc. Magazine identified Net Element as America’s fastest-growing private company in 2012.

For more information about Net Element, visit the company’s website at www.netelement.com/en.

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Holding company Player’s Network, Inc. (OTCQB: PNTV) on May 30 had the sixth highest volume on the OTCQB stock exchange (http://nnw.fm/B8bdC) after announcing that it had received its medical marijuana licenses to begin cultivation and production operations right away. The trend continued on May 31, when Player’s Network had the 10th highest volume on the OTCQB, up 9.2 percent and closing at $0.070 per share. Following yesterday’s news of a corporate milestone and first revenues, Player’s Network continued to climb, setting a new 52-week high of $0.075 at market close.

In a press release (http://nnw.fm/y8hOK) on Tuesday, Player’s Network said the medical marijuana licenses will allow the company to grow an unlimited amount of plant and to produce marijuana extracts and edible products in its 27,000-square-foot production facility located in North Las Vegas, Nevada. Cultivation and production operations would be conducted by Green Leaf Farms Holdings, LLC, where Player’s Network owns an 85 percent stake. Green Leaf Farms planned to begin planting operations immediately, with rosin and cold-water hash products to be the first products taken to the Nevada market in the near future.

In addition, PNTV followed this up on Thursday by announcing its first revenues and the awarding of Nevada licenses that allow the company to supply recreational marijuana products to Nevada-based retail dispensaries (http://nnw.fm/XMQ4u). Once distribution of recreational marijuana to Nevada dispensaries begins, as early as the first of July, this represents another source of revenue for Green Leaf and further opens the company to the burgeoning Nevada tourism market.

Player’s Network Director Brett Pojunis said the company expects the market to respond well to its products, as it has with other public companies that have gone through the same licensing process. Pojunis also said he expected the company to start generating significant revenue and that becoming fully operational after obtaining its cultivation and production licenses was a major milestone for Player’s Network. The sentiment was echoed by CEO Mark Bradley, who said the licensing finally allows Player’s Network to focus on its goal of developing high-quality brands within the medical marijuana industry. Bradley also voiced appreciation for the company’s production facility, which, he said, is likely to become one of the leading medical marijuana production hubs in the world once it is fully built.

A diversified holding company with a presence in the marijuana and media industries, Player’s Network focuses on developing profitable businesses in the cannabis industry. The company provides investors with various opportunities on the market and its current holdings range from startups to fully operational firms. A large part of its operations on the medical marijuana market, including cultivation and production of extracts and edibles, is conducted via Green Leaf Farms.

The company’s activity in the media sector is represented by wholly owned subsidiary WeedTV.com, a lifestyle channel and niche social network for the cannabis industry. The channel aims to be a leading source of information, products, services and entertainment for people interested in the marijuana industry and lifestyle.

Company division Marijuana Accelerator is also an important component of Player’s Network marijuana industry operations. A smart ecosystem specifically designed to connect investors and entrepreneurs to the company’s network, Marijuana Accelerator’s main goal is to identify resources for Player’s Network.

For more information, visit the company’s website at www.PlayersNetwork.com

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Diversified zinc fertilizer and silver producing green technology company Itronics (OTC: ITRO) recently announced it has commenced silver bullion production using e-scrap as a cost-reducing, precious metal-bearing raw material. E-scrap, which is ground-up computer circuit boards, is plentifully available and, therefore, offers a prime resource and an exceptional opportunity for the expansion of the company’s breakthrough recovery operation.

The bullion sales resulting from Itronics’ pioneering extraction process are anticipated to begin generating revenue for the company early in the third quarter of 2017. This new revenue stream will come online just as seasonal fertilizer sales start declining for the year.

Itronics is the creator and operator of a vertically integrated silver-bearing photoliquid recycling business that specializes in manufacturing specialty chelated liquid fertilizers, which are sold under the GOLD’n GRO brand, as well as pure silver bullion and silver-bearing glass. In essence, the company takes one of the most toxic liquid waste products produced in the United States and transforms virtually every bit of it into usable products. Sales of the environmentally beneficial GOLD’n GRO fertilizer are exceeding expectations, and this new revenue stream from silver bullion will bring yet another addition to Itronics’ revenues in the second half of 2017.

Using one of its large furnaces, the company has completed more than 20 test melts, which generated a portion of the silver bullion shipped by Itronics earlier this year and has since produce several hundred ounces more that have not yet been shipped. Because of the success of these test melts, Itronics has begun operating its second large melting furnace, as well. Both furnaces are currently in operation now, and the company is establishing an operating schedule for its bullion production, with current silver bullion production at an estimated 1,500 troy ounces per month.

The company continues to optimize its process and identify and implement potential furnace operation improvements on its way toward continual operation. Itronics tripled its “per melt” production between January and mid-April 2017, going from 500 ounces per month to 1,500. It is the company’s belief that further improvements in the coming several months could even further increase these “per melt” recoveries by as much as 50 percent. According to the Itronics bullion sales agreement, the time elapse from shipment to payment is about 60 days. Silver bullion shipped by the company during the second quarter of 2017 will be reported in Itronics’ third-quarter sales results.

It is anticipated that this new “zero waste” technology of using e-scrap as raw material will substantially increase both the profitability of Itronics’ silver recovery operation and the company’s revenues. Because of the cost-reducing attributes of this breakthrough recovery technology, Itronics’ silver bullion production segment may prove to be the stable, non-seasonal cash flow-generating revenue stream the company has been looking for. As the silver recovery operation grows, the addition of gold, palladium and copper will even further expand and stabilize revenues for Itronics.

For more information about the company, visit www.itronics.com.

Now that 29 states and the District of Columbia have legalized medical or recreational marijuana, or are on the way to doing so, the buzz in the industry is being supported with hard data. A new comprehensive report from Marijuana Business Daily (MBD) is replete with figures, charts, projections and analyses that support the upbeat ‘animal spirits’ in the industry. Titled the Marijuana Business Factbook 2017 (http://nnw.fm/L2Tnt), the paper projects that revenues from medical and recreational marijuana products will surpass $5 billion in annual sales for the first time in 2017. However, until federal statute allows, banks are unlikely to handle these “high risk” payments, which opens the door for innovative fintech companies like SinglePoint (OTC: SING) to step in. The company is positioning itself to be a ‘first mover’ in providing payment solutions to the cannabis vertical through its SingleSeed payments subsidiary.

The MBD report, summarizing the responses of more than 800 business owners, executives, entrepreneurs and investors, reveals a more uncertain industry outlook. In the 2016 survey, the hazard of federal intervention ranked as the third-most worrying challenge facing marijuana business owners. This year, that troubling threat is now their primary concern.

However, there is a silver lining as sales of recreational marijuana have been going up. Adult-use sales in Colorado and Washington, which became legal in both states in 2014, exceeded $1.5 billion in 2016. Voters in the two states approved the legalization proposals in November 2012. In 2017, total retail sales of all categories of marijuana are forecast to climb by 30 percent over 2016, ‘hitting $5.1 billion-$6.1 billion,’ according to the MBD report. And in 2017, recreational sales are expected to surpass medical for the first time. Since the banks do not want to facilitate these marijuana-related transactions, that leaves an awful lot of cash on the table.

With its suite of payment options, SinglePoint is poised to take some of that cash off the table. The company is offering innovative ways in which customers and patients can pay for all their marijuana purchases. Its SingleSeed payments subsidiary provides cannabis shops and dispensaries with solutions that closely resemble the typical debit/credit card terminal.

SinglePoint also provides Pay-by-Text technology, which facilitates both promotional outreach and payments. Pay-by-Text offers a swipe-less payment option to customers. The purchaser makes a payment by sending a text message to the payment provider, who clears the transaction with the vendor.

With these technological tools, SinglePoint is taking its ‘no touch’ approach to the cannabis industry a step further.

For more information visit the company’s website at www.SinglePoint.com

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A prescient report (http://nnw.fm/T19dA) from the Paris-based Organisation for Economic Cooperation and Development (OECD) lays bare the dearth of “basic” and vocational skills in the U.S. Despite a relatively high level of education, the U.S. experiences a weakness in basic skills when compared to other developed countries, according to the report. As a result, the authors of the study recommend making skills training for young adults more accessible, while linking this training to career development. This is exactly what vocational training company ProBility Media Corp. (OTC: PBYA) is doing. With its suite of training and test preparation solutions, the Texas-based educational technology company is out to develop the first full service training and career advancement brand for technical vocations and skilled trades.

ProBility is aiming to disrupt the technical vocations training and certification industry by creating the first full service training and career advancement brand in the technical fields. A major plank in this strategy is the development of online training programs employing virtual reality technology. In the HVAC field, for example, ProBility’s eLearning products under development include a full HVAC technician’s course that simulates the hands-on experience of a lab and physical school. This practical training is supplemented with a handbook produced by ProBility’s publishing division.

Details of the OECD report show the market opportunity America’s skills gap presents for ProBility. As expected, the ability to cultivate the aptitude needed to work at a trade is impeded if basic skills are lacking. Some math proficiency, for example, is required in most vocations, leading, generally, to a greater awareness and emphasis on developing numerate skills. However, literacy is just as important. Language is an important medium not just for learning but also for reasoning. Most of the time, our conscious cogitation is in verbal terms as we “talk” ourselves through a series of actions or a problem solving sequence. Having a command of grammar and syntax also aids in interpreting and assessing information. This may be why the U.S. also scored low on a related skill: problem solving in technology-rich environments.

More so than in other OECD countries, “socio-economic economic background has a stronger influence on adult basic skills.” However, basic skills are linked not only to employment outcomes, but also to personal and social well-being, the report goes on to point out. The odds of having low levels of health are four times higher for low-skilled U.S. adults than for those with the highest skills, a ratio that is twice the OECD cross-country average.

Other findings of the study point to opportunities for ProBility to deploy its extensive array of online training programs. Most (63%) low-skilled adults in the U.S. are employed, a higher proportion than in other countries. Consequently, they can be targeted through workforce development and evening adult programs. In addition, “participation rates in adult education and training are higher in the U.S. than in most countries at all skill levels, although, as elsewhere, low-skilled adults are less likely to participate.”

On par with these findings, ProBility is continually expanding the range of its training and testing services, through organic growth and by acquisitions, as it executes its strategy of defragmenting the vocational training industry. The company is positioning itself as a one-stop-shop for individuals, small- and medium-size businesses (SMEs), and large enterprise customers in the market for high-quality training services and materials to promote career advancement. ProBility is now, also, one of the largest wholesale supplier of electrical codes in the U.S. and provides exam preparation and certification in 22 states.

For more information, visit the company’s website at www.ProBilityMedia.com

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There are clear skies over the NYC headquarters of UGE International (OTCQB: UGEIF) (TSXV: UGE) as the energy solutions company continues to build its business organically and through acquisitions. UGE recently announced its first-quarter 2017 financial results, boasting record revenues of $5.5 million, up 903% over the prior year period. Now, the global provider of solar energy services is on track to take that top line even higher as its order book swells.

The solar power industry is driven by renewable portfolio standard (RPS) targets, state and federal tax credits, grants, and favorable public support for ‘green’ energy. A renewable portfolio standard (RPS), or renewable electricity standard, is a regulatory mandate to increase production of energy from renewable sources such as wind, solar, biomass and other alternatives to fossil and nuclear electric generation. The industry has experienced phenomenal growth over the past five years, achieving annual growth rate of approximately 76 percent from 2011 through 2016. A new report from GTM Research and SEIA (http://nnw.fm/bnLW5) indicates that rate could be trending even higher, revealing that the U.S. solar power market grew by 95 percent in 2016.

UGE is on the frontline of this industry as it powers its way into photovoltaic energy solutions; its recent financial results reflect that position. In the first quarter of 2017, UGE reported triple-digit growth in revenues (as noted above) and lowered its net loss to $0.4 million, compared to $1.7 million reported in the first quarter of 2016, marking the smallest loss in the last three years and bringing the company closer to profitability.

At March 31, 2017, the company also reported that its order backlog reached $31.6 million, of which $20.5 million were “confirmed” projects and $11.1 million of which were “contracted” projects.
“Our first quarter results further illustrate the progress we are making as a company to grow profitably in the commercial solar sector,” UGE CEO Nick Blitterswyk stated in the news release. “Our team continues to focus on growing and executing on our backlog, as our expectations for the future continue to grow as well.”

UGE provides services at all stages of the solar photovoltaic (PV) project lifecycle, including consulting and project management, engineering and design, turnkey construction, and development. The company has been engaged in a number of high-profile projects in the Northeast United States, Canada, Panama and the Philippines.

It was involved in the 84-panel installation that will provide 25.2 kW DC to the San Francisco campus of file-hosting company, Dropbox, and also undertook the utility scale ground mount installation at Sandringham and Woodville Solar Farms for Invenergy Clean Power of Ontario that will generate 25 MW (megawatts) of power. With a resume of over 130 commercial and industrial projects, UGE has already participated in installations with a capacity of over 280 MW.

With such a sunny prognosis, UGE’s share price has been on the rise, increasing by about 30 percent over the 12 months.

For more information, visit the company’s website at www.ugei.com