Making the transition from a small company with a dream to a thriving concern on the move is never an easy task. There are bound to be miscues and readjustments before the best model is found. If the idea and concept are sound, however, this type of company will overcome and become a profitable participant in the marketplace. Keeping an eye on its progress is the key.
Worldwater & Solar Technologies Corp., a solar engineering and project management company, works to manufacture and install solar power systems both domestically and internationally. The company manufactures and sells both solar power systems and solar water power systems.
In a general sense, the company operates in two divisions, solar power project management for commercial and residential customers, and independent solar systems directed at the pumping and management of water. Its water systems include stand-alone products which pump and/or filter water in conditions that may be removed from fixed sources of power. These systems include: Aqua Max for irrigation pumping, refrigeration and cooling; AquaDrive for AC/DC current conversion; MobileMax Power for power generation at remote pumping stations; and MobileMax Pure, which is designed for contaminant and particle filtration. The company, however, focuses on its residential and commercial projects in tandem with recently acquired ENTECH Inc.
In recent posts, a discussion of the company’s bidding and project concentration practices was undertaken. Since that post, the company has solidified its position and begun a more directed approach to its operations. Its largest project, located at the Denver International Airport, has been dedicated, and its California airport project has been accounted for. Where, in the past, the company was investigating international projects for its solar water pumping and filtration projects, it has now redirected its efforts toward the domestic commercial, industrial and residential markets.
Although the company is making significant strides in its redirection, emphasizing its move to a transparent going concern, it is still generating net losses. It has solidified its base with a manufacturing facility to take advantage of ENTECH’s solar tracking capabilities, but has incurred increased head count and associated costs to make the move happen. The company is certainly making all the right moves, but still needs to settle operations as it moves forward.
Perhaps the most impressive advance that the company has made since its last update is its announced ability to compete with typical power generators without tax benefits. ENTECH’s addition has let the company track the sun’s rays more efficiently and, as a result, reduce the amount of silicon and other materials needed for flat panel arrays to generate needed output. ENTECH’s arrival has also added a frequency regulation element to the company’s arsenal of offerings. Given that Federal tax incentives are in doubt for renewal at the end of 2008, this will allow the company to compete at an advantage.
As solar power works to find its commercial viability as an alternative energy source, Worldwater & Solar Technologies Corp. is making excellent progress in establishing itself as a leading player. The alternative energy markets have been having a rough go in recent months, as energy markets readjust, but Worldwater does appear to be getting over the hump and ready to be a long-term profitable player for some time to come.
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