A new market is one where a company can follow the herd or look for new and potentially profitable ways to take advantage of it. The easy way is to work within the more conventional end-use applications. The more difficult way is to step back, look for a need to fill within the market, and go after filling that need. This is the way to beat other companies to the punch and thereby profit by it.
Worldwater & Solar Technologies Corp., a solar-electric water and engineering company, works to offer solar power solutions to high-powered mechanical motor applications. When a high-power motor is needed to run an application, such as a water pumping system, the company provides a solar solution to powering that motor as circumstances dictate. The solar-powered systems that the company offers can run in several configurations; in combination with grid power, with grid power alone, on solar power alone, or as a supplement to the grid as a revenue generator.
The company has been awarded several projects through the past year, validating its patented technologies. Two of the company’s projects, Denver International Airport and Fresno Yosemite Airport, have either been completed or are in process. These two projects, however, proved to be learning situations, as the company found issues relating to its business and bidding processes. They did, in the end, prove the company’s technologies, and this has since lead to new contracts which were bid in more realistic terms. As a result of these projects and a firm belief that the company is moving forward in a profitable way, a private placement of Series F Worldwater stock was issues to the Querus Trust, generating $35.6 million. Full funding of the company going forward appears to be secure.
Although the company’s past projects have been more cosmopolitan in nature, the worldwide opportunities available to the company’s products are nearly limitless. Water issues are an increasing problem in many rural regions, where pumping of water for irrigation and other needs can mean the difference between a solid food crop and starvation. In many instances, a reliable source of power is nowhere to be found or, in many situations, less than adequate to provide the type of power needed to get the job done. Worldwater & Solar Technologies Corp. has found a niche within the developing solar market that has both economic and social benefits. It is a growing company filling a need and ready to profit by it.
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