WINDSTREAM TECHNOLOG (OTCMKTS:WSTI)‘s winds failed to push its stock up as it ended up heavily bruised during the previous trading session. The company had released a press note last week announcing the first installation of its TowerMill technology in Nassau, Bahamas. The TowerMill represents the company’s pilot project, which is developed with the goal of providing energy to all the electronics so as to keep the tower running on a continuous basis.
The concept of TowerMill is borrowed from WINDSTREAM TECHNOLOG (OTCMKTS:WSTI)’s patented SolarMill, a renewable energy technology. The TowerMill, which uses wind and solar energy, is developed to ensure autonomous supply of power to telecommunications towers across the globe. The company claimed that its Bahamas-based pilot project has a capacity of 10KW and is deployed near area without the connection to any utility grid.
Thus, the TowerMill derives its power from both solar and wind energy and recharges batteries for up to 24 hours on a daily basis. After the successful deployment of TowerMill, the company is now working towards integrating it with the cell tower equipment. The task will be undertaken by Walker Industries, which is a leader in the solar energy space in the Bahamas.
Revolutionize the energy landscape
According to WINDSTREAM TECHNOLOG (OTCMKTS:WSTI), TowerMill will revolutionize the energy landscape in The Bahamas, where mobile carriers are struggling to overcome the challenges of providing smooth services in the wake of high diesel costs and fuel prices. Meanwhile, despite the efforts, the last published financial report by the company was less inspiring.
As per the quarterly report published for the period ended on September 30, 2014, WINDSTREAM TECHNOLOG(OTCMKTS:WSTI) reported sales of $373,538, which accompanied Net Loss of $1.48 million. Its cash balance during the sand period stood at $273,439, while total liabilities sit at $6.704 million.
The stock of WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) slipped by over 31% to $0.249 on the last trading session of the previous week, where 987,563 shares changed hands.