Mass Megawatts Narrows Loss
Worcester-based Mass Megawatts Wind Power Inc. reported a 2008 net loss of $228,348 compared to a $327,954 loss the prior year.
The company noted that while it did produce revenue for the first time in 2008, the $27,008 in revenue was insignificant. The company reported an operating loss of $210,416 compared to $309,925 in the previous year.
Revenue from a wind power project the company is undertaking for the U.S. Army at Fort Huachuca in Arizona will be recognized in the company's 2009 fiscal year.
Mass Megawatts said its new wind power generating system reduces equipment and generation costs to the point where its turbine technology is "directly competitive with fossil fuel power plants such as coal and natural gas" and can be used in more locations than traditional wind power plants.
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