I had to listen a couple of times.
First listen: I like where this is going, it just never gets there. It is repetitive, which is not always bad but I would say layer some more instruments on with each bar to keep it interesting. Try pads, synth leads, or even acoustic instruments.
Second Listen: I do hear the layering now, but the song lacks a melody, which could really help, unless its ambient you're going for. Also, from 1:09 till the end of the track should be a progression, with added complexity, instead it regresses and we get less complex.
Just my thoughts. Not bad for a skeleton of a song, just needs to be fleshed out.