SOURCE: Titan Energy Worldwide

November 19, 2008 10:01 ET

Titan Energy Worldwide Announces $203,000 in New Orders

Orders Include Award-Winning Bi-Fuel Power System

MINNETONKA, MN--(Marketwire - November 19, 2008) - Titan Energy Worldwide (OTCBB: TEWI) announced today that its subsidiary, Titan Energy Systems, has received two new bookings on emergency power systems, including an order for one of its state-of-the-art Bi-Fuel systems. Together, these bookings represent $203,300 in revenues for the Company. Titan Energy Systems is a full line sales and service provider of power generation equipment with headquarters in Minnetonka, Minnesota and satellite offices in Nebraska and Iowa.

The single 600kW Bi-Fuel power system, with a run-time of 62.25 hours at full load, will supply backup power to the Buffalo County Courthouse in Kearney, Nebraska. The Bi-fuel power system starts on diesel fuel and then operates off natural gas as the load is applied, with the natural gas component extending the run time of a typical fuel tank as much as 300%. The advantages of an extended run-time and lower emissions profile of natural gas were primary factors in securing this order.

Tom Vagts, Chief Operating Officer of Titan Energy Systems, stated, "The Bi-Fuel power system offers an innovative backup power solution by combining the full power of a diesel engine with the much lower emissions profile of natural gas. The smaller fuel tanks mean easier permitting and fewer environmental concerns while greatly extending the operating times per tank of fuel. With increasingly stringent requirements on businesses to 'go green' and 'be more environmentally friendly,' the Bi-Fuel product gives Titan a competitive advantage in our market place."

Titan has also received an order to supply a 150kW natural gas generator to provide backup power a manufacturing facility in Kearney, Nebraska.

The Bi-Fuel Power System and natural gas engine will be manufactured by supplied by Generac Power Systems of Waukesha, Wisconsin. The Generac Bi-Fuel technology was awarded Product of the Year by several industry groups for consulting-engineers when the product launched in 2005. More information on the Titan Energy Systems and its product line can be found at www.titanenergysystems.com

About Titan Energy Worldwide, Inc.

Titan Energy is a leader in the manufacturing, marketing and servicing of energy generation products and services, a major participant in the distributed, renewable, and alternative energy industries, and a leader in development and support for new energy-related technology. Founded in 2005, Titan combines engineering expertise, established sales and distributorships, service operations and unique strategic partnerships to meet the growing global demand for clean, efficient, energy solutions. Titan serves disaster recovery first responders, relief agencies, homeland security, the department of defense and municipalities. For more information, visit the company's website at www.titanenergy.com.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of TEWI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future TEWI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and TEWI has no specific intention to update these statements.

Contact Information

  • For more information about Titan Energy Worldwide please contact:
    Julie Kane
    Titan Energy Worldwide, Inc.
    248-446-8557
    Email Contact