SOURCE: Titan Energy

April 20, 2010 09:39 ET

Titan Energy Worldwide Announces First Solar Projects, Exceeding $1.2 Million in New York Tri-State Area

MINNEAPOLIS, MN--(Marketwire - April 20, 2010) -  Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in distributed power generation products and intelligent energy management services, announced today that it has signed more than $1.2 million in new solar projects in the New York area since the beginning of the year. These projects add to the Company's backlog of approximately one (1) megawatt (MW) of solar projects for installation in 2010.

"These projects demonstrate Titan Energy's commitment to renewable green power technologies and establish our company as a major provider of energy solutions in the New York/New Jersey area. With these new jobs alone we will surpass our stated goals for solar installations in 2010. Combined with several additional bids out there for new solar projects, we are establishing ourselves as a leading installer and system integrator for solar projects in the tri-state area," stated Clifford Macaylo, President of Northeast Operations for Titan Energy Worldwide. 

The Hudson Valley Community College project was a public bid project and involves 42 kW of photovoltaic panels to be installed on three buildings on the college campus. Installation is expected to be completed by the end of summer 2010. The Park Ridge School District project involves installation of 320 kW of solar panels on the elementary, middle and high schools in three separate arrays. 

"As solar continues to improve in its ability to compete with other traditional power generation sources, and as more companies and institutions make the decision to 'go green' with their energy plans, we expect this area of our business to grow substantially particularly in the tri-state area where there are major energy efficiency initiatives supporting these projects," added Mr. Macaylo.

About Titan Energy Worldwide, Inc.

Titan Energy Worldwide a provider of onsite power generation, energy management and energy efficiency products and services that help support and improve the performance of our nation's electrical utility grid. We operate in an area of the overall electrical utility infrastructure called Distributed Generation, whereby we specialize in the deployment of power generation equipment at the consumer's facility and the integration of that equipment through monitoring and communication systems with the needs of the utility's electrical grid. These onsite power generation systems support a customer's critical operations during times of power failure and serve as demand response systems that work to reduce energy usage and decrease demand on the electrical grid during peak periods. When managed with the proper intelligent monitoring systems and controls, Distributed Generation offers a vital and significant contribution to the development of the nation's Smart Grid. We contribute the tools and resources to produce immediate and long term improvements in the performance and stability in the energy production and transmission segments of the electrical grid and reduce the need for new power plants. From emergency and back-up power technologies, to demand response programs and Smart Grid applications, Titan Energy is setting a path for the future in energy management. For more information, please visit the company's website at: www.titanenergy.com.

Forward-Looking Statements

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:
    Jeffrey Flannery
    Titan Energy Worldwide, Inc.
    619-988-5869
    Email Contact

    Stan Altschuler
    Strategic Growth Int'l
    212-838-1444
    Email Contact