SOURCE: Titan Energy Worldwide

October 30, 2007 09:00 ET

Titan Energy Worldwide Expands Service Contract With Verizon Wireless to Include State of Iowa

SAN DIEGO, CA--(Marketwire - October 30, 2007) - Titan Energy Worldwide, Inc. (OTCBB: TEWI) announced today that its subsidiary, Stellar Energy Services, Inc. has been awarded a contract with Verizon Wireless to provide preventative maintenance for all their emergency backup engine generator systems throughout Iowa. The service agreement is for approximately 100 systems located at cellular towers. Stellar will be providing the service from its Des Monies, Iowa service branch.

The Verizon contract includes two visits per year to perform scheduled preventative maintenance that includes replacement of all filters and changing the disposable fluids, refueling of all engine generators with diesel from the fuel tanks located on each of our service vehicles. Stellar technicians will load bank each engine generator to ensure it can handle full load output in case of an emergency. Stellar is also providing logistics support including deployment, fueling and connection of all rental generators required by Verizon.

Tom Vagts, COO of Stellar Energy, stated, "This is another success in our strategy to penetrate the telecommunications service market. We now cover North Dakota, Northern Minnesota and now Iowa for Verizon. This opens the door for additional revenue, because Stellar Energy will receive all emergency repair service work that occurs during the contract."

More information on Stellar Energy Services can be found 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

  • Contact:
    Jeff Flannery
    Titan Energy Worldwide, Inc.
    (619) 342-7449