SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

February 01, 2010 10:10 ET

Titan Energy Worldwide Signs on Russell Electric as Subdealer for Industrial Power Generation Equipment in the Midwest Market

Company's Goal Is to Double Sales Revenues of Midwest Division in 2010 Through Expansion of Its Subdealer Program

MINNEAPOLIS, MN--(Marketwire - February 1, 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 on Russell Electric as a Titan Energy subdealer in Iowa and surrounding regions. The Titan Energy subdealer program was established to increase equipment and service sales throughout the five state Midwestern territory where Titan is the exclusive industrial dealer for Generac Power Systems. As a subdealer, Russell has already submitted its first order to Titan for $349,000.

"We are excited to bring on Russell Electric as a new subdealer for Titan Energy. In previous years, Russell Electric has been responsible for more than $2 million in industrial power generation sales in this portion of our territory. We hope to use the advanced Generac line of power generation equipment to gain a significant portion of Russell's annual sales as well as build out our service program," stated Thomas Vagts, General Manager of Titan Energy Services.

Russell Electric is a leading provider of Generac's residential line of power generation equipment in Iowa. As a subdealer for Titan, Russell can now offer Generac industrial line of generators (10kW to several MWatts) to industrial and commercial customers in its area. Through its authorized service program, Titan Energy offers Russell Electric qualified service and technical support to their industrial customers.

"The Titan Energy subdealer program is one of a number of growth initiatives that we are implementing in 2010. Our Midwest division sold approximately $6.5 million in power generation equipment in 2009. Our goal in 2010 is to double these sales by aggressively establishing new subdealers in Titan's exclusive territories. The subdealer program also offers the opportunity for Titan Energy to expand its service programs which creates additional recurring revenues for the company," added Mr. Vagts.

About Titan Energy Worldwide, Inc.

Titan Energy Worldwide is dedicated to helping companies meet their power generation and energy management needs. To date we have focused on providing thousands of customers with the most advanced power generation equipment to enable their operations to continue uninterrupted during times of power failures or disasters. We have also established a professional service team that helps customers to maintain and manage their power generations assets. 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.

About Russell Electric.

Founded in 2003, Russell Electric provides electrical installations, new construction, remodeling and maintenance to commercial and industrial customers. Russell is also factory authorized and trained to install the #1 selling home standby generator, Guardian Generators. More information is available at the company's website: www.russellcompanies.net.

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