SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

February 24, 2010 10:30 ET

Titan Energy Worldwide Announces $1 Million in New Orders for Distributed Power Generation Equipment to US Military and Government

January Orders for Equipment Were the Highest in Company History for the Month

MINNEAPOLIS, MN--(Marketwire - February 24, 2010) -  Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in distributed power generation products and intelligent energy management services, announced today that it has sold more than $1 million of power generation equipment to the US government and military since the beginning of the year. These sales were accompanied by one to three year service agreements for Titan Energy to provide maintenance and repair services for this equipment.

"Titan Energy is proud to have developed strong relationships with key areas of our government as this had led to repeat orders for equipment and long term service contracts. Overall, bookings for new equipment sales in January were the highest in our Company's history for the month. This is a solid start to what we believe will be a good strong year for Titan Energy," stated Thomas Vagts, General Manager of Titan Energy Systems, Inc.

Most of the equipment related to these sales were industrial generators manufactured by Generac Power Systems (www.generac.com) based in Waukesha, Wisconsin. Titan Energy is an exclusive industrial dealer for Generac in several Midwestern States.

Titan Energy provides back-up, emergency and ancillary power systems to support a wide range of critical operations in both the government and private sectors. These systems provide distributed energy during emergencies, natural disasters or during times when power from the electrical grid is suboptimal or unavailable. Titan Energy provides engineering, planning, equipment and service support on all its power systems which range from 20kW to several megawatts in size.

About Titan Energy Worldwide, Inc.
Since its founding, Titan Energy Worldwide has been 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.

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