SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

September 02, 2009 10:00 ET

Titan Energy Worldwide Announces Record $1,600,000 in Bookings of Power Generation Equipment for the Month of August

Company Subsidiary Also Achieves Highest Monthly Revenues for 2009 With $900,000

MINNEAPOLIS, MN--(Marketwire - September 2, 2009) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in power generation products and energy management services, announced today that its Midwest subsidiary, Titan Energy Systems, has received bookings of more than $1.6 million in August of 2009 for power generation equipment. This is the largest single month of new bookings since the Company was founded. Titan Energy also released preliminary revenues results for August and sales at TESI topped $900,000, the highest month to date in 2009.

"Titan has been able to perform at record levels despite the downturn in the economy. This is a testament to the strength of Titan's management team, the execution of our business plan and the ever growing demand for our energy products and services. I am confident, based on this continued strong performance, that Titan will end the year with record sales," stated Thomas Black, Chief Operating Officer of Titan Energy Worldwide, Inc.

Titan Energy has two operating divisions, Titan Energy Systems which provides power generation sales and service in the Midwest, and Grove Power, Inc. which also provides power generation sales and service in the state of Florida and throughout the Caribbean. Bookings represent orders for new equipment that have been placed by customers. Once the equipment has been manufactured and shipped, these bookings are then recorded by the company as sales revenue. The time between a booking and sale can vary from two to four months.

About Titan Energy Worldwide, Inc.

Since 2006, 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