SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

July 07, 2010 09:17 ET

Titan Energy Worldwide Announces Three Quarters of a Million Dollars in New Government Contracts in New York Area

Northeast Operation Posts Record Revenues in First Half of 2010

BRIGHTON, MI--(Marketwire - July 7, 2010) -  Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in distributed power generation products and intelligent energy management services, announced the company has been awarded new orders in the Northeast region totaling nearly $750,000. These orders include:

  • 1000kw MTU engine generator package to be placed at a Federal Court House. This system will generate enough electricity to power 200 residential homes and will be mounted outdoors with a sound attenuated enclosure and a 275 gallon NYC certified diesel fuel sub base tank
  • 300kw clean burning natural gas engine generator system which will provide critical backup for an onsite data center for the Federal Agency of Homeland Defense. Titan designed and is providing the emergency backup system. This is an outdoor application with sound attenuated enclosure and 100KVA (UPS) uninterruptable power supply.

"We experienced a very strong first six months in 2010, posting the highest six months of revenue to date, fueled in part by new government projects such as these. Titan Energy is definitely positioning itself as a major design and power partner for many of the government entities in the New York/New Jersey area. We expect to see this solid growth continue into the second half of the year across several industries," stated Clifford Macaylo, President of Northeast Operations for Titan Energy. 

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
    Chief Executive Officer
    Titan Energy Worldwide, Inc.
    619-988-5869
    Email Contact