SOURCE: Titan Energy Worldwide, Inc.

September 19, 2007 09:35 ET

Titan Energy Worldwide, Inc. Signs Nonbinding Letter of Intent to Acquire West Coast Generator Distributor

SAN DIEGO, CA--(Marketwire - September 19, 2007) - Titan Energy Worldwide, Inc. (OTCBB: TEWI) announced today that it has signed a nonbinding letter of intent (LOI) to acquire an established generator sales and rental operation based in the Western United States. If the acquisition is completed, this transaction would provide a base of operations for Titan in the key Western States, furthering the goals of TEWI to build a national footprint for the sales and service of it back up and emergency power systems.

Due to confidentially requirements, the Company has chosen not to disclose the name of the target company or details of the proposed transaction. The LOI is nonbinding and is conditional on the ability of TEWI to complete an audit of the targeted company's financials and other due diligence.

Thomas Black, President of Titan Energy Worldwide, stated, "We believe this acquisition would contribute significantly to Titan's current business plan as well as help establish our operations in some key areas of the U.S. Based on our initial discussions and review, we feel this acquisition would be a strong fit for Titan. The company is an established, very reputable provider of products and services in its region and gives us the opportunity to expand our product offerings into the Western states."

TEWW is in the distributed power generation business. The company has two subsidiaries: Titan Energy Development, Inc, which manufactures and markets a mobile utility system for disasters response situations called the Sentry 5000. The Stellar Energy Services division is a distributor and service provider for Generac Power Systems, Inc., a major manufacturer of power generators.

More information on Titan Energy Worldwide 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 TEWW 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 TEWW has no specific intention to update these statements.

Contact Information

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