SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

May 04, 2011 09:00 ET

Titan Energy Worldwide Plans to Roll Out Its New Monitoring and Automated Control Platform for Onsite Power Generation

Company's Technology Brings Smartgrid Capabilities to Power Generators and Other Distributed Energy Resources

HOUSTON, TX--(Marketwire - May 4, 2011) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), today announced plans to roll out its advanced remote monitoring and automated control platform for the support of onsite power generation systems. Under the direction of Titan's Houston based technology subsidiary, beta-stage testing has been completed and the technology is currently being installed on generators belonging to Titan's customers. The Titan system operates over cellular, landline and satellite communication networks and can be used to support all types of onsite power technologies including power generators, solar arrays, wind turbines and battery storage systems.

Utilizing a proprietary system architecture developed to support other smart grid applications, the Titan platform offers what management believes are many improvements and unique features compared to competing systems, including: real time asset and service management functionality, greater end-device and multi-user scalability, improved reliability over wireless networks, automation of critical processes and adaptability to a broader range of industries and customers.

Stated Jeffrey Flannery, CEO of Titan Energy Worldwide, "Titan is proud to announce that we are ready to release on a national scale what we believe is the first 'Smart Grid' application developed specifically for onsite power generation. According to the Department of Energy, onsite power, in the form of diesel and natural gas power generators, represents more than 170 gigawatts of power capacity that could be used to support the integrity and operations of our national electrical utility system. Now, through Titan's platform, this potential has an intelligent and effective way to be integrated into our energy management programs. We believe the impact of our technology could be significant, benefitting customers, utilities, energy efficiency providers and demand response companies."

Stated George Wren, Chief Technology Officer of Titan Energy Worldwide, "We believe that in order for onsite power to play a more significant role in our national energy management programs, there needed to be a more efficient and capable set of communication, control and reporting technologies. Titan's technology creates an intelligent and controllable connection between these disparate power generation assets and the utilities or service providers who are helping to support grid management programs. We will be able to provide the real-time monitoring information and reporting that has long been needed between these energy assets and the utility, and we can now offer automation of power production with a level of efficiency and reliability that was difficult to achieve before."

Added Mr. Wren, "Titan's new platform also provides a complete asset management process as well. This technology, we believe, will vastly improve the overall service and maintenance of onsite power generation as well as meet the standards and expectations of utilities, service providers, demand response providers and equipment manufacturers alike. Now generators can be expected to perform with the reliability and efficiency required by demand response, pricing response and other utility management programs. We believe that we have developed the first utility grade system that is dynamic and powerful enough to allow generators and other onsite power systems to play a critical role in our energy management programs."

Titan management further stated that the company will first provide this monitoring and control technology to current customers who have generators enrolled in demand response programs or who have been seeking an improved system to manage and monitor their onsite power generation. The company plans to soon offer these technologies under a variety of service and pricing plans to other customers as a managed service. Titan will provide the hardware, installation and complete service management to companies, utilities, demand response providers, power generation service companies and others which require advanced monitoring and control of their power generation assets.

About Titan Energy Worldwide, Inc.

Titan Energy Worldwide is 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
    Titan Energy Worldwide, Inc.
    619-988-5869
    Email Contact