SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

June 23, 2009 09:49 ET

Titan Energy Worldwide Selected to Provide Remote Monitoring for "Peak Shaving" Generators of Major Retailer

MINNEAPOLIS, MN--(Marketwire - June 23, 2009) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in the manufacturing, marketing and servicing of energy generation products and services, announced today that its Midwestern subsidiary, Titan Energy Systems, has been selected by a major retailer to provide remote monitoring on back up generators located at five of its stores in Minnesota.

These remote monitoring systems are installed on what are called peak shaving generators which are used to produce energy during periods when the local electrical grid is experiencing high demand. With this monitoring equipment installed, Titan Energy can collect information about the generator's operational status, generate service orders if a problem is detected, and thereby better prevent failures during these high energy demand periods. A failure to start this generator during a peak shave may result in the retailer being assessed significant penalties.

"Providing this monitoring technology and offering companies a more sophisticated program for energy management is just one of the ways in which Titan Energy is expanding its service offerings to customers," stated Tom Vagts, Sales Manager for Titan Energy Systems. "This particular retailer has 10 generators in Minnesota and has been hit with multiple fines in the past for failure to start their back up generators during a peak shave period."

Titan Energy offers this monitoring service for a recurring monthly fee, for which the Company monitors the customer's equipment and schedules service calls as needed. The result is that the customer is better able to respond to peak shaves and avoid service problems and fines.

"We envision this remote monitoring service to be a vital offering for many of our customers who need better energy management tools and improved customer service. We plan to begin marketing this service offering on a broader scale in the near future, as we estimate that there are hundreds if not thousands of companies that could benefit from this remote monitoring service. Titan Energy benefits in that we receive greater recurring revenues and longer term contracts," added Vagts.

About Titan Energy Worldwide, Inc.

Titan Energy is a leader in the manufacturing, marketing and servicing of energy generation products and services, including development and support for new energy-related technology. Founded in 2005, Titan combines engineering expertise, established sales and distributorships, service operations and unique strategic partnerships to meet the growing global demand for clean, efficient, energy solutions. Titan serves disaster recovery first responders, relief agencies, homeland security, the department of defense and municipalities. For more information, 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.
    952-217-0402
    Email Contact