August 19, 2008
Titan Energy Worldwide, Inc. To Supply Emergency Power Systems for Two Minneapolis Hotels
Titan Energy Worldwide, Inc.(OTCBB: TEWI) announced today that its subsidiary, Titan Energy Systems, has been awarded contracts to supply emergency generator systems to two major hotels in downtown Minneapolis. Titan Energy Systems is a full line sales and service provider of power generation equipment with headquarters in Minnetonka, Minnesota.
The first contract was for a 400kW emergency engine generator to be installed at the newly constructed Embassy Suites hotel located in Brooklyn Center, Minnesota, an inner suburb of Minneapolis. Manufactured by Generac Power Systems of Waukesha, Wisconsin, the Embassy Suites backup system is designed to provide emergency power to the 175-room hotel. In addition, Titan Energy Systems announced the delivery of a 250kW power system to the twenty-five story downtown Minneapolis Hilton Hotel. The Hilton's emergency power system is being installed as renovations are nearing completion on this 821 room hotel, including the 24,780 sq ft Minneapolis Ballroom, the largest hotel ballroom in the State.
Tom Vagts, Chief Operating Officer for Titan Energy Systems, stated, "The retail hotel market continues to be a strong growth area for our emergency products and maintenance services. These two orders will combine for $128,910 in revenue, assumed upon delivery. These systems will ensure both hotels are able to accommodate their guests and continue normal business operations regardless of any power interruptions."
More information on Titan Energy Systems and its product line can be found at www.titanenergysystems.com.
About Titan Energy WorldWide, Inc.
Titan Energy is a leader in the manufacturing, marketing and servicing of energy generation products and services, a major participant in the distributed, renewable, and alternative energy industries, and a leader in 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.
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.
For more information about Titan Energy please contact: Julie Kane Titan Energy Worldwide, Inc. (248) 446-8557
SOURCE: Titan Energy Worldwide