August 25, 2008
Titan Energy Worldwide, Inc. To Supply Modular Power System for Fortune 500 Company Customer Service Center
Titan Energy Worldwide, Inc. (OTCBB: TEWI) announced today that its subsidiary, Titan Energy Systems, has been awarded a contract to supply two emergency power generators in a state-of-the-art modular design to W.W. Grainger, Inc., the leading broad line supplier of facilities maintenance products in North America. Titan Energy Systems is a full line sales and service provider of power generation equipment with headquarters in Minnetonka, Minnesota and satellite offices in Nebraska and Iowa.
"This contract puts our order intake for the month of August at the highest level since the company was acquired in 2006. Increased sales of the larger MPS generator systems have helped contribute to these record numbers as well as improve the company's gross margins," stated Tom Vagts, Chief Operating Officer for Titan Energy Systems.
Grainger is a Fortune 500 company headquartered in Lake Forest, Illinois. Titan was selected to provide these generators to supply backup power for its newly constructed 42,000 square foot customer service call center located in Waterloo, Iowa. To ensure uninterrupted power to the 200 employees housed in the 24/7 customer service center, Titan Energy will supply (2) 300kW Natural Gas MPS generators, manufactured by Generac of Waukesha, Wisconsin.
To learn more about Titan Energy Systems and their full line of state-of-the-art emergency power equipment and services, please visit 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