MINNEAPOLIS, July 23, 2012 /PRNewswire/ -- Titan Energy Worldwide, Inc. (OTC:TEWI), a leader in distributed power generation products and intelligent energy management services, today announced the implementation of an innovative asset management program for onsite power systems. The program was created by Titan Energy to help a major national retail customer perform quick and accurate audits of its nearly 2,000 stores nationwide, identify service issues and immediately implement maintenance and repairs.
The program was devised so that it could be tailored to meet the specific needs of different customer and industries. Overall, Titan management expects the program to generate more than $3,000,000 in service and repair revenue in 2012, effectively doubling its service revenues from 2011, and to be a major growth initiative in the years to come.
Stated David Hawkins, Director of National Accounts for Titan Energy Worldwide, Inc., "The Titan Energy Audit Program is another example of our company's ingenuity and experience being applied to help our customers protect their onsite energy assets and save money on power system maintenance and repairs. The Titan Onsite Power Asset Management Program operates off specially programmed iPads that will guide any technician in any part of the United States through an entire audit in less than 2 hours. All essential data, including photographs and technician notes, is organized instantaneously and reports delivered wirelessly with the press of a button. The customer knows within minutes the status of its vital power generation equipment and if any action needs to be taken to repair or service the equipment."
"We expect the Titan Onsite Power Asset Management Program to be of interest to many companies that have multiple sites across the United States. Investments in back-up power are considerable, and yet, since the equipment is not used except in cases of emergency, proper maintenance is often not provided, resulting in failures during time of need and expensive repairs. The Titan Program is a cost-effective and efficient way to help companies maintain large fleets of generators, switches and UPS systems wherever they are located," added Mr. Hawkins.
About Titan Energy Worldwide, Inc.
Since its founding, Titan Energy Worldwide has been dedicated to helping companies meet their power generation and energy management needs. To date we have focused on providing thousands of customers with the most advanced power generation equipment to enable their operations to continue uninterrupted during times of power failures or disasters. We have also established a professional service team that helps customers to maintain and manage their power generations assets. From emergency and backup 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.
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.
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