Titan Energy Posts Record Backlog of more than $7 million in Equipment Sales

MINNEAPOLIS, Feb. 23, 2012 /PRNewswire/ --  Titan Energy Worldwide, Inc. (OTC: TEWI), a leader in distributed power generation products and intelligent energy management services, today announced that the Company has achieved a record backlog of equipment sales totaling more than $7 million, an increase of nearly 80% over the same period last year.  The Company's backlog represents orders on hold and new purchase orders for equipment that have not shipped and is an indication of expected sales over the next several months. 

"Because new orders take three months or more to ship after placement, our backlog at this time provides us with a good picture of how the first half of 2012 will be in terms of equipment sales.  At $7 million in orders, we could easily see a record first half of the year," stated Jeffrey Flannery, Chief Executive Officer of Titan Energy Worldwide, Inc.

Added Flannery, "In the Midwest, we have seen our sales of Generac power generators rise dramatically over last year's sales and we are expecting to post a record year in 2012.  This increase in sales could be partially due to the mild winter we have had in this region of the U.S.  It may also be an indication that areas of the economy are improving in the Midwest as we see no signs of sales activity slowing down. While still early in the year, based on activity we are expecting record sales in our East Coast territories as well."

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.

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.

For more information about Titan Energy Worldwide please contact:
Jeffrey Flannery
Titan Energy Worldwide, Inc.
952-960-2381
[email protected]

SOURCE Titan Energy Worldwide, Inc.