MINNEAPOLIS, MN -- (Marketwire) -- Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in distributed power generation products and intelligent energy management services, announced that it has closed its acquisition of Stanza Systems, a leading network communications and Smart Grid development company based in Houston, TX. The acquisition of Stanza gives Titan Energy a platform for the development and management of its remote monitoring and automated controls systems for onsite power generation in the $4 billion demand response market. For more information, please see the Company's Form 8K which will be filed with the Securities and Exchange Commission.
Stanza Systems has been developing advanced network technologies for a host of Fortune 500 clients including Itron and BP, as well as leading technology firms such as Phoenix Contact. Stanza developers have been innovators of the wireless industry's first processes and techniques for successful operation of large-scale wireless networks. The Stanza Systems management team combines over 100 man years of successful experience in building industrial systems using advanced and proven technologies such as high speed wireless communications, data collection/processing systems, network design/deployment, and data center/network operations.
"The acquisition of Stanza Systems immediately places Titan Energy in a leadership role in the development of new communication technologies for onsite power generation. Stanza has been our technology development partner for over a year and will now become an integrated part of Titan Energy. I believe Titan Energy offers the finest program for servicing and managing onsite power generation, and with the addition of Stanza's team of engineers we will further strengthen our position in this rapidly growing market. Through Stanza's expertise, Titan Energy will now be able to offer new automation, remote control and asset management services that will extend the life of these valuable generators, improve operations, create new energy efficiency tools and save both our customers and utilities money. In fact, I strongly believe that the technology we are developing will change the way that power generation assets are used and managed, opening the doors to new and more effective ways to deliver demand response and distributed generation solutions to the electrical utility industry," stated Jeffrey Flannery, Chairman and CEO of Titan Energy Worldwide, Inc.
"We are very excited to become a part of the Titan Energy team, and plan to contribute strongly to the vision it has developed to be a technology leader in the growing industries of demand response and distributed generation. Since we began working together in 2009, we have set out the framework for what we believe will be the most advanced communications and management technology ever developed for distributed energy assets. This new system of communicating and controlling arrays of power generation systems will offer new benefits to utilities and companies," stated George Wren, President of Stanza Systems.
George Wren will continue in his role as President of Stanza, as will all the members of his management team.
About Titan Energy Worldwide
Titan Energy Worldwide Inc. is a provider of onsite power generation, energy management and energy efficiency products and services that help support and improve the performance of our nation's electrical utility grid. We operate in an area of the overall electrical utility infrastructure called Distributed Generation, whereby we specialize in the deployment of power generation equipment at the consumer's facility and the integration of that equipment through monitoring and communication systems with the needs of the utility's electrical grid. These onsite power generation systems support a customer's critical operations during times of power failure and serve as demand response systems that work to reduce energy usage and decrease demand on the electrical grid during peak periods. When managed with the proper intelligent monitoring systems and controls, Distributed Generation offers a vital and significant contribution to the development of the nation's Smart Grid. We contribute the tools and resources to produce immediate and long term improvements in the performance and stability in the energy production and transmission segments of the electrical grid and reduce the need for new power plants. From emergency and back-up power technologies, to demand response programs and Smart Grid applications, Titan Energy is setting a path for the future in energy management.
About Stanza Systems
Stanza Systems is one of the few, fully-qualified participants in the wireless industrial data collection/processing market with the expertise to deliver true end-to-end service solutions. With customers that include Itron, BP and Phoenix Contact, Stanza has already developed a reputation as one of the leading developers in network communications and smart grid applications. The Stanza technical staff has been directly involved with software and application development for numerous industrial supervisory control and data acquisition (SCADA) systems within the electric and petroleum industries. Its staff have successfully designed and operated large, widely distributed systems and wireless networks for many years. Stanza brings together an understanding of industrial applications and wireless networks, experience with mission critical operation systems such as SCADA and Network Management Systems, and the knowledge and expertise to present data in a meaningful and usable manner.