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SAN DIEGO--(BUSINESS WIRE)--Titan Energy Worldwide, In
(formerly Safe Travel Care, Inc.) (OTCBB:SFTV - News) announced today that it has signed a conditional letter of agreement to acquire Stellar Energy Services, Inc. (Stellar). Stellar is an authorized dealer and service provider of Generac power generation equipment. The final agreement is conditional upon the completion of due diligence by both parties and an audit of the financial statements of Stellar.
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Stellar Energy Services provides sales and support for Generac power generators in the U.S. states of Minnesota, Wisconsin, North and South Dakota, Iowa, and Nebraska. The company offers a full range of gas- and diesel-powered products, including standby power systems; modular power systems; and residential, light commercial and telecommunications systems.
Stated Jeffrey Flannery, CEO of Titan Energy Worldwide, "This proposed acquisition could be a key event for Titan as we seek to expand our marketing base as well as provide additional support for our flagship product, the Sentry 5000. While we need to complete an audit of the company, Stellar appears to be a strong, growing company with facilities and expertise that are a great match for Titan and our future plans."
Titan Energy manufactures the Sentry 5000, a portable utility system that provides up to 80 hours of self-sufficient emergency power generation before refueling. The Sentry 5000 allows for mobile deployment and supports emergency power generation, water purification, satellite voice and data communication, emergency area lighting, space conditioning (heat or cooling), and offers 50kW+ additional power capacity.
More information on Titan Energy Development, Inc. and the Sentry 5000 Mobile Utility System can be found at www.titanenergydevelopment.com. More information on Stellar Energy Services can be found at www.stellarenergyservices.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 SFTV 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; or 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 SFTV 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 SFTV has no specific intention to update these statements.
Note to editors: Image available - Titan Sentry 5000
SAN DIEGO--(BUSINESS WIRE)--Titan Energy Worldwide, In
(formerly Safe Travel Care, Inc.) (OTCBB:SFTV - News) announced today that it has signed a conditional letter of agreement to acquire Stellar Energy Services, Inc. (Stellar). Stellar is an authorized dealer and service provider of Generac power generation equipment. The final agreement is conditional upon the completion of due diligence by both parties and an audit of the financial statements of Stellar.
ADVERTISEMENT
Stellar Energy Services provides sales and support for Generac power generators in the U.S. states of Minnesota, Wisconsin, North and South Dakota, Iowa, and Nebraska. The company offers a full range of gas- and diesel-powered products, including standby power systems; modular power systems; and residential, light commercial and telecommunications systems.
Stated Jeffrey Flannery, CEO of Titan Energy Worldwide, "This proposed acquisition could be a key event for Titan as we seek to expand our marketing base as well as provide additional support for our flagship product, the Sentry 5000. While we need to complete an audit of the company, Stellar appears to be a strong, growing company with facilities and expertise that are a great match for Titan and our future plans."
Titan Energy manufactures the Sentry 5000, a portable utility system that provides up to 80 hours of self-sufficient emergency power generation before refueling. The Sentry 5000 allows for mobile deployment and supports emergency power generation, water purification, satellite voice and data communication, emergency area lighting, space conditioning (heat or cooling), and offers 50kW+ additional power capacity.
More information on Titan Energy Development, Inc. and the Sentry 5000 Mobile Utility System can be found at www.titanenergydevelopment.com. More information on Stellar Energy Services can be found at www.stellarenergyservices.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 SFTV 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; or 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 SFTV 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 SFTV has no specific intention to update these statements.
Note to editors: Image available - Titan Sentry 5000