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New Energy Researchers Target Lower Costs & Higher Output for SolarWindow Capable of Generating Electricity on See-Thru Glass

^{Published on 2010-08-25 06:50:29 - Market Wire}
 

BURTONSVILLE, Md.--([ BUSINESS WIRE ])--New Energy Technologies, Inc. (OTCBB:NENE) announced today that researchers developing the Companya™s first-of-its-kind SolarWindowa", capable of generating electricity on see-thru glass, are targeting new methods of applying its electricity-generating coatings in order to cut future production costs. Researchers are also working to bolster the electrical power output of SolarWindowa", generated from both natural sunlight and artificial sources such as fluorescent lighting typically installed inside commercial offices and incandescent bulbs inside residential homes.

"Our researchers are now focusing on increasing power output, lowering future production costs, and scaling up our working prototype which we expect to unveil in the weeks ahead."

aWith more than 80 million detached homes and 5 million commercial buildings in America, wea™ve worked hard to surpass several important technical milestones in the development of our SolarWindowa" technology for eventual commercial deployment to these markets,a explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. aOur researchers are now focusing on increasing power output, lowering future production costs, and scaling up our working prototype which we expect to unveil in the weeks ahead.a

New Energya™s working prototype serves as a model for future advancements to various surface coating techniques and methodologies for applying SolarWindowa" coatings to see-thru glass. Once achieved, researchers surmise such advances could provide significant opportunities to increase the conversion efficiency necessary for high power production and improve the absorbance of natural and artificial light. Unlike conventional solar technologies, New Energya™s SolarWindowa" generates electricity from both natural and artificial light sources, outperforming todaya™s commercial solar and thin-film technologies by as much as 10-fold under low intensity irradiance.

Among specific initiatives underway, researchers are working to improve the absorbance of light and achieve wider absorption range of solar light. Light wavelength and light intensity are directly related to electrical current and voltage, respectively. Importantly, higher current and voltage provides higher electrical power.

Electrical power is generated on see-thru glass when New Energya™s SolarWindowa" coatings are sprayed onto surfaces using commercially available technologies. This patent-pending process enables researchers to spray SolarWindowa" coatings onto glass at room temperature, eliminating expensive and often cumbersome high-temperature or high-vacuum production methods commonly used by current solar manufacturers.

About New Energy Technologies, Inc.

New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Companya™s technologies under development are:

• MotionPowera" roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles a" a patent-pending technology, the subject of nine patent applications in the United States and two international patent filings. An estimated 250 million registered vehicles drive more than six billion miles on Americaa™s roadways, every day; and
• SolarWindowa" technologies which enable see-thru windows to generate electricity by asprayinga™ their glass surfaces with the worlda™s smallest known solar cells. These solar coatings are less than 1/10th the thickness of athina™ films and make use of the worlda™s smallest functional solar cells, shown to successfully produce electricity in a published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.

Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.

For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: [ http://www.newenergytechnologiesinc.com ]

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No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although New Energy Technologies, Inc. (the aCompanya or aNew Energy Technologiesa) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words amay,a awill,a ashould,a acould,a aexpect,a aanticipate,a aestimate,a abelieve,a aintend,a or aprojecta or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that New Energy Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at [ http://www.sec.gov ]. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.