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New Energy Provides Update on Development of MotionPowera" Systems, Able to Generate Electricity from Motion of Cars and Trucks

^{Published on 2011-01-18 06:40:29 - Market Wire}
 

COLUMBIA, Md.--([ BUSINESS WIRE ])--New Energy Technologies, Inc. (OTCBB: NENE), a developer of next-generation alternative and renewable energy technologies, is pleased to report that its engineering teams are continuing the development of the Companya™s first-of-its-kind MotionPowera" systems for generating electricity by capturing otherwise wasted kinetic energy of decelerating cars and trucks, such as at toll-booths, drive-thrus, stops signs, and truck weigh stations.

"In 2010, we concentrated much of our efforts on prototyping our MotionPowera" technologies, and refining their designs in preparation for field testing"

Designed as a roadway-based system for installations where vehicles are required to decelerate or stop, New Energya™s MotionPowera" technology assists vehicles in slowing down. In the process of doing so, MotionPowera" captures the slowing vehiclea™s motion (kinetic) energy before it is lost as brake heat and friction, and creatively converts this energy into acleana™, green electricity.

aIn 2010, we concentrated much of our efforts on prototyping our MotionPowera" technologies, and refining their designs in preparation for field testing,a explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.

aThis year, we look forward to advancing these roadway systems towards commercialization, just as wea™re currently doing with our SolarWindowa" technology. Our priorities include conducting field tests under varying conditions, securing third-party validation for the power production of our MotionPowera" systems, and working to engineer maximum power output. These future initiatives build on our recent engineering achievements.a

Over the last several quarters, engineers have worked to achieve important advancements with the Companya™s MotionPowera"-Heavy system for generating electricity from the movement of heavy trucks, and its MotionPowera"-Express system designed to generate electricity from the motion of cars and light trucks. Specifically, New Energya™s engineers have:

• Improved power output through important engineering refinements to hydraulic and mechanical systems;
• Achieved an enhanced driver experience by integrating new driving surfaces which reduce the drivera™s sensation of transitioning from the roadway to the MotionPowera" systems; and
• Prepared the Companya™s MotionPowera" systems for national demonstrations by addressing important areal worlda™ factors such as traffic management, safety, setup, and operations -- all important considerations to conducting successful future field tests.

Previously, such field tests have proved valuable in gathering usable data to achieve advancements of the Companya™s MotionPowera" system, and have also served to demonstrate the commercial potential of the technology.

Prior tests of the MotionPowera" systems in 2009 for cars and light trucks include several successful demonstrations at a Burger King® drive-thru over a busy Labor Day long weekend, the Four Seasons Hotel Washington, DC on Columbus Day, and the Holiday Inn® Express in Baltimore, MD.

Upcoming field tests of the MotionPowera"-Heavy system for buses, long-haul trucks and big rigs are slated to take place at a high-traffic 8.7 million square foot industrial park, servicing the largest maritime cargo center on the East Coast and located on Americaa™s fifth busiest toll-road.

These new field tests make use of New Energya™s MotionPowera"-Heavy system, a non-disruptive energy harvesting technology made possible through the novel application of fluid-driven systems. The Companya™s unique approach capitalizes on the smooth flow of pressurized fluids and avoids the use of moving mechanical parts, which can be financially expensive, prone to mechanical failure, and inefficient as a consequence of mechanical friction.

New Energya™s flush-mounted MotionPowera" systems are designed to capture the unused kinetic energy of slowing heavy commercial vehicles only at points where they are required to slow down or come to a stop, thus ensuring that moving vehicles are not arobbeda™ of energy otherwise required to accelerate. Once captured, the Companya™s MotionPowera" technology creatively converts this excess kinetic energy into sustainable electricity.

According to the US Department of Transportation, there are nearly 10 million heavy trucks, big rigs, and buses in America, driving almost 240 million miles each year. Engineers envision installation of MotionPowera"-Heavy systems across the nation, at active warehousing-distribution centers, cargo loading areas, ports of entry, border crossings, toll booths, weigh scales, rest stops, and other sites where large commercial trucks, big rigs, and buses are required to slow down or come to a stop.

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 New Energya™s electricity-generating coatings. 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: [ www.newenergytechnologiesinc.com ].

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Legal Notice Regarding Forward-Looking Statements

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.

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