New Energy Technologies Inc. (OTCQB: NENE), developer of
see-through SolarWindow™ coatings, capable of generating
electricity on glass and flexible plastics, today announced that
its technology has set a new record for generating electricity
while remaining see-through with over 50% greater power than prior
attempts publicized by others.
Electricity-Generating SolarWindow™
Module, Being Developed in Architecturally-Neutral Colors (Photo:
New Energy Technologies, Inc.)
Using today’s certified power-production data, Company engineers
estimate that a SolarWindow™ installation on a fifty (50) story
commercial building located in Florida could generate enough
electricity to power at least 100 homes while eliminating the
equivalent carbon emissions produced by vehicles driving
approximately 2,750,000 miles per year.
Additional total power production and carbon-offset estimates
for skyscraper and tall tower installations are currently being
calculated by engineers for public review using today’s validated
SolarWindow™ performance results.
The Company’s announcement is based on results of independent
testing and certification of its SolarWindow™ modules by the U.S.
Department of Energy’s National Renewable Energy Laboratory (NREL).
Based on this newly validated data from the high-performance
modules unveiled on March 26, 2014, New Energy’s review of
prevailing published literature and scientific reports confirmed
that SolarWindow™ modules outperform publicized devices of
comparable architecture, size, and design by over 53% in terms of
power production – a major achievement and new record. The
Company’s certified, high-performance module is the most efficient
organic photovoltaic (OPV) module ever measured by NREL’s Device
Performance Measurement Laboratory.
Typically, OPV performance tests are conducted on small
‘lab-scale’ devices, which generally measure only 1 square inch
(in2) or smaller due to the challenging nature of OPV scale-up for
see-through (semi-transparent) devices. New Energy’s latest,
high-performance SolarWindow™ module measures 36 in² (232 square
centimeters or cm2).
“We’ve long been confident that our SolarWindow™ modules are
more power efficient and larger than any other like-technology.
Now, our target customers - engineers, glass companies, architects,
and building developers - know this to be the case,” announced Mr.
John A. Conklin, President and CEO of New Energy Technologies,
Inc.
“We are engineering our see-through SolarWindow™ products to
generate sustainable electricity, and be aesthetically attractive,
while being developed at a cost which makes economic sense to our
customers,” continued Mr. Conklin. “We also remain mindful of
ease-of-manufacturing, scale-up of size, and overall environmental
benefits – all important considerations for our potential customers
and future commercial partners in the commercial buildings
sector.”
Company engineers envision installing SolarWindow™ on the vast
areas of tinted glass surfaces on commercial buildings. In
contrast, conventional solar power systems are limited to very
small rooftop areas on skyscrapers and tall towers, which are
already crowded with service systems such as HVAC services and
elevators; tenant-amenities such as rooftop gardens and pools; and
other high-footprint features.
“We’ve worked hard to achieve both large-scale and high power
conversion efficiency,” explained Dr. Scott Hammond, Principal
Scientist at New Energy Technologies, Inc. “Our record-breaking
SolarWindow™ module is the result of various methods of fabrication
and materials, which have helped us overcome numerous challenges
unique to our OPV device technology. I’m grateful for the support
of the talented scientific team at NREL, who have helped us achieve
this very significant milestone.”
The Company’s high-performance, large-area SolarWindow™ has been
fabricated through the efforts of New Energy’s Principal Scientist,
Dr. Scott Hammond, in collaboration with NREL Researchers,
particularly Dr. Maikel van Hest, Dr. Dana C. Olson, and Dr. Scott
Mauger.
“As NREL researchers, part of our mandate is to help companies
move their renewable energy technologies closer to
commercialization,” explained Dr. Maikel van Hest, Senior Scientist
at NREL. “It’s wonderful to contribute to breakthroughs such as
this latest achievement, an important step in commercialization of
their technology.”
NREL is among the world’s most respected and advanced
solar-photovoltaic research institutions, and over its 37-year
history has been credited for ground-floor support of many of the
commercial technologies employed by today’s renewable energy
industries.
NREL and New Energy have been working through a Cooperative
Research and Development Agreement to advance the Company’s
SolarWindow™ technology for generating electricity on glass
windows. The NREL Device Performance Measurement Laboratory is the
premier U.S. Department of Energy research laboratory for testing
performance of commercial, developmental, and research photovoltaic
(PV) devices. The Device Performance group is one of only two
laboratories in the world to hold an International Organization for
Standardization (ISO) 17025 accreditation for primary reference
cell and secondary module calibration, in addition to accreditation
for secondary reference cell calibration under American Society for
Testing Materials (ASTM), and International Electrotechnical
Commission (IEC) standards.
SolarWindow™ researchers have rapidly developed the Company’s
technology from its early beginnings as a tiny, experimental lab
device to a first-of-its-kind, see-through glass window capable of
generating electricity. Today, the technology is the subject of
forty-two (42) patent filings, and researchers are on track to
advance SolarWindow™ towards full-scale commercial
manufacturability – a near term goal.
SolarWindow™ is currently under development for eventual
commercial deployment in the estimated 80 million detached homes in
America and more than five million commercial buildings. The
federal government estimates that by catalyzing private sector
investments in commercial and industrial building energy upgrades,
may make America’s buildings 20 percent more efficient over the
next decade, reducing energy costs for American businesses by
nearly $40 billion.
To view additional photographs of our latest, high performance
SolarWindow™ modules, click here.
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 Company’s technologies
under development are:
- MotionPower™ roadway systems for
generating electricity by capturing the kinetic energy produced by
moving vehicles – a patent-pending technology, the subject of 59 US
and International patent applications. An estimated 250 million
registered vehicles drive more than six billion miles on America’s
roadways, every day; and
- SolarWindow™ technologies, which
generates electricity on see-through glass and flexible plastics
with colored tints popular to skyscraper glass. Unlike conventional
systems, SolarWindow™ can be applied to all four sides of tall
towers, generating electricity using natural and artificial light
conditions and even shaded areas. SolarWindow™ uses organic
materials, which are dissolved into liquid, ideal for low-cost
high-output manufacturing. New Energy’s SolarWindow™ is the subject
of 42 patent applications.
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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http://www.newenergytechnologiesinc.com/NENE20140508.
For media inquiries, please contact Jerry Schranz at
jschranz@beckermanpr.com, or visit our Media Relations page for
additional contact information:
http://www.newenergytechnologiesinc.com/media_relations.
For answers to frequently asked questions, please visit our FAQs
page: http://www.newenergytechnologiesinc.com/investors/faqs.
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 “Company” or “New Energy Technologies”)
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 “may,” “will,” “should,” “could,” “expect,”
“anticipate,” “estimate,” “believe,” “intend,” or “project” 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.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140508005145/en/
New Energy Technologies, Inc.Ms. Briana L. Erickson,
800-213-0689Briana@NewEnergyTechnologiesInc.comwww.newenergytechnologiesinc.com
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