New Energy Technologies, Inc. (OTCQB: NENE), developer of
see-through SolarWindow™ coatings capable of generating electricity
on glass and flexible plastics, today released first-ever power
modeling estimates of its SolarWindow™ prototype modules. Engineers
estimate that SolarWindow™ modules could conservatively produce at
least ten times the electrical energy of conventional rooftop
photovoltaic (PV) systems, and in some instances, exceed power
performance by as much as 50-fold. SolarWindow™ modules could also
eliminate the equivalent carbon dioxide (CO2) emissions produced by
vehicles driving more than 2 million miles per year.
Recently, New Energy’s largest, high-performance SolarWindow™
module set a new “certified” record for generating electricity
while remaining see-through; SolarWindow™ high-performance
prototype produced over 50 percent greater power than prior
attempts publicized by others of comparable organic photovoltaic
(OPV) prototype device architecture, size and design.
Using the independently tested and certified power production
data for its SolarWindow™ modules from the U.S. Department of
Energy’s National Renewable Energy Laboratory (NREL), Company
engineers have since developed a model for estimating the amount of
electrical energy and environmental benefits SolarWindow™ prototype
modules may provide.
In every instance where New Energy’s high-performance prototype
SolarWindow™ modules have been modeled for performance against
today’s typical rooftop solar PV module systems, the modeling
estimates show significantly greater generation of electrical
energy and multiple-fold environmental benefits.
By way of illustration, the Company model estimates show that
when installed on all four sides of a 50-story building in:
- Phoenix, Arizona – SolarWindow™ modules
could generate enough electricity to power 130 homes each year.
Today’s rooftop systems could only produce enough for 3 to 11 homes
per year.
- Amarillo, Texas – SolarWindow™ modules
could provide the equivalent of avoiding the CO2 emissions produced
by vehicles driving over 2.2 million miles each year. Today’s
rooftop systems could only avoid the equivalent CO2 emissions
produced from 49,000 to 180,000 miles of vehicle miles per
year.
- Miami, Florida - SolarWindow™ modules
could generate over 1.3 million kWh (kilowatt hours) of energy.
Today’s rooftop systems could only generate from 28,000 to 102,000
kWh.
- Denver, Colorado – SolarWindow™ modules
could provide the equivalent reductions in CO2 emissions produced
by as much as 770 acres of forest sequestering CO2. Today’s rooftop
systems could only provide the equivalent CO2 reductions produced
by 20 to 70 acres of forest sequestering CO2.
(New Energy’s summary estimates are rounded. View actual model
estimates at: www.newenergytechnologiesinc.com/powermodel.)
“High power output and meaningful environmental benefits are
among the most important drivers for our potential commercial
customers, strategic partners, and end consumers,” explained Mr.
John Conklin, President and CEO of New Energy Technologies, Inc.
“We now have a model that estimates SolarWindow™ module performance
in these key areas, and compares these estimates to today’s
conventional rooftop solar PV module systems.”
“Importantly, we’ve long believed in the electrical power
production and environmental benefits of applying our see-through
SolarWindow™ coatings to the many acres of glass windows on all
four sides of commercial tall towers and skyscrapers, rather than
relying on limited rooftop space available for today’s conventional
solar PV rack-mounted systems. Our decision to pursue vast glass
surfaces on buildings to create environmentally friendly energy
producing power plants shows its benefits in our latest modeled
estimates.”
Today’s modeled estimates were developed exclusively by New
Energy Technologies’ engineers and researchers. The Company’s
internal teams modeled their calculations based on results of
independent testing and certification of its record-setting
SolarWindow™ high-performance modules by the NREL Device
Performance Measurement Laboratory. 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™ 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
technology is the subject of 42 patent filings, and researchers are
on track to advance SolarWindow™ towards full-scale commercial
manufacturability – a near-term goal.
To view photographs of New Energy’s latest high performance
SolarWindow™ modules, click here.
New Energy Technologies' Proprietary Power Production Model
(Power Model) uses Photovoltaic (PV) modeling calculations that are
consistent with renewable energy practitioner standards for
assessing, evaluating and estimating renewable energy for a PV
project. The Power Model estimator takes into consideration
building geographic location, solar radiation for flat-plate
collectors (SolarWindow™ irradiance is derated to account for 3600
building orientation and vertical installation), climate zone
energy use and generalized skyscraper building characteristics when
estimating PV power and energy production, and carbon dioxide (CO2)
equivalents. Actual power, energy production and CO2 equivalents
modeled may vary based upon building-to-building situational
characteristics and varying installation methodologies.
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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visit:http://www.newenergytechnologiesinc.com/NENE20140603.
For media inquiries, please contact Jerry Schranz at
jschranz@beckerman.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/20140603006082/en/
New Energy Technologies, Inc.Ms. Briana L. Erickson,
800-213-0689Briana@NewEnergyTechnologiesInc.comwww.newenergytechnologiesinc.com
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