New Energy Technologies, Inc. (OTCQB: NENE) announced today a
financial payback period of under one year for its see-through
SolarWindow™ technology, capable of generating electricity on glass
windows. Quick payback is one of the most important financial
considerations for renewable energy consumers, including building
developers, architects, and engineers.
“No competing technology I’ve seen has ever recorded or
published a payback period as fast and as financially compelling as
our SolarWindow™ technology,” explained Mr. John Conklin, President
and CEO of New Energy Technologies, Inc. “This is a huge win for
all our stakeholders – including future customers – and for the
environment.”
According to first-ever financial modeling results released by
the Company today, SolarWindow™ systems could achieve payback
within one year. To produce the equivalent amount of power with
conventional solar systems would require at least 5-11 years for
payback and at least 10-12 acres of valuable urban land. In
contrast, SolarWindow™ systems can be installed on available window
glass on tall towers and skyscrapers.
“SolarWindow™ technology turns passive building windows into
active power generators, producing the most exciting return on
investment,” explained Mr. Kenneth Schuckers, CPA, who has
experience in helping companies understand the benefit of renewable
energy and tax savings during his tenure at Grant Thornton, KPMG,
Deloitte & Touche, and others.
“Applying electricity-generating coatings to the vast glass
surfaces of windows on tall towers is a brilliant strategy. While
others have simply gazed ahead, New Energy has looked up!”
The prospect of exponentially out-performing today’s solar
photovoltaic (PV) systems is made possible when engineers apply New
Energy’s electricity-generating SolarWindow™ coatings to glass.
These see-through liquid coatings create electricity-generating
glass windows, successfully prototyped in the most aesthetically
appealing colors in demand by building architects.
When applied to windows on towers, New Energy’s modeling shows
SolarWindow™ generating up to 50-times the power of conventional
rooftop solar systems while delivering 15-times the environmental
benefits. For example, a single SolarWindow™ installation can avoid
the amount of carbon emissions produced by vehicles driving about
2.75 million miles per year, compared to 180,000 miles for
conventional rooftop systems.
“I’m proud to announce this milestone event for our SolarWindow™
technology. In addition to setting new records for size and power
production, we’ve now surpassed the industry’s expectations for
financial return,” explained Mr. Conklin.
“In the upcoming weeks, we will work to secure independent
third-party validation of our financial modeling – a major product
development goal for 2015.”
SolarWindow™ is currently under development for the estimated 85
million commercial buildings and detached homes in America.
To view power production estimates, click here.
New Energy Technologies’ Proprietary Power Production &
Financial Model (Power & Financial 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 &
Financial 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:
- SolarWindow™ technologies, which
generate 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 a patent pending technology; and
- MotionPower™ roadway systems for
generating electricity by capturing the kinetic energy produced by
moving vehicles – a patent-pending technology. An estimated 250
million registered vehicles drive more than six billion miles on
America’s roadways, every day.
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.
To receive future press releases via email, please visit:
http://www.newenergytechnologiesinc.com/investor_alert.
To view the full HTML text of this release, please visit:
http://www.newenergytechnologiesinc.com/NENE20150225.
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.
New Energy Technologies, Inc.Ms. Briana L. Erickson,
800-213-0689Briana@NewEnergyTechnologiesInc.comwww.newenergytechnologiesinc.com
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