New Energy Technologies, Inc. (OTCQB: NENE; SOLW,
SOLW.D-temporary), developer of see-through coatings capable of
generating electricity on glass and flexible plastics, today
announced that, effective March 9, 2015, the Company’s name will be
“SolarWindow Technologies, Inc.” and shares will trade on the OTCQB
market under the stock symbol “SOLW”.
Today’s name change follows last week’s news that SolarWindow™
achieves the industry’s fastest-ever financial payback of less than
one calendar year when installed on commercial towers, according to
newly released financial modeling results.
Engineers estimate that SolarWindow™ systems could generate up
to 50-times the power of conventional rooftop solar systems while
delivering 15-times the environmental benefits. 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.
“Our most recent payback breakthrough marks a very significant
boost for eventual commercialization of SolarWindow™ products.
Moving forward, we are devoting all development efforts exclusively
to SolarWindow™ products using our see-through
electricity-generating coatings,” stated Mr. John Conklin,
President and CEO of New Energy Technologies, Inc.
The Company’s name change to "SolarWindow Technologies, Inc.”
and redesigned logo aligns its corporate identity with its core
product. A new website and marketing collateral aligns the
corporate brand with New Energy’s focused development of
SolarWindow™ products, important for future customers, development
partners, and investors. On March 9, 2015 the Company’s new website
will be launched at www.SolarWindow.com.
New Energy’s development efforts will be exclusively directed to
SolarWindow™ products for the estimated 85 million commercial
buildings and detached homes in the United States. Intellectual
property and related ‘know-how’ assets from legacy technologies,
such as MotionPower™, will continue to be retained by the
Company.
About New Energy Technologies,
Inc.
New Energy Technologies, Inc. is a developer of next generation
electricity-generating SolarWindow™ coatings.
SolarWindow™ coatings 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; and is the subject of a patent
pending technology.
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.
New Energy’s 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.
For additional information, please call Ms. Briana L. Erickson
toll-free at 1-800-213-0689 or visit:
www.newenergytechnologiesinc.com, or www.solarwindow.com the week
of March 9th, 2015.
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/NENE2015030415.
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 SolarWindow
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 SolarWindow 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.com
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