New Energy Enters into Second Technology Development Agreement with NREL to Advance SolarWindow Towards Commercialization
New Energy Technologies, Inc. (OTCQB: NENE) today announced that the
Company has entered into Phase 2 of its Cooperative Research and
Development Agreement (CRADA) with the U.S. Department of Energy’s
National Renewable Energy Laboratory (NREL) to advance the development
of its SolarWindow™
technology, capable of generating electricity on glass.
Jointly, the Company and NREL plan to advance New Energy’s
electricity-generating device by enhancing performance, processing, and
lifetime. Under the terms of the agreement, researchers will
additionally work towards optimizing the deposition of various coatings
on flexible surfaces; these layers allow for electricity to be generated
on surfaces such as see-through and tinted plastics.
“This second phase of the CRADA emphasizes the Company’s active
commitment to develop the SolarWindow™ see-through
electricity-generating coatings into commercially valuable building
integrated products, with the assistance of world-class research teams
at NREL,” explained Mr. J. Patrick Thompson, Vice President, Business
and Technology Development for New Energy Technologies, Inc. “Naturally,
we’re pleased to continue our ongoing research and development
relationship with NREL in Golden, Colorado. NREL is one of the world’s
most respected and advanced solar-photovoltaic research institutions.”
Under terms of the agreement, the Company’s Principal Scientist, Dr.
Scott Hammond and NREL research scientists will make use of
intellectual property brought into and developed under the CRADA in
order to work towards specific product development goals. Future
development plans include efforts to:
-
Further improve SolarWindow™ efficiency and transparency;
-
Optimize electrical power (current and voltage) output;
-
Optimize the application of the active layer coatings which make it
possible for SolarWindow™ to generate electricity on glass surfaces;
-
Develop improved electricity-generating coatings by enhancing
performance, processing, reliability, and durability;
-
Optimize SolarWindow™ performance on flexible substrates; and
-
Develop high speed and large area roll-to-roll (R2R) and
sheet-to-sheet (S2S) coating methods required for commercial-scale
BIPV and windows.
“Company and NREL scientists jointly developed this CRADA to maintain
focus on SolarWindow™ power production, large area and high speed
coating equipment and methods, improving reliability and performance,
and commercialization,” explained Mr. John A. Conklin, President & CEO
of New Energy Technologies, Inc. “As we work towards commercialization,
the market potential of deploying a readily-available and affordable
see-through glass window capable of generating electricity continues to
aggressively drive our product development efforts.”
The commercial opportunity to install see-through,
electricity-generating glass windows in commercial buildings, tall
towers, and skyscrapers, is significant. There are nearly five million
commercial buildings in the United States, and an increasing demand for
‘green’ buildings. Driven by rising energy costs, increasing electricity
consumption, government initiatives, and heightened consumer awareness,
the demand for green construction and sustainable materials continues to
rise.
Currently under development for eventual commercial deployment in
commercial buildings and homes in America, SolarWindow™ technology is
the subject of twelve patent filings and is the world’s
first-of-its-kind see-through technology capable of generating
electricity on glass windows.
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 45 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 enable see-through windows to generate
electricity by ‘spraying’ their glass surfaces with New Energy’s
electricity-generating coatings – the subject of 12 patent
applications. These solar coatings are less than 1/10th the thickness
of ‘thin’ films and make use of the world’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
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/NENE20130306
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
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.
