University of South Florida Research Foundation grants New Energy exclusive, worldwide license for technologies to enable commercial development of SolarWindow™.
Burtonsville, MD – July 20, 2010 – New Energy Technologies, Inc. (OTCBB: NENE) is pleased to announce that researchers developing its proprietary SolarWindow™ technology have achieved major scientific and technical breakthroughs, allowing the Company to unveil a working prototype of the world’s first-ever glass window capable of generating electricity in the upcoming weeks.
Until now, solar panels have remained opaque, with the prospect of creating a see-thru glass window capable of generating electricity limited by the use of metals and various expensive processes which block visibility and prevent light from passing through glass surfaces.
New Energy’s ability to generate electricity on see-thru glass is made possible by making use of the world’s smallest working organic solar cells, developed by Dr. Xiaomei Jiang at the University of South Florida. Unlike conventional solar systems, New Energy’s solar cells generate electricity from both natural and artificial light sources, outperforming today’s commercial solar and thin-film technologies by as much as 10-fold.
Click here to view press release, announcing test results which show New Energy’s see-thru SolarWindow™ cells surpass thin-film and solar in artificial light:
New Energy’s SolarWindow™ technology is under development for potential application in the estimated 5 million commercial buildings in America (Energy Information Administration) and more than 80 million single detached homes.
“We’re always keen to see innovations in our laboratories turn into meaningful commercial products,” stated Valerie McDevitt, Assistant Vice President for Research, Division of Patents and Licensing, University of South Florida. “We very much look forward to the commercial development of New Energy’s SolarWindow™ technology, which, if successful, could literally transform the way in which we view the use of solar energy for our homes, offices, and commercial buildings.”
The University of South Florida Research Foundation has licensed Dr. Xiaomei Jiang’s groundbreaking discovery and important commercial processes and applications to New Energy Solar Corporation, a wholly-owned subsidiary of New Energy Technologies, Inc.
“It’s very exciting to see that our ongoing research has led to several significant breakthroughs with transparency and the production of electricity on see-thru glass,” explained Mr. Meetesh V. Patel, President and CEO of New Energy Technologies, Inc. “For the first time ever, these advances have allowed us to develop an early-scale working prototype of the technology, which I very much look forward to unveiling in the upcoming weeks.”
In recent months, numerous technical milestones have been surpassed by researchers developing New Energy’s see-thru SolarWindow™ coatings, including:
- The use of the world’s smallest functional solar cells, measuring less than ¼ the size of a grain of rice, and 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. Importantly, these cells generate electricity from both natural and artificial light sources, outperforming today’s commercial solar and thin-film technologies by as much as 10-fold;
- Development of a novel, patent-pending process to spray SolarWindow™ coatings onto see-thru glass using commercially available technologies (presented in AZoNano’s Journal of Nanotechnology Online; Dec. 20, 2009, “Nanotechnology Thought Leaders” series); andClick here to view press release, announcing development of patent-pending technology to spray SolarWindow™ coatings onto see-thru glass:
- The ability to spray SolarWindow™ coatings onto glass at room temperature, eliminating expensive high-temperature or high-vacuum production methods commonly used by current solar manufacturers.
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About University of South Florida::
The University of South Florida is one of the nation’s top 63 public research universities and one of only 25 public research universities nationwide with very high research activity that is designated as community engaged by the Carnegie Foundation for the Advancement of Teaching. USF was awarded $380.4 million in research contracts and grants in FY 2008/2009. The university offers 232 degree programs at the undergraduate, graduate, specialist and doctoral levels, including the doctor of medicine. The USF System has a $1.8 billion annual budget, an annual economic impact of $3.2 billion, and serves more than 47,000 students on institutions/campuses in Tampa, St. Petersburg, Sarasota-Manatee and Lakeland. USF is a member of the Big East Athletic Conference.
SolarWindow Technologies, Inc. is a developer of next generation, transparent 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.
The company’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 360 degree building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide 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.solarwindow.com.
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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 “SolarWindow 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.