New Energy Appoints Renowned Energy Expert and Author, Mr. Peter C. Fusaro, and Clean Tech Executive, Mr. Todd M. Pitcher, to Board of Directors
Columbia, MD – March 25, 2011 – New Energy Technologies, Inc. (OTCQB: NENE, NENED-temporary), a developer of next-generation alternative and renewable energy technologies, is pleased to announce the addition of global energy experts and clean tech executives, Mr. Peter C. Fusaro and Mr. Todd M. Pitcher, to its Board of Directors.
Mr. Peter C. Fusaro: Renowned Energy Expert and Author
Mr. Peter C. Fusaro is a global authority on energy and environmental financial markets, having authored over 700 published articles and 16 books on the subject, including a New York Times best-seller. He is a sought-after keynote speaker, appearing numerous times on CNBC, Bloomberg TV, Fox Business, and cited by the Wall Street Journal, New York Times, Financial Times, Business Week, Forbes, Fortune, Time, Reuters, Dow Jones, and others. Mr. Fusaro’s industry experience spans from his early start to remove lead from conventional gasoline while at the United States Environmental Protection Agency, to consulting to Toyota’s development team on its Prius car, the world’s first mass-produced hybrid vehicle.
Mr. Fusaro received his Bachelors of Arts Degree from Carnegie-Mellon University and his Masters of Arts in International Relations at Tufts University.
Mr. Todd M. Pitcher: Clean Tech Executive
Mr. Todd M. Pitcher is an experienced executive, currently serving as Chairman of a start-up company where he has directed its corporate strategy from zero-revenues at inception to recently reporting 18 consecutive months of profitability on multi-million dollar revenues. He brings extensive experience with private equity and institutional financing, operations, corporate governance, and sales growth, including an established record of negotiating strategic development/sales agreements with Fortune-500 companies.
Mr. Pitcher earned his Bachelors of Art Degree in Philosophy from University of California at Berkeley, undertook graduate studies at University of California at Santa Barbara and Claremont Graduate School.
“I’m honored to welcome Mr. Fusaro and Mr. Pitcher to our Board,” stated Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. “I very much look forward to leveraging their specific expertise with business management, corporate finance, and sales growth as we continue to execute our capital markets plan and advance our SolarWindow™ and MotionPower™ technologies towards commercialization.”
Recently, New Energy unveiled its largest-ever, one-foot by one-foot working SolarWindow™ prototype, capable of generating electricity on see-thru glass. Earlier this month, the Company announced a three-fold increase in the number of solar cells layered onto glass surfaces — a significant step towards maximizing power output and key to commercial launch of SolarWindow™.
There are nearly 5 million commercial buildings in America, according to the Energy Information Administration, and more than 80 million single detached homes. New Energy’s SolarWindow™ technology is under development for commercial application in such buildings.
SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.
Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.
Power and Financial Model Disclaimer
The company's Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which 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 degrees 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.
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