New Energy to Develop Systems for Storage & Distribution of Electricity Generated from the Motion of Vehicles

Columbia, MD – June 21, 2011 – New Energy Technologies, Inc. (OTCQB: NENE), today announced an important next step towards commercialization of its MotionPower™ technology with plans to develop systems for storing and distributing electricity, generated from the motion of vehicles by the Company’s patent-pending technology.

The subject of 18 International and U.S. patent filings, New Energy’s MotionPower™ systems are engineered as a practical and useful alternative energy technology for generating sustainable electricity from millions of vehicles, as they slow down or come to a stop.  More than 250 million vehicles are registered in America, and an estimated 6 billion miles are driven on our nation’s roads every day.

MotionPower™ systems can be embedded into roadway surfaces at toll-plazas, drive-thrus, border crossings, traffic calming areas, and other high traffic sites where they capture the kinetic energy of slowing vehicles and convert this energy into useful electricity.  Once electricity is generated by MotionPower™, customers may power their appliances, lighting, utility fixtures, and other devices.  Customers may have an opportunity to net metering surplus energy back to the grid.  Net metering is an arrangement where excess energy exported to the utility is subtracted from the amount of energy imported from the grid.  Essentially, the customer’s electric meter spins forward when a customer is drawing power from the utility grid (i.e., using more energy than they are producing) and spins backward when energy is being sent back to the grid.  Surplus energy presents an opportunity for financial savings for the customer.

Engineers anticipate that the development of New Energy’s electricity storage and distribution systems will allow customers to store and distribute their electrical power, as desired.  The ability for customers to manage their use of electricity generated by MotionPower™ and fully exploit its ensuing benefits, marks an important advancement towards the eventual commercial deployment of MotionPower™ and its pathway to manufacturability – a recently announced corporate objective.

Last week, the Company announced plans to advance its MotionPower™ technology towards commercial manufacturability with an emphasis on maximizing the capture of kinetic energy and increasing electrical power output.

Among engineering priorities announced today, New Energy’s product development team will work to design systems capable of managing the storage and distribution of electricity, with a specific focus on: increasing the amount of electricity stored by MotionPower™ while concurrently reducing the number of mechanical energy storage parts; streamlining mechanical energy storage components in order reduce costs, parts, and maintenance; maximizing the mechanical, chemical, and electrical storage of energy; and systems designs which allow customers to make use of MotionPower™-generated electricity at times when conventional electricity may be most expensive.

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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