Columbia, MD – August 22, 2011 – New Energy Technologies, Inc. (OTCQB: NENE) today announced that researchers developing its SolarWindow™ technology, capable of generating electricity on see-through glass, have developed a first-ever working prototype using brand new electricity-generating coatings which lead to increased transparency and enhanced color –attributes important to consumer acceptance of a commercially viable product.
“Improved transparency and color of our SolarWindow™ coatings allows for the development of a consumer-popular product which generates electricity on see-through glass while mimicking the aesthetic look of today’s popular window tint and films,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. “I’m most pleased that our researchers are not only working towards functionality but an attractive SolarWindow™ as well.”
Researchers developing SolarWindow™ have successfully coated the glass surface of a working lab-scale prototype with newly-discovered, organic electricity-generating coatings comprised primarily of hydrogen and carbon. These new coatings favorably influence various electronic, electrochemical, and optical properties of SolarWindow™, essential to producing a highly transparent and aesthetically pleasing soft window tint and color.
“I’m proud of both our research and product development teams, who have accomplished numerous product performance, cost, manufacturing, and aesthetic goals, key to driving our SolarWindow™ towards production and eventual commercial launch.”
New Energy researchers have made many significant technical strides, culminating in inventions that are the subject of 10 new patent applications with the United States Patent and Trademark Office.
Among such SolarWindow™-related inventions is the discovery of novel coatings which remain see-through while generating electricity and can be sprayed on to glass surfaces. Unlike temperature and pressure sensitive manufacturing required in the production of other solar-photovoltaic products, New Energy’s electricity-generating coatings can be applied by spray at room-temperature — important to keeping manufacturing costs low.
Recently, researchers determined to investigate commercial applications beyond glass successfully generated electricity on flexible plastic using the Company’s ‘spray-on’ coating methods. Scientists sprayed the Company’s electricity-generating coatings onto flexible, lightweight lab-scale plastic (polyethylene terephthalate or “PET”) at room temperature and at low pressure. Scientists anticipate that commercially developed electricity-generating flexible plastic could be deployed as tinted window film, which remains see-through while generating electrical power.
Many of these patent-pending discoveries were collectively unveiled to mainstream media, scientists, academics, industry professionals, and investors late last year. Attendees witnessed New Energy’s SolarWindow™ prototypes in action, successfully producing sufficient voltage to power electrical lights and generating enough current to drive a mechanical device. During the demonstration, SolarWindow™ not only generated electrical power from exposure to sunlight but also from artificial fluorescent light – an attribute unique to New Energy’s SolarWindow™.
Scientists developing SolarWindow™ subsequently achieved a major research breakthrough, resulting in the fabrication of New Energy’s first ever 1’X1’ prototype – a necessary step for commercial scalability.
Currently under development for eventual commercial deployment in the estimated 85 million commercial buildings and homes in America, SolarWindow™ is the world’s first-of-its-kind technology capable of generating electricity on see-through glass windows.
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.