Columbia, MD – December 12, 2011– New Energy Technologies, Inc. (OTCQB: NENE) today announced that researchers developing SolarWindow™, capable of generating electricity on see-through glass, have successfully fabricated its latest working window prototype using a faster, rapid scale-up process for applying solution-based coatings. The prospect of rapidly scaling up the size of SolarWindow™ while applying the Company’s electricity-generating coatings onto glass at faster speeds, are important technical advancements in New Energy’s drive to aggressively advance the world’s first-of-its-kind technology towards commercial launch.
“Today’s faster and improved scale-up application breakthrough marks a significant leap forward in our SolarWindow™ evolution from advanced research towards commercial product development,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.
“Importantly, this new and improved processing method still allows for the application of our novel electricity-generating coatings to be applied at room temperature and pressure. We’re not at the mercy of cumbersome and expensive temperature and pressure sensitive systems often utilized in the manufacture of conventional and thin-film solar photovoltaic products.”
Among other commercial considerations, researchers developing New Energy’s SolarWindow™ have been vigilant in their efforts to improve transparency and keep manufacturing costs low. For example, last year, scientists undertaking advanced SolarWindow™ research achieved the ability to ‘spray’ the Company’s electricity-generating coatings onto glass — also, at room temperature and pressure.
The new solution-coating method announced today provides an alternative to spray and allows for rapid scale-up to larger glass surface areas. This improved process also generally provides for more uniform application of SolarWindow™ electricity-generating coatings than conventional methods.
Notably, the Company’s new solution-coating technique has already been demonstrated as compatible with roll-to-roll (R2R) high-speed and high-volume fabrication methods, potentially providing for very-large scale manufacturing. Compared to manufacturing of first-generation solar products, room temperature and ambient pressure R2R manufacturing promises: low labor costs; decreased capital equipment expenditure; higher product quality, reduced cost of energy required for production; and improved environmental and occupational control.
Critical to successful R2R manufacturing is the ability to apply coatings onto flexible substrate materials. Earlier this year, New Energy researchers successfully applied the Company’s electricity-generating coatings onto flexible plastic (PET) – an important technical achievement necessary for the development of electricity-generating window films. Scientists anticipate that commercially developed electricity-generating flexible plastic could be deployed as tinted window film, which remains see-through while generating electrical power.
Currently under development for eventual commercial deployment in the estimated 85 million commercial buildings and homes in America, SolarWindow™ is the subject of ten new patent filings and 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.