New Energy Technologies, Inc. and National Renewable Energy Laboratory Create Improved Process for Technology Capable of Generating Electricity on See-Through Glass

Columbia, MD – June 18, 2012 – New Energy Technologies, Inc., developer of see-through solar cells for generating electricity on glass, today announces an improvement in its manufacturing technique that should lead to higher speed, lower costs and greater durability.

Teaming with the US Department of Energy’s National Renewable Energy Laboratory, New Energy Technologies Inc. (OTCQB: NENE) has developed the use of low-cost materials and a special application technique that could help optimize the movement of electrons within the ultra-thin solar cells. This should increase the amount of electricity produced when New Energy’s see-through SolarWindow™ prototype is exposed to natural or artificial light.

NREL Scientist, Dr. Heather A.S. Platt (foreground) and New Energy Principal Scientist, Dr. Scott R. Hammond Work on Company’s SolarWindow™ Technology

Importantly, the improvement to the technology can be executed at ambient pressure and low temperatures, allowing researchers to avoid the use of materials that must otherwise be deposited using high temperature vacuum deposition. Vacuum deposition is both expensive and time-consuming and, thus, not practical for high speed and large-scale applications. Today’s innovation promotes low processing temperatures, enabling high-speed roll-to-roll (R2R) and sheet-to-sheet (S2S) manufacturing. This large-area, R2R and S2S fabrication capability and improved durability of SolarWindow™ technology are crucial for production of market-ready electricity-generating coatings on see-through glass and plastic.

Previously, New Energy, with assistance from University of South Florida and NREL, developed important improvements to New Energy’s SolarWindow™ technology, capable of generating electricity on see-through glass. These improvements include enhancements that address advancing durability, power performance, and cost-effective manufacturability – all important to the eventual commercial deployment of New Energy’s SolarWindow™ technology.

Today’s announcement marks the latest in a series of technical accomplishments that Company and NREL research teams have recently achieved.

“Over the past few months, our researchers have unveiled a virtually invisible conductive wiring system, which collects and transports electricity on SolarWindow™ prototypes, and have fabricated a large area working module, which is more than 14-times larger than previous organic photovoltaic devices fabricated at NREL,” stated Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. “Earlier, we developed our first-ever working SolarWindow™ prototype using a faster, rapid scale-up process for applying solution-based coatings.

“Together, these achievements have moved us closer to our manufacturing, scale-up, durability, and power production goals – all important factors to advancing our SolarWindow™ technology towards commercial launch,” Conklin added.

To generate electricity on SolarWindow™ prototypes, researchers creatively layer and arrange unique, ultra-thin see-through solar cells onto glass. Each of these cells is arranged in a network and interconnected by way of a virtually invisible grid-like wiring system.

Within these ultra-thin solar cells, the light-induced movement of electrons generates electricity. When SolarWindow™ prototypes are exposed to light, the light’s energy prompts electron movement through specific physical and chemical mechanisms leading to power generation.

Dr. Scott R. Hammond, Principal Scientist at New Energy Technologies, Inc., believes the discovery announced today could also favorably improve durability and shelf-life of the Company’s future SolarWindow™ products. “NREL scientists have previously published unrelated results that demonstrate dramatic improvements to the operational and shelf-life of unprotected (i.e., non-encapsulated) photovoltaic devices utilizing related materials when subjected to continuous illumination. No doubt, this is a promising and significant advancement.”

Currently under development for eventual commercial deployment in the estimated 85 million commercial buildings and homes in America, SolarWindow™ technology is the subject of ten patent filings and is the world’s first-of-its-kind technology capable of generating electricity on see-through glass windows.

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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