Columbia, MD – March 6, 2013 New Energy Technologies, Inc. (OTCQB: NENE) today announced that the Company has entered into Phase 2 of its Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to advance the development of its SolarWindow™ technology, capable of generating electricity on glass.
Jointly, the Company and NREL plan to advance New Energy’s electricity-generating device by enhancing performance, processing, and lifetime. Under the terms of the agreement, researchers will additionally work towards optimizing the deposition of various coatings on flexible surfaces; these layers allow for electricity to be generated on surfaces such as see-through and tinted plastics.
“This second phase of the CRADA emphasizes the Company’s active commitment to develop the SolarWindow™ see-through electricity-generating coatings into commercially valuable building integrated products, with the assistance of world-class research teams at NREL,” explained Mr. J. Patrick Thompson, Vice President, Business and Technology Development for New Energy Technologies, Inc. “Naturally, we’re pleased to continue our ongoing research and development relationship with NREL in Golden, Colorado. NREL is one of the world’s most respected and advanced solar-photovoltaic research institutions.”
Under terms of the agreement, the Company’s Principal Scientist, Dr. Scott Hammond and NREL research scientists will make use of intellectual property brought into and developed under the CRADA in order to work towards specific product development goals. Future development plans include efforts to:
- Further improve SolarWindow™ efficiency and transparency;
- Optimize electrical power (current and voltage) output;
- Optimize the application of the active layer coatings which make it possible for SolarWindow™ to generate electricity on glass surfaces;
- Develop improved electricity-generating coatings by enhancing performance, processing, reliability, and durability;
- Optimize SolarWindow™ performance on flexible substrates; and
- Develop high speed and large area roll-to-roll (R2R) and sheet-to-sheet (S2S) coating methods required for commercial-scale BIPV and windows.
“Company and NREL scientists jointly developed this CRADA to maintain focus on SolarWindow™ power production, large area and high speed coating equipment and methods, improving reliability and performance, and commercialization,” explained Mr. John A. Conklin, President & CEO of New Energy Technologies, Inc. “As we work towards commercialization, the market potential of deploying a readily-available and affordable see-through glass window capable of generating electricity continues to aggressively drive our product development efforts.”
The commercial opportunity to install see-through, electricity-generating glass windows in commercial buildings, tall towers, and skyscrapers, is significant. There are nearly five million commercial buildings in the United States, and an increasing demand for ‘green’ buildings. Driven by rising energy costs, increasing electricity consumption, government initiatives, and heightened consumer awareness, the demand for green construction and sustainable materials continues to rise.
Currently under development for eventual commercial deployment in commercial buildings and homes in America, SolarWindow™ technology is the subject of twelve patent filings and is the world’s first-of-its-kind see-through technology capable of generating electricity on 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.