Columbia, MD, May 9, 2013 – New Energy Technologies, Inc. (OTCQB: NENE), developer of see-through solar cells for generating electricity on glass windows, today announced that researchers have successfully achieved faster fabrication time, improved transparency, and a two-fold increase in power conversion efficiency. Researchers achieved today’s advances by way of a novel, patent-pending breakthrough, which enables fabrication of large-scale mini-module SolarWindow™ devices, important to commercial deployment of the world’s first-of-its-kind glass window capable of generating electricity.
Generating electricity on glass windows is possible when New Energy researchers spray ultra-small, see-through solar cells on to glass surfaces. These novel spray-on techniques have been pioneered, advanced, and unveiled in operating prototypes by scientists who initiated early research efforts with New Energy Technologies under a Sponsored Research Agreement at the University of South Florida (USF). The Company’s SolarWindow™ technology has since progressed significantly beyond early research, and is now in advanced product development.
Meanwhile, today’s announcement is the outcome of spray-related improvements achieved during the completion phase of New Energy’s early Sponsored Research at USF, led by Dr. Xiaomei Jiang. Researchers report that these latest spray-on techniques have successfully:
- Boosted power conversion efficiency of each individual cell by two-fold compared to previous fabrication methods, leading to overall power output improvement of SolarWindow™;
- Reduced fabrication time from several days down to only a few hours, or 1/6th of the time normally required;
- Improved the transparency or ‘visual light transmission’ of SolarWindow™ modules, creating a widow ‘tint’ effect; and
- Achieved an aesthetically attractive, uniform coating on to glass – important to consumer appeal.
Specifically, these performance improvements result from spray advancements which control fabrication of various layers of coatings on glass; collectively, these layers make up the architecture of SolarWindow™ modules. Among other functions, the various layers allow the glass to absorb the sun’s energy, generate electricity, and direct the electricity for collection and use.
Researchers are hopeful that today’s breakthrough in mini-module spray-on device fabrication leads to improved spray-on techniques for large-scale devices, a precursor to the Company’s product for commercial launch.
“This latest breakthrough is an exciting testament to our ongoing efforts as we continuously work to improve the quality and performance of our SolarWindow™ mini-modules,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. “Moving forward, we remain devoutly focused on producing large surface area prototypes which are compatible with high-speed production methods, important to commercialization of SolarWindow™.”
Currently under development for eventual commercial deployment in the estimated 85 million commercial buildings and homes in America, SolarWindow™ technology is the subject of fourteen (14) patent filings and is the world’s first-of-its-kind technology capable of generating electricity on see-through glass windows.
SolarWindow™ is a ‘building integrated photovoltaic’ (BIPV) technology. BIPV products are expected to achieve compound annualized growth of 41%-plus through 2016, according to Pike Research.
New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Company's technologies under development are:
- MotionPowerTM roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles – a patent-pending technology, the subject of 45
US and International patent applications. An estimated 250 million registered vehicles drive more than 6 billion miles on America's roadways, every day; and
- SolarWindowTM technologies which enable see-through windows to generate electricity by ‘spraying’ their glass surfaces with New Energy’s electricity-generating coatings - the subject of 14 patent applications. These solar coatings are less than 1/10th the thickness of ‘thin’ films and make use of the world’s smallest functional solar cells, shown to successfully produce electricity in a published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.
Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.newenergytechnologiesinc.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 New Energy Technologies, Inc. (the “Company” or “New Energy 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 New Energy 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.