New Energy Technologies, Inc. (OTCQB: NENE), developer of the
world’s first-of-its-kind, see-through technology capable of
generating electricity on glass and flexible plastics, announced
today that the Company has expanded the use of its SolarWindow™
coatings to include two new product lines. These products are the
result of several new inventions -- the subject of seven (7) new
patent filings -- for commercial and military aircraft, and the
safety and security of military pilots.
Stock Image of Fighter Pilot and Aircraft
Canopy (Photo: Business Wire)
“These product developments allow us strategic entry into flight
function and safety, and aircraft power while maintaining focus on
the ongoing development of SolarWindow™,” stated Mr. John A.
Conklin, President and CEO of New Energy Technologies, Inc. “These
are the kinds of products which position the Company as a
world-class innovator, using our see-through electricity-generating
coatings in high-value applications.”
Aircraft and pilots represent prized, capital intensive
resources in both military and commercial sectors. In the United
States, nearly $400 billion is slated for the F-35 Joint Strike
Fighter program alone, with approximately $1 trillion in projected
maintenance costs for the jets. According to a recent report in the
Los Angeles Times, the US Air Force estimates that it costs
taxpayers about $6 million to train each fighter pilot. Today’s
popular commercial aircraft such as DC-9 and 747 models can cost
anywhere from $40 - $360 million; a single United Airlines order
accounted for nearly $15 billion in 2012.
Aircraft windows and fuselage surfaces, and related components;
and pilot flight suits, helmets, and visors are among target
surfaces included in New Energy’s latest inventions to make use of
the Company’s electricity-generating SolarWindow™ coatings. The
production of electricity on such surfaces and materials is
possible when researchers lightly tint their surfaces with New
Energy’s flexible organic, electricity-generating coatings. The
result is aesthetically pleasing see-through surfaces, which can
have uniquely tailored properties, that generate electricity.
“Unlike traditional PV, New Energy’s SolarWindow™ coatings
produce electricity from both natural sunlight and artificial light
sources, and the system continues to produce power in low-light or
shaded conditions,” explained Dr. Scott Hammond, Principal
Scientist of New Energy Technologies, Inc. “Given unknown and
uncertain conditions a downed pilot or compromised aircraft could
encounter, the Company’s SolarWindow™ technology is an attractive
potential source of emergency electricity that could aid in pilot
or passenger survival and recovery.”
Researchers envision applying SolarWindow™ coatings to pilot
safety equipment, thus providing much-needed ultra-lightweight
emergency power to downed pilots. Researchers further anticipate
that supplementary power production from SolarWindow™ coatings
could reduce the size and weight of ancillary power systems aboard
today’s aircraft, potentially improving fuel consumption while
increasing usable aircraft space.
Conventional solar-photovoltaic (PV) technologies are generally
heavy, thick, opaque, and rigid. New Energy’s
electricity-generating coatings are ultra-thin (less than the
thickness of the human hair) and inherently lightweight and
flexible, which potentially allows unique applications for moving
and non-planar surfaces such as aircraft components, flight suits,
and helmets and visors – the subjects of various new inventions and
seven (7) new patent filings announced today.
The Company’s IP Portfolio for the world’s first-of-its-kind
technology capable of generating electricity on see-through glass
windows and plastic, SolarWindow™, and today’s new product
development inventions are the subject twenty-one (21) US and
International patent filings.
About New Energy Technologies,
Inc.
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:
- MotionPower™ 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 six billion miles on America’s
roadways, every day; and
- SolarWindow™ technologies, which
enable see-through windows to generate electricity by ‘spraying’
their glass surfaces with New Energy’s electricity-generating
coatings – the subject of 21 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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visit:http://www.newenergytechnologiesinc.com/NENE20130909
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jschranz@beckermanpr.com, or visit our Media Relations page for
additional contact
information:http://www.newenergytechnologiesinc.com/media_relations
For answers to frequently asked questions, please visit our FAQs
page:http://www.newenergytechnologiesinc.com/investors/faqs
Legal Notice Regarding Forward-Looking
Statements
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.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130909005267/en/
New Energy Technologies, Inc.Ms. Briana L. Erickson,
800-213-0689Briana@NewEnergyTechnologiesInc.comwww.newenergytechnologiesinc.com
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