New Energy's Validated SolarWindow™ Sets New Record for Generating Electricity While Remaining See-Through

COLUMBIA, Md.--(BUSINESS WIRE)--

New Energy Technologies Inc. NENE, developer of see-through SolarWindow™ coatings, capable of generating electricity on glass and flexible plastics, today announced that its technology has set a new record for generating electricity while remaining see-through with over 50% greater power than prior attempts publicized by others.

Using today's certified power-production data, Company engineers estimate that a SolarWindow™ installation on a fifty (50) story commercial building located in Florida could generate enough electricity to power at least 100 homes while eliminating the equivalent carbon emissions produced by vehicles driving approximately 2,750,000 miles per year.

Additional total power production and carbon-offset estimates for skyscraper and tall tower installations are currently being calculated by engineers for public review using today's validated SolarWindow™ performance results.

The Company's announcement is based on results of independent testing and certification of its SolarWindow™ modules by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL). Based on this newly validated data from the high-performance modules unveiled on March 26, 2014, New Energy's review of prevailing published literature and scientific reports confirmed that SolarWindow™ modules outperform publicized devices of comparable architecture, size, and design by over 53% in terms of power production – a major achievement and new record. The Company's certified, high-performance module is the most efficient organic photovoltaic (OPV) module ever measured by NREL's Device Performance Measurement Laboratory.

Typically, OPV performance tests are conducted on small ‘lab-scale' devices, which generally measure only 1 square inch (in²) or smaller due to the challenging nature of OPV scale-up for see-through (semi-transparent) devices. New Energy's latest, high-performance SolarWindow™ module measures 36 in² (232 square centimeters or cm²).

“We've long been confident that our SolarWindow™ modules are more power efficient and larger than any other like-technology. Now, our target customers - engineers, glass companies, architects, and building developers - know this to be the case,” announced Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.

“We are engineering our see-through SolarWindow™ products to generate sustainable electricity, and be aesthetically attractive, while being developed at a cost which makes economic sense to our customers,” continued Mr. Conklin. “We also remain mindful of ease-of-manufacturing, scale-up of size, and overall environmental benefits – all important considerations for our potential customers and future commercial partners in the commercial buildings sector.”

Company engineers envision installing SolarWindow™ on the vast areas of tinted glass surfaces on commercial buildings. In contrast, conventional solar power systems are limited to very small rooftop areas on skyscrapers and tall towers, which are already crowded with service systems such as HVAC services and elevators; tenant-amenities such as rooftop gardens and pools; and other high-footprint features.

“We've worked hard to achieve both large-scale and high power conversion efficiency,” explained Dr. Scott Hammond, Principal Scientist at New Energy Technologies, Inc. “Our record-breaking SolarWindow™ module is the result of various methods of fabrication and materials, which have helped us overcome numerous challenges unique to our OPV device technology. I'm grateful for the support of the talented scientific team at NREL, who have helped us achieve this very significant milestone.”

The Company's high-performance, large-area SolarWindow™ has been fabricated through the efforts of New Energy's Principal Scientist, Dr. Scott Hammond, in collaboration with NREL Researchers, particularly Dr. Maikel van Hest, Dr. Dana C. Olson, and Dr. Scott Mauger.

“As NREL researchers, part of our mandate is to help companies move their renewable energy technologies closer to commercialization,” explained Dr. Maikel van Hest, Senior Scientist at NREL. “It's wonderful to contribute to breakthroughs such as this latest achievement, an important step in commercialization of their technology.”

NREL is among the world's most respected and advanced solar-photovoltaic research institutions, and over its 37-year history has been credited for ground-floor support of many of the commercial technologies employed by today's renewable energy industries.

NREL and New Energy have been working through a Cooperative Research and Development Agreement to advance the Company's SolarWindow™ technology for generating electricity on glass windows. The NREL Device Performance Measurement Laboratory is the premier U.S. Department of Energy research laboratory for testing performance of commercial, developmental, and research photovoltaic (PV) devices. The Device Performance group is one of only two laboratories in the world to hold an International Organization for Standardization (ISO) 17025 accreditation for primary reference cell and secondary module calibration, in addition to accreditation for secondary reference cell calibration under American Society for Testing Materials (ASTM), and International Electrotechnical Commission (IEC) standards.

SolarWindow™ researchers have rapidly developed the Company's technology from its early beginnings as a tiny, experimental lab device to a first-of-its-kind, see-through glass window capable of generating electricity. Today, the technology is the subject of forty-two (42) patent filings, and researchers are on track to advance SolarWindow™ towards full-scale commercial manufacturability – a near term goal.

SolarWindow™ is currently under development for eventual commercial deployment in the estimated 80 million detached homes in America and more than five million commercial buildings. The federal government estimates that by catalyzing private sector investments in commercial and industrial building energy upgrades, may make America's buildings 20 percent more efficient over the next decade, reducing energy costs for American businesses by nearly $40 billion.

To view additional photographs of our latest, high performance SolarWindow™ modules, click here.

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 59 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 generates 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. New Energy's SolarWindow™ is the subject of 42 patent applications.

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.

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