New Energy's SolarWindow™ underwent ongoing stress tests designed to determine the ability of the Company's spray-on electricity-generating coatings to withstand harsh mechanical bending. Upon completion of the tests, scientists concluded that New Energy's spray-on coatings continued to generate electricity on flexible plastic, despite being subjected to severe mechanical forces. In contrast to the Company's spray-on methodology, conventional spin-coatings methods resulted in immediate breakdown, with test devices failing when subjected to like forces.
"The favorable outcomes from these mechanical stress experiments pave the way for our SolarWindow™ technology as a practical solution for generating electricity on the windows of high-performance commercial buildings that are energy-efficient, healthy, and economical," explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.
Scientists conducted their latest tests of New Energy's SolarWindow™ by first applying the Company's see-through electricity generating coatings onto flexible plastic using a spray-on methodology. Unlike temperature and pressure sensitive manufacturing required in the production of other solar-photovoltaic products, New Energy's electricity-generating coatings are sprayed at room-temperature, making this a first-of-its-kind technology -- important to keeping manufacturing costs low.
Researchers then subjected the lab-scale flexible plastic SolarWindow™ to mechanical bend tests in order to determine 'flexural strength.' Bending and flexural strength testing is used to determine whether a material will break or fracture under force or pressure. New Energy's SolarWindow™ continued to generate electricity following these tests.
"Today's favorable results demonstrate the physical strength of our SolarWindow™ coatings, and are especially encouraging when considering the latest advancements to increased transparency and color of our technology, announced only a few weeks ago," said Mr. John A. Conklin.
In recent weeks, scientists successfully developed a first-ever working SolarWindow™ prototype using brand new electricity-generating coatings which lead to increased transparency and enhanced color. Researchers coated the glass surface of a working lab-scale prototype with newly-discovered, organic electricity-generating coatings comprised primarily of hydrogen and carbon. These new coatings favorably influence various electronic, electrochemical, and optical properties of SolarWindow™, essential to producing a highly transparent and aesthetically pleasing soft window tint and color.
Currently under development for eventual commercial deployment in the estimated 85 million commercial buildings and homes in America, SolarWindow™ is the world's first-of-its-kind technology capable of generating electricity on see-through glass windows.
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 18 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 ten 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.
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.
Ms. Briana L. Erickson
New Energy Technologies, Inc.
9192 Red Branch Road, Suite 110
Columbia, MD 21045
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