Company Website:
http://www.NewEnergyTechnologiesInc.com
COLUMBIA, Md. -- (Business Wire)
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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http://www.newenergytechnologiesinc.com/media_relations
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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.
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Contacts:
New Energy Technologies, Inc.
Ms. Briana L. Erickson,
800-213-0689
Briana@NewEnergyTechnologiesInc.com
www.newenergytechnologiesinc.com
Source: New Energy Technologies, Inc.
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