New Energy Enters into Second Technology Development Agreement with NREL to Advance SolarWindow Towards Commercialization

Jointly, the Company and NREL plan to advance New Energy's electricity-generating device by enhancing performance, processing, and lifetime.

COLUMBIA, Md., Mar 06, 2013 -- New Energy Technologies, Inc. (otcqb:NENE) today announced that the Company has entered into Phase 2 of its Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) to advance the development of its SolarWindow technology, capable of generating electricity on glass.

Jointly, the Company and NREL plan to advance New Energy's electricity-generating device by enhancing performance, processing, and lifetime. Under the terms of the agreement, researchers will additionally work towards optimizing the deposition of various coatings on flexible surfaces; these layers allow for electricity to be generated on surfaces such as see-through and tinted plastics.

"This second phase of the CRADA emphasizes the Company's active commitment to develop the SolarWindow see-through electricity-generating coatings into commercially valuable building integrated products, with the assistance of world-class research teams at NREL," explained Mr. J. Patrick Thompson, Vice President, Business and Technology Development for New Energy Technologies, Inc. "Naturally, we're pleased to continue our ongoing research and development relationship with NREL in Golden, Colorado. NREL is one of the world's most respected and advanced solar-photovoltaic research institutions."

Under terms of the agreement, the Company's Principal Scientist, Dr. Scott Hammond and NREL research scientists will make use of intellectual property brought into and developed under the CRADA in order to work towards specific product development goals. Future development plans include efforts to:

* Further improve SolarWindow efficiency and transparency;

* Optimize electrical power (current and voltage) output;

* Optimize the application of the active layer coatings which make it possible for SolarWindow to generate electricity on glass surfaces;

* Develop improved electricity-generating coatings by enhancing performance, processing, reliability, and durability;

* Optimize SolarWindow performance on flexible

* Develop high speed and large area roll-to-roll (R2R) and sheet-to-sheet (S2S) coating methods required for commercial-scale BIPV and windows.

"Company and NREL scientists jointly developed this CRADA to maintain focus on SolarWindow power production, large area and high speed coating equipment and methods, improving reliability and performance, and commercialization," explained Mr. John A. Conklin, President & CEO of New Energy Technologies, Inc. "As we work towards commercialization, the market potential of deploying a readily-available and affordable see-through glass window capable of generating electricity continues to aggressively drive our product development efforts."

The commercial opportunity to install see-through, electricity-generating glass windows in commercial buildings, tall towers, and skyscrapers, is significant. There are nearly five million commercial buildings in the United States, and an increasing demand for 'green' buildings. Driven by rising energy costs, increasing electricity consumption, government initiatives, and heightened consumer awareness, the demand for green construction and sustainable materials continues to rise.

Currently under development for eventual commercial deployment in commercial buildings and homes in America, SolarWindow technology is the subject of twelve patent filings and is the world's first-of-its-kind see-through technology capable of generating electricity on 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. 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 more information please visit:

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