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New Energy Bolsters Patent Portfolio for Technologies Capable of Generating Electricity from the Motion of Vehicles
Monday, March 15, 2010
Burtonsville, MD -- New Energy Technologies, Inc. (OTCBB: NENE), developer of MotionPower™ technologies for generating sustainable electricity from the kinetic energy of moving vehicles and SolarWindow™ technologies capable of generating electricity on see-thru glass windows, today announced that additional patent protection for its MotionPower™ technologies has been filed, building the Company’s portfolio to twelve new patent filings in the United States and internationally.
New Energy’s MotionPower™ technologies are made possible by way of numerous novel patent-pending inventions. These applications are directed to a vehicle energy harvester technology which converts the energy of a moving vehicle into useful power, and further, makes use of vehicle mass, velocity, and acceleration to ultimately produce a set of usable forces in a vehicle energy harvester, such as MotionPower™.
In addition to applications in the United States, the Company’s patent attorneys have filed international patent applications under the Patent Cooperation Treaty (PCT), for its MotionPower™ kinetic energy harvesting technology. The PCT application is an important step in obtaining protection for New Energy’s MotionPower™ technology in as many as 142 nations.
"Our engineering teams have discovered numerous inventions while advancing our technologies from breakthrough engineering to working prototypes," explained Mr. Meetesh V. Patel, President and CEO of New Energy Technologies, Inc. "As we develop an increasingly comprehensive patent portfolio to protect these latest inventions, engineers can more confidently progress our novel MotionPower™ technologies through the next steps, from technical optimization and advanced engineering towards commercialization."
Once fully optimized and commercially installed, engineers anticipate MotionPower™ technologies may be used to augment or replace conventional electrical supplies for powering roadway signs, street and building lights, storage systems for back-up and emergency power, and other electronics, appliances, and even devices used in homes and businesses.
MotionPower™ systems are engineered as a practical and useful alternative energy technology for generating sustainable electricity from the millions of vehicles on our roadways. More than 250 million vehicles are registered in America, and an estimated 6 billion miles are driven on our nation’s roads every day.
As millions of vehicles slow or come to a stop at toll plazas, rest areas, traffic calming areas, drive-thrus, and countless other roadway points, excess ‘kinetic’ energy is produced similar to the kinetic energy present when a bicycle continues to roll even after a cyclist has stopped pedaling. New Energy’s first-of-their-kind MotionPower™ systems are designed to capture the unused kinetic energy of slowing cars, trucks, and heavy commercial vehicles. Once captured, the Company’s MotionPower™ technologies creatively convert this kinetic energy into sustainable electricity.
In recent months, the Company’s engineering teams have made significant advancements with New Energy’s MotionPower™-Auto system for generating electricity from the motion of cars and light trucks, and its MotionPower™-Heavy technology for producing sustainable electricity from the movement of heavy commercial vehicles, including large trucks, long-haul rigs, and buses.
Recently, engineers working to advance-engineer next generation prototypes of the Company’s Motion-Power™-Auto system for cars achieved a 25-fold increase in the system’s capacity to capture energy from moving cars and light trucks.
Last week, engineers also successfully completed the most important advance-engineering and fabrication steps required in the development of commercial-scale prototypes of the Company’s MotionPower™-Heavy technology for generating electricity from the motion of heavy commercial vehicles, including trucks, long-haul rigs, and buses.
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 nine patent applications in the United States and two international patent filings. An estimated 250 million registered vehicles drive more than six billion miles on America’s roadways, every day; and
- SolarWindow™ technologies which enable see-thru windows to generate electricity by ‘spraying’ their glass surfaces with the world’s smallest known solar cells. 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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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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