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

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

Business Wire

COLUMBIA, Md. -- March 6, 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 substrates; and
  *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.
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 12 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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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
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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.

Contact:

New Energy Technologies, Inc.
Ms. Briana L. Erickson, 800-213-0689
Briana@NewEnergyTechnologiesInc.com
www.newenergytechnologiesinc.com