Burtonsville, MD – February 2, 2010 –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 the appointment of Mr. J. Brent Wilkinson as Chief Operating Officer and Vice President of Corporate Development. Mr. Wilkinson is a 24-year veteran who has successfully grown several early-stage technology companies from concept to commercialization and revenues.
As CEO of Nexus Technology Group, Mr. Wilkinson grew the company from zero revenue into a multi-million dollar, award-winning business in two years. At Mielach Company, Mr. Wilkinson served as Chief Operating Officer where he increased the $20M/year manufacturing company’s profitability by 200%. Leading mergers and acquisitions for Precise Software, he closed several acquisitions valued over $50 million, and successfully quadrupled the profitability of one acquisition as its General Manager.
“I’m honored to welcome Brent to our team. He brings a unique expertise with building multi-million dollar commercial enterprises from new ventures, including in the energy and new technology sectors,” stated Mr. Meetesh V. Patel, Esq., President and CEO of New Energy Technologies, Inc. “Mr. Wilkinson’s arrival is especially timely in light of recent breakthroughs with New Energy’s SolarWindow™ technology and numerous advances with the prototypes of our MotionPower™ technologies.”
Recently, the Company announced significant breakthroughs in the development of its first-of-its-kind SolarWindow™ technology capable of generating electricity on see-thru windows. Researchers replaced ‘visibility-blocking’ metal with see-thru, environmentally-friendly compounds, and unveiled a novel, patent-pending process for ‘spraying’ solar cells onto glass – an achievement that could provide significant cost-savings, high-speed production, and room-temperature deposition.
Previously, the Company bolstered the patent protection of its MotionPower™ kinetic energy harvesting technology for generating electricity from the motion of vehicles. Engineers achieved a two-fold increase in the capacity of the MotionPower™-Heavy device to capture kinetic energy from the movement of heavy trucks, buses, and long haul rigs. Likewise, engineers also achieved a 25-fold increase the capacity to capture kinetic energy using the Company’s MotionPower™-Auto device to generate electricity from the movement of cars and light trucks in its most recent prototype.
“I am impressed by Mr. Patel’s early efforts in creating working prototypes for our technologies and am eager to now aggressively advance these innovative energy devices through the field testing, production engineering, and commercial launch phases,” explained Mr. Wilkinson, newly-appointed COO of New Energy.
Mr. J. Brent Wilkinson: Concepts to Commercialization
Mr. J. Brent Wilkinson is a seasoned professional with a breadth of development, operations and sales experience. As an executive and board-level advisor, he has led companies through transformational growth and product commercialization. His hands-on corporate development experience is extensive, spanning sales, marketing, operations, manufacturing, finance, mergers and acquisitions, research and development, and raising capital.
Early in his career, Mr. Wilkinson served as CEO of Nexus Technology Group, which he grew from zero revenue into a multi-million dollar, award-winning business in two years. As Chief Operating Officer for Mielach Company, Mr. Wilkinson increased the $20M/year manufacturing company’s profitability by 200%. Leading mergers and acquisitions for Precise Software, he closed several acquisitions valued over $50 million dollars, and successfully quadrupled the profitability of one acquisition as its General Manager.
Mr. Wilkinson’s leadership with technology companies spans beyond clean technologies, and includes computer software, financial services, management consulting, construction, and public utilities. In recent years, he has successfully implemented alternative energy initiatives such as LEEDS compliant solutions, which in turn, empower client-companies with Platinum and Gold Certifications. With another successful alternative energy initiative, he has helped develop revenue-generation plans for solar products and pursued fund-raising efforts.
Mr. Wilkinson graduated cum laude from Harvard College and earned his Master’s in Business Administration from Harvard Business School.
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.
