Mar. 29, 2011 (Business Wire) -- New Energy Technologies, Inc. (OTCQB: NENE, NENED - temporary), is pleased to announce that as part of its efforts to advance the commercial development of SolarWindow™, capable of generating electricity on see-thru glass, the Company has entered into a Cooperative Research and Development Agreement (CRADA) with The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Golden, Colorado. NREL is one of the world’s most respected and advanced solar-photovoltaic research institutions.

“The addition of NREL’s world-class solar research group to our ongoing efforts at the University of South Florida marks a significant step forward for our Company and our SolarWindow™ technology,” explained Mr. John A. Conklin, President & CEO of New Energy Technologies, Inc.

“The goals of this CRADA move us definitively towards product development, important to the commercialization of SolarWindow™.”

Under terms of the CRADA, NREL researchers will make use of the Company’s exclusive intellectual property and NREL’s background intellectual property in order to work towards specific product development goals, including efforts to:

• Further bolster SolarWindow™ efficiency and transparency;
• Boost 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;
• Increase the size of the active layer in SolarWindow™, key to increasing the size of the final commercial product; and
• Develop improved electricity-generating coatings by enhancing performance, processing, reliability, and durability.

“We’re always eager to help industry advance renewable energy breakthroughs towards commercial products. I welcome the opportunity to work with New Energy Technologies on the development of its SolarWindow™ technology,” stated Ryne Raffaelle, director of NREL’s National Center for Photovoltaics.

There are nearly 5 million commercial buildings in America, according to the Energy Information Administration, and more than 80 million single detached homes. New Energy’s SolarWindow™ technology is under development for commercial application in such buildings.

About The National Renewable Energy Laboratory (NREL)

NREL is the U.S. Department of Energy's primary national laboratory for renewable energy and energy efficiency research and development. NREL is operated for DOE by The Alliance for Sustainable Energy, LLC. More about NREL’s photovoltaic research can be found at http://www.nrel.gov