SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 2 3, 2010
Date of Report (Date of earliest event reported)
New Energy Technologies, Inc.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
333-127953
(Commission File Number)
59-3509694
(I.R.S. Employer Identification No.)
9192 Red Branch Rd.
Suite 110
Columbia, MD 21045
(Address of principal executive offices)
(800) 213-0689
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 1. Registrant’s Business and Operations
Item 1.01 – Entry into a Material Agreement
Effective November 30, 2010 New Energy Technologies, Inc., the Company, through its wholly-owned subsidiary, New Energy Solar Corporation, entered into an Addendum to the license agreement (the “ USF License Agreement ”) with the University of South Florida Research Foundation, a non-stock, nonprofit Florida corporation, under Chapter 617 Florida Statutes, and a direct support organization of the University of South Florida pursuant to section 1004.28 Florida (the “ USF License Addendum ”). The USF License Agreement (and the USF License Addendum) is related to the Company’s continuing development of a prototype flexible semi-transparent organic power foil (1ft by 1ft dimension) for an energy-generating window glass in building-integrated photovoltaic products.
A redacted copy of the USF License Addendum is attached to this Current Report on Form 8-K dated December 2, 2010 as Exhibit 10.1 and incorporated herein by reference.
CONFIDENTIAL PORTIONS OF THE ADDENDUM HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST OF EVEN DATE HEREWITH, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOURASTERISKS [****].
SECTION 2. Financial Information
None
SECTION 3. Securities and Trading Markets
None
SECTION 4. Matters Related to Accountants and Financial Statements
None
SECTION 5. Corporate Governance and Management
N/A
SECTION 6. [Reserved]
N/A.
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SECTION 7. Regulation FD
Item 7.01 Regulation FD Disclosure
Except for the historical information presented in this document, the matters discussed in this Form 8-K, or otherwise incorporated by reference into this document, contain "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are identified by the use of forward-looking terminology such as "believes", "plans", "intend", "scheduled", "potential", "continue", "estimates", "hopes", "goal", "objective", expects", "may", "will", "should" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, apply to forward-looking statements made by the Registrant. The reader is cautioned that no statements contained in this Form 8-K should be construed as a guarantee or assurance of future performance or results. These forward-looking statements involve risks and uncertainties, including those identified within this Form 8-K. The actual results that the Registrant achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These forward-looking statements are based on current expectations, and the Registrant assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by the Registrant in this Form 8-K and in the Registrant's other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect the Registrant's business.
On December 1, 2010 the Company issued a press release announcing that it has entered into an addendum to the License Agreement with the University of South Florida Research Foundation, Inc. (USFRF) to include several additional technologies which enable development of SolarWindow™, the world’s first-of-its-kind product capable of generating electricity on see-through glass windows. A copy of the press release is attached hereto as Exhibit 99.1.
On November 23, 2010 the Company had issued a press release announcing plans to advance its efforts to commercialize the Company’s novel SolarWindow™ technology, in order to accelerate to-market the ‘first-of-its-kind’ product capable of generating electricity on see-thru glass windows. A copy of the press release is attached hereto as Exhibit 99.2.
Note: Information in this report furnished pursuant to Item 7 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this current report shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. The furnishing of the information in this current report is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this current report contains is material investor information that is not otherwise publicly available.
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SECTION 8. Other Events
The Company has changed the address of its principal office to 9192 Red Branch Rd., Suite 110, Columbia, MD 21045.
SECTION 9. Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
The following exhibits are furnished as part of this report:
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 2 nd day of December, 2010.
New Energy Technologies, Inc.
By: /s/ John conklin
John Conklin, Chief Executive Officer, President and Chief Financial Officer
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Confidential Treatment-Redacted Copy
CONFIDENTIAL PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOUR ASTERISKS [****].
ADDENDUM 1 TO LICENSE AGREEMENT
THIS ADDENDUM, is made and entered into this 30th day of November, 2010 (Effective Date of this Addendum), by and between the UNIVERSITY OF SOUTH FLORIDA RESEARCH FOUNDATION, INC., a corporation not for profit under Chapter 617 Florida Statutes, and a direct support organization of the University of South Florida pursuant to section 1004.28 Florida Statutes, having its principal office at 3802 Spectrum Blvd, Suite 100, Tampa, Florida 33620, U.S.A. and New Energy Solar Corporation. Capitalized terms used herein and not otherwise defined shall have the same meaning ascribed to them in the License Agreement.
WHEREAS , on June 21 st ,2010 a License Agreement (“License Agreement”) was entered into by the parties relating to the utilization of Patent Rights associated with USF Technology Referenced as 08B117-Fabrication of Organic Solar Array for Applications in Microelectromechanical Systems and Others; and
WHEREAS , New Energy Solar Corporation wishes to license two additional technologies from UNIVERSITY OF SOUTH FLORIDA RESEARCH FOUNDATION; USF Reference No.- 09B116 and 10B115, and amend the License Agreement to include the same.
NOW , THEREFORE , the parties agree as follows:
1. the License Agreement is hereby amended by:
a.) Deleting the text of Schedule I and replacing it with the attached new Schedule I.
b.) Deleting the text of Appendix D -Milestones and replacing it with the attached new Appendix D- Milestones.
c.) The principle office of the Licensee shall be amended as follows
i) Section 15.2
New Energy Solar Corp.,
9192 Red Branch Road, Suite 110,
Columbia, MD 21045
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Confidential Treatment-Redacted Copy
CONFIDENTIAL PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOUR ASTERISKS [****].
2. Licensee shall pay to Licensor the sum of **** within thirty (30) days of the Effective Date of this Addendum to reimburse any and all prior expenses associated with preparation, filing, prosecution, issuance, maintenance, defense, and reporting of patents and patent applications for ****now included within the definition of Licensed Patents under the License Agreement. ( NOTE : the above referenced dollar amount in this section is subject to change, as all related patent prosecution expense invoices may not have been received from the law firm at the time of this Addendum’s negotiation and execution.) Licensee shall be responsible for and pay all costs and expenses incurred by Licensor related to the future preparation, filing, prosecution (including interferences), issuance, maintenance, defense (including oppositions) and reporting of the Licensed Patents in accordance with the terms of the License Agreement.
3. All terms not defined herein shall have the same meaning as ascribed in the License Agreement. The License Agreement shall remain in full force and effect in accordance with its terms as modified herein. All terms of this Addendum shall control over any conflicting terms in the License Agreement and any Appendices thereto. The foregoing changes, deletions and/or additions in the Addendum are made to and constitute an integral part of the License Agreement as if same were set forth therein.
IN WITNESS WHEREOF , the parties have set their hands and seals and duty executed this Addendum as of the effective date listed in the preamble above.
Signature page to follow
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Confidential Treatment-Redacted Copy
CONFIDENTIAL PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOUR ASTERISKS [****].
UNIVERSITY OF SOUTH FLORIDA NEW ENERGY SOLAR CORP.
RESEARCH FOUNDATION
By:/s/ Valerie Landrio McDevitt By:/s/ John Conklin
Name:_Valerie Landrio McDevitt Name: John Conklin
Title: Assistant Vice President Title: President/ CEO
Division of Patents & Licensing New Energy Solar Corporation
Acknowledged and Agreed to:
_________________________________________________
____________________________________________
Inventor University of South Florida Board of
Trustees, a Public Body Corporate
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Confidential Treatment-Redacted Copy
CONFIDENTIAL PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER A CONFIDENTIAL TREATMENT REQUEST, PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH FOUR ASTERISKS [****].
Schedule I
****
Appendix D- Milestones
****
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Phone: 800-213-0689
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Ms. Briana L. Erickson New Energy Technologies, Inc. 9192 Red Branch Road, Suite 110 Columbia , MD 21045 Email: Briana@NewEnergyTechnologiesInc.com |
News Release
New Energy Bolsters Patent Portfolio & Expands Exclusive Worldwide Licensing Agreement for its SolarWindow™ Technology
Columbia, MD– December 1, 2010 – New Energy Technologies, Inc. (OTCBB: NENE) today announced that the Company has entered into an expanded License Agreement with the University of South Florida Research Foundation, Inc. (USFRF) to include several additional technologies which enable development of SolarWindow™, the world’s first-of-its-kind product capable of generating electricity on see-thru glass windows.
Under terms of the agreement, the Company’s wholly-owned subsidiary, New Energy Solar Corporation, obtained an exclusive worldwide commercial license to numerous discoveries important to achieving transparency and ease of manufacturing of SolarWindow™. Included are new patent filings and inventions, which:
“Through our licensing arrangement, each new scientific and technical discovery in the research facility brings SolarWindow™ one step closer to commercialization,” stated Mr. John A. Conklin, President & CEO of New Energy Technologies, Inc. “This expanded License Agreement strengthens New Energy’s intellectual property portfolio and reinforces our confidence in knowing that important technologies are secured exclusively for our worldwide use as we move SolarWindow™ towards pre-production scale-up and eventual commercial launch.”
“It’s exciting to see bench research applied to the development of meaningful commercial products. Our ongoing collaboration, through this expanded license agreement, with New Energy to develop the SolarWindow TM technology could transform the way in which we view the use of solar energy for our homes, offices, and commercial buildings,” stated Ms. Valerie Landrio McDevitt, Assistant Vice President for Research, Division of Patents and Licensing, University of South Florida, and U.S. Registered Patent Attorney.
USFRF has licensed numerous groundbreaking discoveries and important commercial processes and applications to New Energy for the development of its SolarWindow™. These inventions have been discovered under the auspices of Lead Researcher and Physicist, Dr. Xiaomei Jiang at the University of South Florida.
Currently under development, SolarWindow™ is the first-of-its-kind see-thru glass window technology capable of generating electricity, and according to the Company’s internal financial modeling and energy savings calculations, able to outperform conventional rooftop solar installations by more than 300% when applied to the window facades of commercial skyscrapers. One aspect of New Energy's technology and product development plans for SolarWindow™ addresses the potential application and use in the estimated 5 million commercial buildings in America (Energy Information Administration) and more than 80 million single detached homes.
Financial terms of the expanded License Agreement announced today were not disclosed.
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 New Energy’s electricity-generating coatings. 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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To receive future press releases via email, please visit:
http://www.newenergytechnologiesinc.com/investor_alert
To view the full HTML text of this release, please visit:
http://www.newenergytechnologiesinc.com/NENE20101201
For media inquiries please contact Mr. Jerry Schranz at jschranz@beckermanpr.com, or visit our Media Relations page for additional contact information:
http://www.newenergytechnologiesinc.com/media_relations
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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Phone: 800-213-0689
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Ms. Briana L. Erickson New Energy Technologies, Inc. 9192 Red Branch Road, Suite 110 Columbia , MD 21045 Email: Briana@NewEnergyTechnologiesInc.com |
News Release
New Energy Announces Plans to Accelerate Commercialization of its Proprietary SolarWindow™Technology
Columbia, MD– November 23, 2010 – New Energy Technologies, Inc. (OTCBB: NENE) today announced plans to advance its efforts to commercialize the Company’s novel SolarWindow™ technology, in order to accelerate to-market the ‘first-of-its-kind’ product capable of generating electricity on see-thru glass windows.
Electrical power is generated on glass by spraying New Energy’s SolarWindow™ coatings onto surfaces using commercially available equipment.Through the Company’s patent-pending process, company researchers spray SolarWindow™ coatings onto glass at room temperature, eliminating expensive and often cumbersome high-temperature or high-vacuum production methods typically used by current solar manufacturers.
Unique to SolarWindow™, glass surfaces remain see-thru, and generate electricity in both natural and artificial light conditions.In artificial light, New Energy’s SolarWindow™ technology outperforms today’s commercial solar and thin-films by as much as 10-fold under low-intensity irradiance. This feature was recently demonstrated at a public unveiling of SolarWindow™.
At the SolarWindow™ debut, company scientists demonstrated the technology’s ability to generate ‘voltage’ to power lighting, and also revealed SolarWindow’s capacity to produce ‘current’ necessary for powering mechanical devices and appliances.
“Our demonstration of SolarWindow’s ability to generate both current and voltage on glass surfaces, while remaining see-thru, is an incredible technical achievement and marks a pivotal maturation point for New Energy, where we have transitioned from early research towards product development, and eventual commercial launch,” explained Mr. John A. Conklin, President & CEO of New Energy Technologies, Inc.
“SolarWindow™ is a fantastic product under development, which not only promises to deliver significant environmental benefits to consumers, but also bears enormous commercial opportunity for all of our stakeholders. The prospect of creating a technology capable of turning otherwise passive window panes into see-thru power generators in an estimated 5 million commercial buildings and 80 million detached homes in America, is very exciting.”
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“In upcoming quarters and the year ahead, we anticipate undertaking significant efforts to accelerate our SolarWindow™ towards commercialization. Our priorities include the development of additional patent protection, improved manufacturability, increased power production, advanced power output modeling, and attracting management-level talentable to help advance our breakthrough technology from the research-bench to commercial market,” concluded Mr. Conklin.
Specific initiatives related to the development of SolarWindow™ include:
1. Technical improvements designed to:
a. Improve cell efficiency and performance;
b. Increase transparency of glass surfaces;
c. Enhance durability;
d. Ensure long-term product performance;
e. Scale-up current working prototype; and
f. Develop low-cost manufacturing methods.
2. Strategies designed to:
a. Bolster commercial protection with additional patent filings;
b. Pursue commercial partnership opportunities;
c. Secure third-party certification of the SolarWindow™ ‘module’ performance; and
d. Create advanced models ofSolarWindow’s power production when applied to an entire building as a ‘system’.
The Company is working to develop an advanced power output model which accounts for performance and operating characteristics and which can serve as a basis for preliminary system sizing, value engineering, economic analysis, and power offset estimates -- important considerations to prospective SolarWindow™ commercial customers.
Currently under development, SolarWindow™ is the first-of-its-kind see-thru glass window technology capable of generating electricity, and according to the Company’s internal financial modeling, able to outperform conventional rooftop solar installations by more than 300% when applied to the facades of commercial towers.
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 New Energy’s electricity-generating coatings. These
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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 our various 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 the established infrastructure of the various organizationswe 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.
To receive future press releases via email, please visit:
http://www.newenergytechnologiesinc.com/investor_alert
To view the full HTML text of this release, please visit:
http://www.newenergytechnologiesinc.com/NENE20101123
For media inquiries please contact Mr. Jerry Schranz at jschranz@beckermanpr.com, or visit our Media Relations page for additional contact information:
http://www.newenergytechnologiesinc.com/media_relations
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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