Company Working To Develop Solar Energy Windows

New Energy Enters into Cooperative Research & Development Agreement with
U.S. Department of Energy’s National Renewable Energy Laboratory

Columbia, MD – March 29, 2011 – 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(TM), 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(TM) 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(TM).”

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(TM) efficiency and transparency;
· Boost electrical power (current and voltage) output;
· Optimize the application of the active layer coatings which make it possible for SolarWindow(TM) to generate electricity on glass surfaces;
· Increase the size of the active layer in SolarWindow(TM), 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(TM) 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(TM) technology is under development for commercial application in such buildings.

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(TM) 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(TM) 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, visit:

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