Burtonsville, MD – May 17, 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 plans to initiate first-ever field tests of the Company’s recently prototyped MotionPower™-Heavy technology with Heller Industrial Parks’ flagship industrial park in metropolitan New York, in one of the largest contiguous foreign-trade zones in the United States. 

“We’re eager to field test the MotionPower™-Heavy system in real world settings as part of our ongoing efforts to aggressively engineer, test, refine, and ultimately, commercially launch America’s first active roadway energy capture system of its kind,” stated Mr. Meetesh V. Patel, President and CEO of New Energy Technologies, Inc. 

“I’m proud to announce that our first-ever field tests of this brand new technology will take place with Heller, one of America’s largest and most respected privately-held owners and developers of industrial real estate and commercial distribution sites.  I’m especially excited that our tests will be conducted at Heller’s flagship location, servicing the East Coast’s largest maritime cargo center and the third largest port in the nation.  We couldn’t ask for a better location!”

“New Jersey is strategically centered between Boston and Washington, D.C., with a strong highway network. Having warehouses close to the port enables distributors to decrease handling time and labor costs on products,” explained Mr. Jeffrey J. Milanaik, President of Heller Industrial Parks, Inc. 

“Our clients not only demand superior locations, but state-of-the-art facilities.  Heller has a long history of being ahead of the curve when it comes to innovation and we are constantly looking for ways to provide clients with enhanced energy efficiency. It’s very exciting to be involved in the early testing and development of a brand new technology designed to generate electricity from the motion of vehicles.”

MotionPower™-Heavy: Discreetly Capturing Kinetic Energy to Generate Sustainable Electricity

Engineers consider high traffic installation sites, such as the Heller location, ideal for harvesting the excess ‘kinetic’ energy of commercial trucks and big rigs to generate sustainable electricity using New Energy’s first-of-its-kind MotionPower™-Heavy technology. Excess kinetic energy is produced similar to the energy present when a bicycle continues to roll even after a cyclist has stopped pedaling. 

New Energy’s discreet, low-profile MotionPower™ systems are designed to capture the unused kinetic energy of slowing heavy commercial vehicles only at points where they are required to slow down or come to a stop, thus ensuring that moving vehicles are not ‘robbed’ of energy otherwise required to accelerate.  Once captured, the Company’s MotionPower™ technology creatively converts this excess kinetic energy into sustainable electricity.

Click here to view a video demonstration of the MotionPower™-Heavy commercial-scale prototype, unveiled last month:
www.NewEnergyTechnologiesInc.com/HeavyVideo

Click here to read New Energy’s April 29, 2010 press release, announcing completion of the MotionPower™-Heavy prototype:
http://www.newenergytechnologiesinc.com/NENE20100429

Having completed the Company’s first commercial-scale MotionPower™-Heavy prototype, New Energy engineers will conduct field-tests of the technology in real world settings, such as Heller’s industrial distribution site in Edison, New Jersey.

The MotionPower™-Heavy system will be tested at Heller’s 8.7 million square foot flagship Industrial Park located in Edison, NJ, designated a part of a fully certified United States Foreign Trade Zone (FTZ) 49 – one of the largest contiguous foreign-trade zones in the United States.  The site is located at interchange 10 at the New Jersey Turnpike, the nation’s 5th busiest toll road in the heart of the Northeast Corridor, midway between Boston and Washington, D.C. and between New York City and Philadelphia with direct links to Newark Liberty International Airport, Philadelphia Airport and the Port of New York and New Jersey, the third-largest seaport in North America and the largest maritime cargo center on the East Coast.

As one of the largest private owners of distribution space in the country, Heller boasts an inventory of over 16 million square feet of space in six states including over 12 million square feet concentrated in New Jersey’s heavily traveled Northeast corridor, 1.5 million square feet in the Dallas/Ft. Worth area, 420,000 square feet in rapidly expanding Houston, and 2 million square feet in Pennsylvania, Illinois, Indiana, Kentucky and Florida.

Engineers envision installation of MotionPower™-Heavy systems across the nation, at active warehousing-distribution centers, cargo loading areas, ports of entry, border crossings, toll booths, weigh scales, rest stops, and other sites where large commercial trucks and big rigs are required to slow down or come to a stop. 

About Heller Industrial Parks, Inc.

Founded 1966, Heller Industrial Parks is one of the nation’s largest privately held industrial park owner and developers, specializing in the building, leasing and management of strategically located distributions centers. The company’s success lies in its ability to locate and reposition overlooked development opportunities. Heller owns more than 12 million square feet of space in New Jersey, concentrated in the state’s heavily traveled Northeast corridor, as well as 1.5 million square feet in the Dallas/Ft. Worth area, 420,000 square feet in the rapidly expanding Houston market, and a total of 2 million square feet in Pennsylvania, Illinois, Indiana, Kentucky and Florida. While industrial distribution centers are the core of the company’s business, Heller’s future includes high-density residential and mixed-use development, as well as renewable energy farming. For more information, visit www.hellerpark.com.

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. An estimated 250 million registered vehicles drive more than 6 billion miles on America’s roadways, every day; and

• SolarWindow™ technologies which enable transparent glass windows to generate electricity by coating 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 recently 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.