Published: February 04, 2011
New Energy Appoints Chief Financial Officer, Mr. Elliot M. Maza, JD, CPA
COLUMBIA, Md. - (BUSINESS WIRE) - New Energy Technologies, Inc. (OTCBB: NENE), a developer of renewable
and alternative energy technologies, is pleased to announce the
appointment of its Chief Financial Officer, Mr. Elliot M. Maza, who
brings more than 25 years of corporate finance, regulatory compliance,
accounting, and legal expertise to the Company.
Mr. Elliot M. Maza, JD, CPA Chief Financial Officer New Energy Technologies, Inc. (Photo: New Energy Technologies, Inc.)
Notably, Mr. Maza served as Partner, Transaction Advisory Services at
Ernst & Young LLP, New York, NY, and previously as Vice President,
Structured Finance at the New York, NY offices of both Goldman Sachs &
Co and JP Morgan Securities, Inc. Early in his career, Mr. Maza tenured
as Tax and Corporate Attorney at Sullivan & Cromwell, a 130 year old
global law firm. At their New York, NY offices, he advised multinational
corporations and investment banks on tax consequences of equity, debt
and derivative structures as well as domestic and cross-border merger
and acquisition (M&A) transactions.
Mr. Maza received his B.A. degree from Touro College in New York and his
J.D. degree from the University of Pennsylvania Law School. He is a
licensed C.P.A. in the states of New Jersey and New York and is a member
of the New York and New Jersey State Bar.
Mr. Maza joins New Energy as Chief Financial Officer, on a non-exclusive
basis and, in addition to other appointments, continues to serve on the
Board of Directors and is Chairman of the Audit Committee of a
publicly-traded company, Chinese miner, refiner and producer of high
purity tellurium (Te) and other metals for the solar photovoltaic (PV)
industry. He has served on the Board of Directors, and was previously
Chairman of the Audit Committee, of several biotechnology and
pharmaceutical companies. Mr. Maza also actively serves at a
publicly-traded biotechnology company, where among other achievements,
he has secured and successfully executed multiple financing
transactions, and consummated intellectual property licenses with
numerous global pharmaceutical companies.
"I'm honored to welcome Mr. Maza to our team, as part of our ongoing
efforts to strengthen the Company's management team in preparation for
the commercialization of our core technologies," stated Mr. John
Conklin, President and CEO of New Energy Technologies, Inc. "Recently,
we've worked hard to build our management group, following several
technical breakthroughs with important commercial benefits for both our
SolarWindow and MotionPower technologies."
Mr. Maza's appointment follows the recent addition of Chief Operating
Officer, Mr. Andrew T. Farago, JD, who brings 16 years of investment,
hedge fund, and legal experience in renewable and alternative energy
experience. He is credited with helping grow assets under management
from $20 million to over $800 million during his tenure at RNK Capital,
LLC, a New York based investment management company, exclusively focused
on energy, clean-tech, and the trading of environmental credits. In
addition to operations and finance, Mr. Farago has negotiated and
structured the purchase and sale of Renewal Energy Credits (RECs) with
total notional value exceeding $40 million. Mr. Farago is a licensed
attorney admitted to practice law in the State of New York, and was
previously FINRA Series 7, 63, 55, and 24 licensed. Mr. Farago holds a
B.A. in psychology from Syracuse University and a JD from Touro College
Jacob D. Fuchsberg Law Center.
Last week, the Company also announced important additions to its
Scientific Advisory Board, including the appointment of Dr. Steven S.
Hegedus, to assist with development of New Energy's SolarWindow ,
capable of generating electricity on see-thru glass windows.
Dr. Hegedus is a Research Scientist at the Institute of Energy
Conversion (IEC) at the University of Delaware, the world's oldest
photovoltaic research laboratory. Dr. Hegedus is credited with more than
90 scientific publications related to thin film solar cell fabrication,
characterization, manufacturing methods and reliability studies, and has
played an active role in the development of numerous solar cell
technologies, which have subsequently been commercialized. Dr. Hegedus
received a Bachelors in Electrical Engineering from Case Western Reserve
University in 1977, a Masters in Electrical Engineering from Cornell
University, and Ph.D. in Electrical Engineering from the University of
Delaware.
The Company also appointed Mr. Jerry Lynch, PE, to its Scientific
Advisory Board, to assist with the development of its MotionPower
technologies for generating electricity from the motion of cars, trucks,
and commercial vehicles.
Mr. Jerry Lynch is a licensed professional engineer in NY and NJ, and
has authored numerous articles on design and industrial manufacturing.
He has been certified by NIST as a LEAN Manufacturing Expert and has
helped over 20 firms develop smart manufacturing methods and approaches.
Mr. Lynch has been responsible for the design and successful launch of
hundreds of innovative technical new products, and brings significant
international experience on major projects in Abu Dhabi, UAE, France,
Philippines, Singapore, Indonesia and Spain. Over the past 7 years he
has personally been involved in four pilot projects in the renewable
energy sector, specifically in solar and hydrokinetic power generation.
Mr. Lynch has a BS in Engineering from the State University of New York
at Stony Brook, a MS in Business Management from Stevens Institute of
Technology, NJ.
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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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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6597489&lang=en
New Energy Technologies, Inc.
Ms. Briana L.
Erickson, 800-213-0689
Briana@NewEnergyTechnologiesInc.com
www.newenergytechnologiesinc.com
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