New device for capturing kinetic energy from vehicles?

Washington D.C.-based New Energy Technologies Inc. (OTCBB: NENE) said today it has developed a way to harness the kinetic energy of moving vehicles and generate electricity.

Dubbed MotionPower, the modular system could apparently be used to augment or replace conventional electricity supplies for powering roadway signs, street and building lights, storage systems for back-up power and other electronic devices.

The news did little to move the stock price of the company however, which fluctuated between $.23 and $.28, before closing at $.25, the same as Friday’s close.

Formerly Octillion, the company changed its name to New Energy Technologies in January 2009 and relocated from Vancouver to Washington-D.C.

The 11-year-old group, which said in 2007 it had engineered and assembled a solar glass prototype, intends to begin tweaking the MotionPower design for installation. (see Octillion claims solar glass progress).

The company said it intends to install the device in high traffic locations such as toll booths, traffic intersections, rest areas, travel plazas, restaurant and bank drive-thrus, border crossings, and neighborhoods with traffic calming zones.

Engineers are apparently working now to increase design efficiency, ensure the modules can be easily manufactured, and are resistant to damage from vehicles, road debris or weather.

“For the first time ever, Americans stand to generate valuable electricity by simply driving their cars through our easy-to-install, portable MotionPower devices,” said Meetesh V. Patel, President and CEO of New Energy Technologies, Inc. “With nearly 250 million cars traversing America’s roadways, we’re poised to capitalize on an untapped commercial opportunity, while delivering timely cost-savings and long-term environmental benefits to energy consumers.

Kinetic energy is among the least populated energy disciplines, with just a handful of companies pursuing scale commercialization (see M2E captures $8 M with kinetic energy).