New Energy Appoints Andrew Farago COO

New Energy Technologies, Inc. announced the appointment of its chief oerating officer, Andrew T. Farago, who brings specific expertise with nurturing growth companies, building corporate partnerships, clean-tech finance, hedge-fund management and operations, and environmental law.

Farago has 16 years of investment, hedge fund and legal experience in renewable and alternative energy. 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, Farago has negotiated and structured the purchase and sale of renewal energy credits (RECs) with total notional value exceeding $40 million.

Farago was an early mover in the environmental credit trading markets including carbon, renewable energy credits (solar, wind, biomass, etc.), and emission reduction credits, among others. He has participated in numerous first-in-kind environmental transactions and has been an active investor in clean technology.

“Coming from an energy-centric career on Wall Street, Andrew brings to our company a rare blend of talent and experience which includes corporate development, finance, alternative and renewable energy transactions, and environmental law,” explained John A. Conklin, president and CEO of New Energy Technologies, Inc. “I’m proud to welcome Andrew to our team during this very exciting time, especially in light of the important progress we’ve made in recent quarters.”

In recent months, the company has achieved significant milestones in the development of its novel, SolarWindow technology, capable of generating electricity on see-thru glass.

“We’ve made important strides in the lab, and I look forward to working with Mr. Farago to aggressively advance our ground-breaking technologies towards full scale commercialization,” concluded Mr. Conklin.

“I am eager to be working with New Energy, whose developmental technology represents a compelling approach to both climate change and securing America’s future energy,” stated Farago.

Mr. Farago has more than 16 years of experience as a practicing attorney, hedge fund and investment professional, and equity trader. A former partner of Gemini Strategies, LLC, an investment management firm, Mr. Farago was responsible for due diligence and certain aspects of portfolio management of solar energy and environmental investments.

Prior to joining Gemini, Farago was employed by RNK Capital, LLC, an investment manager focused on long/short energy equity investments and environmental market strategies. He was instrumental in helping to raise assets under management (AUM) from $30 million to more than $800 million during his tenure. He performed due diligence, negotiated and managed select private investment in public equity (PIPE) transactions and was an early mover and active investor focusing on solar and alternative energy investments.

Previously, Farago served as president and securities principal for Temper of the Times Investor Services, Inc. responsible for overseeing and expanding the general operations of the business. He also has worked as an equity trader with Schonfeld Securities, LLC, a proprietary equities trading firm, where he managed the trading activity of new and mid-level equities traders.

Farago began his career as a practicing attorney for Prudential Securities, Inc., handling trading and investment related matters, and he also worked at AIG, Inc. in environmental litigation.