Dyesol Limited / Miscellaneous/Miscellaneous
30.07.2010 09:45
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
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Dyesol progressed further in the final quarter of the financial year with
technological collaborations and a restructuring to seriously fast track
growth and commercialisation. The Company has announced:
* The collaboration with CSIRO to develop higher performing dyes in a
two year project that will be funded by an investment of up to $1.17
million from CSIRO's Australian Growth Partnership (AGP) programme.
* The collaboration between Dyesol Inc. and Pilkington North America,
which resulted in the formation of a new company, DyeTec Solar (DTS). DTS
will develop and deliver the Standard Technology Platform solution for mass
manufacture of BIPV (Building Integrated Photovoltaics), AIPV (Automotive
Integrated Photovoltaics), as well as interior PV generating glass based
products, powered displays and security devices.
* Successful completion of the Corus Industrial Development Phase of
DSC on Steel Project (in early July).
To implement the three year strategic commercialisation plan, Dyesol has
embarked on a major restructure with the appointment of a new CEO, Clemens
Betzel who will significantly strengthen the management team. This signals
a greater commercial focus. Consistent with this approach, the company will
fast track its major projects and further invest in R&D support that will
ensure future generations of product and that the roadmap for
industrialisation continues to advance.
The Corus and Pilkington projects remain the cornerstones of Dyesol's
business plan. In particular, good progress has been made towards the joint
project between Dyesol and Corus to industrialise dye solar cell technology
on steel for continuous manufacture of integrated building products, with
the presentation in early July of the achievements and final milestone
elements of the 2 year R&D phase. Dyesol and Corus are now working on the
business case for volume production. In addition, other similar and
significant transactions are also currently being evaluated by board and
management. We continue to remain confident of informing the market of
these developments when they are structured and funded to our satisfaction.
During the quarter the company also successfully completed the share
placement of $12m predominantly to European and domestic institutions.
Stage 1 of the CSIRO project commenced with the funding receipt of $462K
for the provision of research services. Operational expenditures remained
steady with no long-term borrowings and the company closed the quarter with
$13.1m cash at bank.
For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283
4113 or on +61 (0)411 208 951.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
6058804
Note to editors
The Technology - DYE SOLAR CELLS
DSC technology can best be described as 'artificial photosynthesis' using a
layer of nanoparticulate titania (a pigment used in white paints and tooth
paste) coated with a dye and filled with an electrolyte deposited on glass,
metal or polymer substrates. Light striking the dye excites electrons which
are absorbed by the titania to become an electric current many times
stronger than that found in natural photosynthesis in plants. Compared to
conventional silicon based photovoltaic technology, Dyesol's technology has
lower cost and embodied energy in manufacture, it produces electricity more
efficiently in normal light conditions and can be directly incorporated
into buildings by replacing conventional glass panels or metal sheets
rather than taking up roof or extra land area.
The Company - DYESOL Limited
Dyesol is located in Queanbeyan NSW (near Canberra) and in August 2005 was
listed on the Australian Stock Exchange (ASX Code 'DYE'). Dyesol
manufactures and supplies a range of Dye Solar Cell products comprising
equipment, chemicals, materials, components and related services to
researchers and manufacturers of DSC. Dyesol has subsidiaries in UK, Italy,
Switzerland, USA, Korea and Singapore plus representatives and agents in
Turkey, Germany, Abu Dhabi, Malaysia, Taiwan and Japan. The Company is
playing a key role in taking this third generation solar technology from
development into commercial production.
More detail about the company and the technology can be found at:
http://www.dyesol.com
For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283
4113 or on +61 (0)411 208 951.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
6058804
30.07.2010 09:45 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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DGAP-News: Dyesol Limited: Commentary and Update - Final Quarter 2010 - 'ONE DYESOL' - Strengthened management to lead strategic commercialisation programmes
| Source: EQS Group AG