DGAP-News: Dyesol Limited: Commentary and Update - 1st Quarter FY2012


DGAP-News: Dyesol Limited / Key word(s): Miscellaneous/Miscellaneous
Dyesol Limited: Commentary and Update - 1st Quarter FY2012

26.10.2011 / 09:29

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During the period we continued to advance our partner projects and work
towards the implementation of our technology road map in a cost effective
manner. Underpinning the technology roadmap is the key research undertaken
by Dyesol within Australia and through its overseas subsidiaries, and with
various collaborative parties globally. Working in this collaborative
framework enables Dyesol to considerably leverage its resource base, and
access new technologies and materials. A coherent, well-structured and
robust material supply chain is crucial for Dyesol to support our partners
as they move to commercialisation.

Dyesol formally completed the Welsh Government supported project to the
complete satisfaction of the assessment authority. The last 2 milestones of
the Dyesol Tata collaborative 'DSC on Steel' project were presented to the
Welsh Government and involved a completed study of process capabilities, an
important precursor to large scale production, and a comprehensive review
of the Intellectual Property relevant to DSC application on metal strips.

The Dyesol and Tata teams have since been progressing two main activities -
product performance advancement as planned in the technology roadmap and
demonstration product manufacture. Dyesol's key input has been to
demonstrate significant performance enhancement well in advance of the
technology roadmap. The bonus has been achieved through new dye, conductor
and titania compositions and takes us a lot closer to the goal of grid
parity. A second demonstration roof is being built over the next quarter.
On the research front, the scientists working on the FP7 projects have
achieved a substantial increase in cell voltage through ion modified
titania as well as producing and demonstrating DSC on fibre matt suitable
for 3D applications.

In North America, Dyesol Inc. successfully supplied and commissioned
equipment for the Dyesol-Pilkington North America DyeTec Solar Joint
Venture. This equipment is for a DSC (dye sensitized solar cell) based BIPV
(building integrated photovoltaic) program which received funding from the
Ohio Third Frontier Fund.  Commercial and residential buildings consume a
significant amount of energy, and glass based DSC technology is ideally
suited to use as a building façade material to capture and convert the
light falling on the side of a building into electricity for immediate use
within the building.

Dyesol is now a significant step closer to commercialising the outcomes of
the joint research agreement between the company and Australia's
Commonwealth Scientific and Industrial Research Organisation (CSIRO),
following the completion of stage 2 of the program funded by CSIRO's
Australian Growth Partnership. The materials developed during this joint
collaboration project have the potential to significantly advance the
commercialisation of DSC in a range of applications where performance and
stability are essential requirements.

Dyesol recently recruited a Brand Manager who will head our effort to
improve information available to shareholders, our responsiveness to
requests for updated company information, and to substantially revamp our
website and online communications.  This appointment was made to address
concerns raised by our shareholders on the need for improved communication,
and our recognition that as a company we needed to build on our strong
brand to better position Dyesol to a range of key stakeholders. The
appointee, Angela Geary, has a strong marketing background from her work in
the private sector and for peak industry associations.

Planning has begun for the next DSC-IC conference to be held in in late
September or early October 2012 in the UK. The dates will be finalised
shortly and a 'Save That Date' announcement will be distributed to the DSC
global community in the coming weeks.  This conference provides the DSC
community with valuable insights and updates on key developments that are
impacting our industry and driving DSC application in various industry
sectors.  This will be the 5th DSC-IC conference Dyesol has organised and
provides Dyesol with invaluable exposure to the DSC industrial, scientific
and investor community and will coincide with a number of exciting industry
developments.

During the quarter, aside from the Stage 3 CSIRO project payment of
$366,000, the net operating expenditure continues to be on target with the
Company monthly burn range of $800,000 to $900,000. Cash at the end of the
September quarter was $4 million with an equity line of credit available of
up to $18.6 million.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&id
sId=01232611

--Ends--

For media queries in Australia contact Angela Geary, Dyesol Brand Manager
on +61 (0)2 6299 1592.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
605 8804.
In the Americas contact Josh Seidenfeld, Antenna Group,
Dyesol@antennagroup.com,+1 415 977 1953.

The Technology - DYE SOLAR CELLS 
DSC technology can best be described as 'artificial photosynthesis' using
an electrolyte, a layer of titania (a pigment used in white paints and
tooth paste) and ruthenium dye 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
even in low 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, a global company headquartered in Australia, was founded to
commercialize and supply 3rd generation solar technology - Dye Solar Cells
(DSC).  DSC uses a form of artificial photosynthesis to capture energy like
a leaf, using a dye analogous to chlorophyll.  Dyesol provides photovoltaic
functionality to mainstream products, by developing and supplying materials
and technology to global partners which have routes to market for solar
enabled components, including building products such as glass and steel for
facades and roofs.   The company is listed on the Australian Stock Exchange
(DYE), the German Open Market, and is trading on the OTCBB (DYSOY) through
its depositary BNY Mellon.  More details about the company and the
technology can be found at: http://www.dyesol.com


End of Corporate News

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143516 26.10.2011