On 8th March 2010, Dyesol (ASX:DYE) announced a collaboration with Pilkington North America (PNA) to develop opportunities in the building integrated photovoltaic (BIPV) market place utilising Pilkington’s TEC series of transparent conductive oxide (TCO*) coated float glass and Dyesol’s dye solar cell (DSC) materials and technology. PNA is part of the NSG Group (NSG), one of the world’s largest manufacturers of glass and glazing products for the building, automotive and specialty glass markets.
This announcement is to inform ASX and Dyesol’s shareholders that the two companies have signed a Memorandum of Understanding (MOU) to form a Joint Venture (JV) which will be located in the USA. In addition to optimising the TCO glass produced by Pilkington and the DSC materials and technology controlled by Dyesol, the joint venture will develop and deliver a total platform solution to downstream suppliers to the building and construction markets seeking to develop glass-based BIPV products. The opportunities for the platform solution include BIPV, solar panels, automotive glazing, photovoltaic powered displays, and security products. The proposed JV is planned to collaborate directly and indirectly with and assist organisations worldwide to bring products to market. The combination of Pilkington’s leading expertise in TCO glass, including their vast experience in glass products, plus Dyesol’s recognised leadership in DSC technology is designed to ensure that the best technology platform for long-life high performing DSC glass products will be available.
Marc Thomas, CEO Dyesol, Inc. comments: “Pilkington has the reputation for quality and engineering excellence in the architectural and flat glass market. Pilkington TCO coated glass has been used globally for energy efficiency and active glazing for over 20 years and Pilkington is the market leader. PNA has maintained its leadership position by producing the best performing and highest quality TCO glass (sold under the TEC product line). Pilkington TEC product is the most specified TCO glass worldwide and has been the glass of choice for Dyesol’s DSC development programme since its inception in 1994.”
By far the biggest potential market for DSC glass is in BIPV. Of the nearly 50 million tonnes of flat glass produced annually, about 90% is used in buildings. When this is coupled with the fact that over 50% of all electricity worldwide is utilised in buildings, the demand for energy efficient and energy producing glazing and interior glass-based products in buildings becomes easy to identify. While all photovoltaic technologies can be applied to roofs in good solar environments, only DSC can produce power all day every day in any sunlight condition. The world is becoming increasingly urbanised and world’s cities comprise a much larger proportion of walls and facades than roofs. This is exemplified by the fact that the average GDP growth since 1990 is 2.7% p.a. while the glass usage growth is 4.2% p.a. cumulative. Flat glass is the key growth industry in the expansion of the built environment.
Richard Caldwell, Executive Chairman Dyesol Limited notes “Dyesol is committed to establishing best-in-class partnerships with the leaders in market segments which leverage the strengths of Dyesol’s DSC products and technology. The addition of Pilkington also aligns with the existing Corus programme, and strategically positions Dyesol and its partners to make significant progress in advancing the glass and metal based BIPV markets, respectively. In summary, Dyesol has now established strategic relationships with global leaders to completely cover a building with energy harvesting technologies which utilise Dyesol materials.”
Richard Altman, President of Building Products North America stated, “Pilkington has been involved in various ongoing solar initiatives since the late 1980’s. The Dyesol initiative affords Pilkington another solar platform to further expand our portfolio of strategic initiatives in this arena. Dyesol’s technology is an attractive BIPV opportunity leveraging the world leading technologies of both companies.”
*TCO glass is a float glass with a transparent tin oxide coating specifically designed for use with photovoltaic cells to provide heightened transmittance and improved conductivity properties.
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
Showing posts with label dyesol. Show all posts
Showing posts with label dyesol. Show all posts
Tuesday, 6 April 2010
Tuesday, 23 March 2010
Dyesol debuts in Bloomberg’s top five New Energy Pioneers
Dyesol Limited (ASX: DYE) is one of only five companies in the world and the only Australian company to make the Bloomberg New Energy Finance New Energy Pioneers.
New for the 2010 Bloomberg New Energy Finance Summit, the Pioneers Programme recognises five companies that Bloomberg New Energy Finance analysts consider to be highly promising and progressive in the field of new energy technology and innovation.
The companies – AlertMe, Magnomatics, Novacem, Topell Energy and Dyesol – represent a range of sectors, from energy storage conversion to energy efficiency and transportation. The companies were recognized at the third annual Bloomberg New Energy Finance Summit in London yesterday.
“Bloomberg New Energy Finance chose these companies because we feel they are potential ‘game changers’ in new energy technology and innovation,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance.
“The work they are doing is progressive and significant to the future of the energy sector, and they could play a significant role in the world’s transition to a lower carbon, more secure, smart, decentralised energy system.”
According to Dyesol’s executive chairman Mr Richard Caldwell, “To be included in the Bloomberg New Energy Finance New Energy Pioneers is a magnificent achievement for Dyesol. We are indeed proud and honoured to be recognised, as the world leader in our field,” he said.
In a world class performance, Dyesol also announced last week that the company has partnered with one of the world’s largest glass makers Pilkington North America to develop and commercialise glass with power generating capabilities.
Initially the collaboration will address the non-view glass market (spandrel) which accounts for 40 per cent of the total glass market.
The global market for flat glass is estimated to be 6 billion square metres in 2010 and growing at 5 per cent a year.
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.
New for the 2010 Bloomberg New Energy Finance Summit, the Pioneers Programme recognises five companies that Bloomberg New Energy Finance analysts consider to be highly promising and progressive in the field of new energy technology and innovation.
The companies – AlertMe, Magnomatics, Novacem, Topell Energy and Dyesol – represent a range of sectors, from energy storage conversion to energy efficiency and transportation. The companies were recognized at the third annual Bloomberg New Energy Finance Summit in London yesterday.
“Bloomberg New Energy Finance chose these companies because we feel they are potential ‘game changers’ in new energy technology and innovation,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance.
“The work they are doing is progressive and significant to the future of the energy sector, and they could play a significant role in the world’s transition to a lower carbon, more secure, smart, decentralised energy system.”
According to Dyesol’s executive chairman Mr Richard Caldwell, “To be included in the Bloomberg New Energy Finance New Energy Pioneers is a magnificent achievement for Dyesol. We are indeed proud and honoured to be recognised, as the world leader in our field,” he said.
In a world class performance, Dyesol also announced last week that the company has partnered with one of the world’s largest glass makers Pilkington North America to develop and commercialise glass with power generating capabilities.
Initially the collaboration will address the non-view glass market (spandrel) which accounts for 40 per cent of the total glass market.
The global market for flat glass is estimated to be 6 billion square metres in 2010 and growing at 5 per cent a year.
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.
Wednesday, 14 October 2009
Dyesol and Merck collaborate in dye solar cells
Dyesol Limited and Merck KGaA have signed an agreement to collaborate in the development of electrolytes for use in dye solar cells (DSC). This joint development agreement is the precursor to potential future commercial arrangements with Merck to manufacture existing and next generation electrolytes for application in DSC.
Merck is one of the world leaders in the development and production of ionic liquids which are key raw materials used in DSC electrolytes. Merck has patented intellectual property and vast know-how in the field of ionic liquids and is a leading supplier of materials for allied applications such as liquid crystal displays. Dyesol is the leading developer of DSC materials and solutions, having a broad portfolio covering DSC materials, product designs and manufacturing equipments.
The first phase of the collaboration involves the development of new electrolytes, optimisation of electrolytes for high performance, refinement of material specifications to assure ultra long life, and scale up for volume manufacture. Dyesol will contribute the results of the past 12 years of testing on over 400 different proprietary electrolytes that has resulted in DSC with proven stability of well over 25 years in European conditions.
Merck and Dyesol are, in parallel, discussing the terms for exploitation to ensure that Dyesol’s major corporate partners have secure lines of material supply and redundancy to underpin their investments in major DSC product manufacturing facilities, and that third parties worldwide have access to the best possible DSC electrolytes. As a result of this collaboration, both Dyesol and Merck will have the capacity and capability to manufacture DSC materials.
Dr Gavin Tulloch, Global Managing Director of Dyesol, said, “This collaboration arises from two years of planning and discussions. During this period, both Dyesol and Merck have recognised the great technical and commercial potential that collaboration can bring. Combining Merck’s capabilities as a major world force in chemical production and supply and the technology leader in ionic liquids, together with Dyesol, the leading DSC technology and industrialisation group, adds exceptional potential to the commercialisation of the unique photovoltaic technology.”
"Photovoltaic renewable energy sources are showing increasing potential worldwide. The cooperation with Dyesol, the world leader in the dye solar cell sector, offers us the opportunity to leverage valuable potential in this attractive market. In addition, Merck already holds an excellent position due to its experience in the electrolyte market," says Dr Emil Aust, Senior Manager of Ionic Liquids at Merck KGaA. "When used as the main components of DSC electrolytes, Merck's task-specific ionic liquids, partly patented, make it possible to use both solid and flexible DSCs, thus enabling outstanding new applications in the future."
For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283 4111 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 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 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 3rd generation solar technology from development into commercial production.
The Partner – MERCK KGaA
Merck is a global pharmaceutical and chemical company with total revenues of € 7.6 billion in 2008, a history that began in 1668, and a future shaped by approximately 33,000 employees in 60 countries. Its success is characterised by innovations from entrepreneurial employees. Merck's operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and free shareholders own the remaining approximately 30%. In 1917 the US subsidiary Merck & Co. was expropriated and has been an independent company ever since.
Merck is one of the world leaders in the development and production of ionic liquids which are key raw materials used in DSC electrolytes. Merck has patented intellectual property and vast know-how in the field of ionic liquids and is a leading supplier of materials for allied applications such as liquid crystal displays. Dyesol is the leading developer of DSC materials and solutions, having a broad portfolio covering DSC materials, product designs and manufacturing equipments.
The first phase of the collaboration involves the development of new electrolytes, optimisation of electrolytes for high performance, refinement of material specifications to assure ultra long life, and scale up for volume manufacture. Dyesol will contribute the results of the past 12 years of testing on over 400 different proprietary electrolytes that has resulted in DSC with proven stability of well over 25 years in European conditions.
Merck and Dyesol are, in parallel, discussing the terms for exploitation to ensure that Dyesol’s major corporate partners have secure lines of material supply and redundancy to underpin their investments in major DSC product manufacturing facilities, and that third parties worldwide have access to the best possible DSC electrolytes. As a result of this collaboration, both Dyesol and Merck will have the capacity and capability to manufacture DSC materials.
Dr Gavin Tulloch, Global Managing Director of Dyesol, said, “This collaboration arises from two years of planning and discussions. During this period, both Dyesol and Merck have recognised the great technical and commercial potential that collaboration can bring. Combining Merck’s capabilities as a major world force in chemical production and supply and the technology leader in ionic liquids, together with Dyesol, the leading DSC technology and industrialisation group, adds exceptional potential to the commercialisation of the unique photovoltaic technology.”
"Photovoltaic renewable energy sources are showing increasing potential worldwide. The cooperation with Dyesol, the world leader in the dye solar cell sector, offers us the opportunity to leverage valuable potential in this attractive market. In addition, Merck already holds an excellent position due to its experience in the electrolyte market," says Dr Emil Aust, Senior Manager of Ionic Liquids at Merck KGaA. "When used as the main components of DSC electrolytes, Merck's task-specific ionic liquids, partly patented, make it possible to use both solid and flexible DSCs, thus enabling outstanding new applications in the future."
For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283 4111 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 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 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 3rd generation solar technology from development into commercial production.
The Partner – MERCK KGaA
Merck is a global pharmaceutical and chemical company with total revenues of € 7.6 billion in 2008, a history that began in 1668, and a future shaped by approximately 33,000 employees in 60 countries. Its success is characterised by innovations from entrepreneurial employees. Merck's operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and free shareholders own the remaining approximately 30%. In 1917 the US subsidiary Merck & Co. was expropriated and has been an independent company ever since.
Monday, 21 September 2009
Dyesol Inc lining up for a wave of new energy investment
Welcome to the Dyesol newsletter. It has been some time since we published a newsletter in this form, providing something of a round up of recent activity. However as our projects and plans come to fruition, and the company grows, I believe that it is important that we maximise opportunities to tell our shareholders, the broader markets and the public about the full range of the activities, about some of the big milestones we are reaching and about some of the small steps taken.
Since the last newsletter there has been a flurry of activity – the 3rd Conference on the Industrialisation of Dye Solar Cells organised by Dyesol was held in Japan, several big announcements have been made and rapid progress has been achieved throughout all of our international joint ventures and partnerships.
In other exciting news, in recognition of the extraordinary development of DSC, its inventor Professor Michael Graetzel, our close scientific collaborator and Chairman of Dyesol's Technology Advisory Board, won the 2009 Balzan prize for work in the ‘Science of New Materials’ in Italy.
Dyesol Inc lining up for a wave of new energy investment in the USA
While the world has struggled under the heavy burden and sometimes chaotic fallout from a meltdown in US asset prices, a new energy era has quietly begun in America that created the perfect conditions required for Dyesol to formally incorporate a US subsidiary.
Barack Obama’s Presidency has been dominated by the financial crisis that he inherited, but it is the initiatives he has launched in energy that made it advantageous for Dyesol to establish a permanent presence in the USA.
With a declared target of producing at least 25% of the USA’s enormous electricity production from renewable sources by 2025, the Obama administration have already committed $60 billion to the green jobs and a clean energy economy through the ‘American Recovery and Reinvestment Act’. President Obama has further underwritten the American energy revolution with a promise of $150 billion in research and development funds for new energy technology over the next 10 years.
More than the substantial dollars however, it is the fundamental change in direction by the new President that could release the full entrepreneurial zeal and brilliance of the US economy onto the challenge of climate change, and the need to reduce fossil fuel dependency.
Marc Thomas has recently been appointed Chief Executive Officer of Dyesol’s North American subsidiary and his primary role is to develop strong business case for the future of the venture.
“This first step in entering the dynamic USA market has been carefully considered for some time,” said Sylvia Tulloch, Managing Director of Dyesol Industries. “We will be planning the resourcing and direction of our newest international subsidiary to ensure that Marc Thomas can pursue the opportunities arising from the Obama administration’s initiatives in support of the clean energy technology sector. What is beginning to happen in the USA should open significant opportunities for Dyesol.”
Dyesol investment in capacity leads the world
Commissioning of Dyesol’s materials manufacturing facilities in Queanbeyan, New South Wales, in October 2008 has proven to be timely, despite the financial crisis that has gripped the globe. Demand for DSC materials has experienced strong growth in the period since the facility was commissioned, and the production team have been committed to fill orders from companies and universities working on DSC projects.
Dyesol is one of the world’s only suppliers of the nano-chemistry, premium materials, laboratory and pilot production line systems required for DSC research and manufacturing. Since the new factory opened Dyesol has exported more than 90% of everything produced.
The solar photovoltaic market, forecast to be worth $US30 billion in 2008, is attracting many established industrial companies who want to be part of the market of renewable energy. For many corporations, DSC is seen as a potentially lower risk, and lower cost entry point into renewable energy products and Dyesol, with its portfolio of feedstocks, laboratory and pilot plant equipment, and technical consulting services, is becoming the first point of contact for many new entrants once the decision has been made to investigate third generation photovoltaics as a possible product line.
The recent receipt of an order for $AUD1 million worth of goods and services from a PETRONAS subsidiary is an example of the sort of interest that Dyesol is getting from global corporations. PETRONAS is a leading global oil and gas industry player based in Malaysia that has previously had little involvement in the solar energy sector.
The goods and services ordered from Dyesol comprise just a first step for a company of this scale, but is a step that would only have been taken once significant research and opportunity assessment had been done, including assessment of available suppliers of materials and know-how. Dyesol believes that this order is a huge endorsement of Dyesol’s capacity to support organisations with big plans for their future in renewable energy.
“The dyes and pastes that we produce in our new facilities are being used in research laboratories and the emerging DSC industry around the world,” said Dr Gavin Tulloch, Dyesol Managing Director Global. “Major corporations such as Sony are now developing DSC technology themselves, and are producing fascinating prototypes, and we are just one step away from the commercialisation of such products. The demand for DSC materials will of course grow exponentially once these products are released to the market”.
In addition to increasing its manufacturing capacity in Queanbeyan, Dyesol’s commercial partnerships are also rapidly moving towards commercialisation of DSC product that have the potential, on their own, to create very significant and long term demand for materials.
Dyesol has, over the past 12 months, established a facility in North Wales, United Kingdom to support the Dyesol/Corus collaboration. This project has been awarded a generous assistance package by the Welsh Assembly Government, to accelerate the commercialisation of DSC technology onto steel sheeting. Corus, a subsidiary of Tata Steel, is the world’s fifth largest steel producer.
Dyesol Italia srl is partnering with Italian energy company ERG Renew and with the world’s leading façade company, Permasteelisa to develop and commercialise next generation solar panels for buildings.
These activities that Dyesol is directly supporting are only the tip of the iceberg of the DSC research and commercialisation activity underway around the world and Dyesol’s state of the art manufacturing puts it in a strong position to be the leading global supplier of DSC materials, services and facilities.
Dyesol walks the walk
What would be the point of making renewable energy if the technology that made the energy was manufactured in an environmentally damaging way? The management and staff of Dyesol are serious about this question as they are collectively committed to ‘eco-logical’ action at every level of the enterprise. Dyesol regards returns to shareholders, ecology and social commitment as objectives of equal rank.
Dyesol already has a natural advantage to face the challenge of sustainability because DSC technology has the lowest embodied energy of any solar technology. Embodied energy is the total life cycle energy of a product, including costs of mining and refining of raw materials, energy of facilities and equipment, energy associated with manufacturing, energy associated with our staff and contractors and services, energy of transport, energy for marketing sales and administration, energy for product and facility maintenance, and energy for recycling of our products.
However, Dyesol takes the responsibility a step further and is driving down energy used in manufacturing with a ‘yield improvement’ programme in the manufacturing operations. This aims to ensure that higher quality, better performing materials, are manufactured at higher yields per unit of embodied energy.
In the process of designing and constructing the Company’s manufacturing facilities in Queanbeyan, New South Wales, Dyesol management investigated every cost effective measure to reduce the energy and water consumed on the premises.
As well as the expected steps of insulation and air-flow management, the air-conditioning systems use ozone friendly refrigerants, and the minimum outside air quantities required to refresh air quality and provide occupant safety. Electronic control systems provide the ability to regulate individual air conditioning systems to serve after hours operation independently.
Energy efficient T5 lighting with individual switching of local areas and time control operation of lighting has been installed, as well as time controls on under bench hot water units for point-of-use application, and pipe lagging to all supply lines, reduce heat waste in the water system.
Paper, brochures and other marketing materials are recyclable. Staff are required to utilise the paper, glass and plastics recycling bins provided.
Dyesol takes sustainability seriously, it is not just for appearances. The Company also takes its role as a new energy economy leader seriously, and intends to stay in the top ranks of the global indices that track performance of clean energy companies.
Since March 2008 the Company has been included in the Australian CleanTech Index© and Dyesol is in the top 20 out of over 60 companies in this index. In 2008 the Company was included in the “Top 100 Low Carbon Pioneers” of CNBC Europe. And in 2008 Dyesol received a Prime Rating from OEKOM Research, Munich, Germany. Dyesol is very proud about these acknowledgements of our credentials. These achievements encourages us to intensify our efforts to become more strongly ecologically beneficial, not just neutral.
Korea Enters the Organic Photovoltaic Age
The opening of the Dyesol-Timo pilot production plant in Seong Nam, South Korea on 13th July 2009, could be said to be the symbolic beginning of a new era for that extraordinarily industrious country. The opening ceremony, involving Korean officials, politicians and business people, who were joined by the Australian Ambassador to Korea, Mr Sam Gerovich, were imbued with some gravitas, and a sense that something exceptional was occurring.
In just 10 months the Dyesol-Timo JV team constructed and commissioned a world class pilot plant which has the potential to lead South Korea into the forefront of DSC commercialisation. In the course of the project planning, and the development of the facility, Dyesol scientists were also fully engaged in transferring the knowledge needed to successfully operate the facility to the Timo DSC team lead by Professor Moon.
Dr Gavin Tulloch, Managing Director Global, was there on the day to speak for Dyesol, and took the opportunity to remind the guests about the unique virtues of DSC that means that it really cannot be compared to other conventional photovoltaic technologies.
“Dye solar cell technology exists totally independent of all other types of photovoltaics – it emulates part of the photosynthesis process. It builds on millions of years of natural evolution of low energy processes – processes that utilise minimum energy to produce electrons,” Dr Tulloch said.
“Consider how a leaf functions in photosynthesis. It works in all light levels. It does not have to face directly at the sun for photosynthesis to occur. It operates in shade. It has low embodied energy and is very energy efficient. Most importantly,” Dr Tulloch pointed out, “this means that the voltage created in the leaf structure is virtually independent of light level for all orientations – and this is true for DSC also. Our challenge has been to match nature and it has been essential to understand the fine electrochemical balance and to select materials that, when combined, provide exceptional stability and hence very long lifetimes of up to 50 years.”
Having emulated photosynthesis in the lab, the next challenge for Dyesol’s scientists was to create processes that enable the basic building blocks of a dye solar cell to be mass produced. The pilot production line constructed for the Dyesol-Timo joint venture is based on a series of proprietary process, assembly and test equipment developed and commercialised by Dyesol to do just that, mass produce DSC.
The potential for DSC in the South Korean industrial economy cannot be understated. Glass-based DSC products would be very well suited to South Korea, where the solar conditions, dense urban cityscapes and rapid adoption of new technology provides an ideal environment for a number of DSC products.
South Korea is one of the fastest growing solar markets in the world and is forecast to remain so. The Korean Government has established a positive policy platform for clean technology development and recently announced plans to invest an astounding 2% of GDP worth 107 trillion won per annum (US$84.5 billion) in environment-related industries over the coming five years.
Dyesol will continue to actively support the venture, including providing access to the extensive IP holdings of the company, new innovations and developments, and supplying high performance cost competitive DSC materials and equipment.
Since the last newsletter there has been a flurry of activity – the 3rd Conference on the Industrialisation of Dye Solar Cells organised by Dyesol was held in Japan, several big announcements have been made and rapid progress has been achieved throughout all of our international joint ventures and partnerships.
In other exciting news, in recognition of the extraordinary development of DSC, its inventor Professor Michael Graetzel, our close scientific collaborator and Chairman of Dyesol's Technology Advisory Board, won the 2009 Balzan prize for work in the ‘Science of New Materials’ in Italy.
Dyesol Inc lining up for a wave of new energy investment in the USA
While the world has struggled under the heavy burden and sometimes chaotic fallout from a meltdown in US asset prices, a new energy era has quietly begun in America that created the perfect conditions required for Dyesol to formally incorporate a US subsidiary.
Barack Obama’s Presidency has been dominated by the financial crisis that he inherited, but it is the initiatives he has launched in energy that made it advantageous for Dyesol to establish a permanent presence in the USA.
With a declared target of producing at least 25% of the USA’s enormous electricity production from renewable sources by 2025, the Obama administration have already committed $60 billion to the green jobs and a clean energy economy through the ‘American Recovery and Reinvestment Act’. President Obama has further underwritten the American energy revolution with a promise of $150 billion in research and development funds for new energy technology over the next 10 years.
More than the substantial dollars however, it is the fundamental change in direction by the new President that could release the full entrepreneurial zeal and brilliance of the US economy onto the challenge of climate change, and the need to reduce fossil fuel dependency.
Marc Thomas has recently been appointed Chief Executive Officer of Dyesol’s North American subsidiary and his primary role is to develop strong business case for the future of the venture.
“This first step in entering the dynamic USA market has been carefully considered for some time,” said Sylvia Tulloch, Managing Director of Dyesol Industries. “We will be planning the resourcing and direction of our newest international subsidiary to ensure that Marc Thomas can pursue the opportunities arising from the Obama administration’s initiatives in support of the clean energy technology sector. What is beginning to happen in the USA should open significant opportunities for Dyesol.”
Dyesol investment in capacity leads the world
Commissioning of Dyesol’s materials manufacturing facilities in Queanbeyan, New South Wales, in October 2008 has proven to be timely, despite the financial crisis that has gripped the globe. Demand for DSC materials has experienced strong growth in the period since the facility was commissioned, and the production team have been committed to fill orders from companies and universities working on DSC projects.
Dyesol is one of the world’s only suppliers of the nano-chemistry, premium materials, laboratory and pilot production line systems required for DSC research and manufacturing. Since the new factory opened Dyesol has exported more than 90% of everything produced.
The solar photovoltaic market, forecast to be worth $US30 billion in 2008, is attracting many established industrial companies who want to be part of the market of renewable energy. For many corporations, DSC is seen as a potentially lower risk, and lower cost entry point into renewable energy products and Dyesol, with its portfolio of feedstocks, laboratory and pilot plant equipment, and technical consulting services, is becoming the first point of contact for many new entrants once the decision has been made to investigate third generation photovoltaics as a possible product line.
The recent receipt of an order for $AUD1 million worth of goods and services from a PETRONAS subsidiary is an example of the sort of interest that Dyesol is getting from global corporations. PETRONAS is a leading global oil and gas industry player based in Malaysia that has previously had little involvement in the solar energy sector.
The goods and services ordered from Dyesol comprise just a first step for a company of this scale, but is a step that would only have been taken once significant research and opportunity assessment had been done, including assessment of available suppliers of materials and know-how. Dyesol believes that this order is a huge endorsement of Dyesol’s capacity to support organisations with big plans for their future in renewable energy.
“The dyes and pastes that we produce in our new facilities are being used in research laboratories and the emerging DSC industry around the world,” said Dr Gavin Tulloch, Dyesol Managing Director Global. “Major corporations such as Sony are now developing DSC technology themselves, and are producing fascinating prototypes, and we are just one step away from the commercialisation of such products. The demand for DSC materials will of course grow exponentially once these products are released to the market”.
In addition to increasing its manufacturing capacity in Queanbeyan, Dyesol’s commercial partnerships are also rapidly moving towards commercialisation of DSC product that have the potential, on their own, to create very significant and long term demand for materials.
Dyesol has, over the past 12 months, established a facility in North Wales, United Kingdom to support the Dyesol/Corus collaboration. This project has been awarded a generous assistance package by the Welsh Assembly Government, to accelerate the commercialisation of DSC technology onto steel sheeting. Corus, a subsidiary of Tata Steel, is the world’s fifth largest steel producer.
Dyesol Italia srl is partnering with Italian energy company ERG Renew and with the world’s leading façade company, Permasteelisa to develop and commercialise next generation solar panels for buildings.
These activities that Dyesol is directly supporting are only the tip of the iceberg of the DSC research and commercialisation activity underway around the world and Dyesol’s state of the art manufacturing puts it in a strong position to be the leading global supplier of DSC materials, services and facilities.
Dyesol walks the walk
What would be the point of making renewable energy if the technology that made the energy was manufactured in an environmentally damaging way? The management and staff of Dyesol are serious about this question as they are collectively committed to ‘eco-logical’ action at every level of the enterprise. Dyesol regards returns to shareholders, ecology and social commitment as objectives of equal rank.
Dyesol already has a natural advantage to face the challenge of sustainability because DSC technology has the lowest embodied energy of any solar technology. Embodied energy is the total life cycle energy of a product, including costs of mining and refining of raw materials, energy of facilities and equipment, energy associated with manufacturing, energy associated with our staff and contractors and services, energy of transport, energy for marketing sales and administration, energy for product and facility maintenance, and energy for recycling of our products.
However, Dyesol takes the responsibility a step further and is driving down energy used in manufacturing with a ‘yield improvement’ programme in the manufacturing operations. This aims to ensure that higher quality, better performing materials, are manufactured at higher yields per unit of embodied energy.
In the process of designing and constructing the Company’s manufacturing facilities in Queanbeyan, New South Wales, Dyesol management investigated every cost effective measure to reduce the energy and water consumed on the premises.
As well as the expected steps of insulation and air-flow management, the air-conditioning systems use ozone friendly refrigerants, and the minimum outside air quantities required to refresh air quality and provide occupant safety. Electronic control systems provide the ability to regulate individual air conditioning systems to serve after hours operation independently.
Energy efficient T5 lighting with individual switching of local areas and time control operation of lighting has been installed, as well as time controls on under bench hot water units for point-of-use application, and pipe lagging to all supply lines, reduce heat waste in the water system.
Paper, brochures and other marketing materials are recyclable. Staff are required to utilise the paper, glass and plastics recycling bins provided.
Dyesol takes sustainability seriously, it is not just for appearances. The Company also takes its role as a new energy economy leader seriously, and intends to stay in the top ranks of the global indices that track performance of clean energy companies.
Since March 2008 the Company has been included in the Australian CleanTech Index© and Dyesol is in the top 20 out of over 60 companies in this index. In 2008 the Company was included in the “Top 100 Low Carbon Pioneers” of CNBC Europe. And in 2008 Dyesol received a Prime Rating from OEKOM Research, Munich, Germany. Dyesol is very proud about these acknowledgements of our credentials. These achievements encourages us to intensify our efforts to become more strongly ecologically beneficial, not just neutral.
Korea Enters the Organic Photovoltaic Age
The opening of the Dyesol-Timo pilot production plant in Seong Nam, South Korea on 13th July 2009, could be said to be the symbolic beginning of a new era for that extraordinarily industrious country. The opening ceremony, involving Korean officials, politicians and business people, who were joined by the Australian Ambassador to Korea, Mr Sam Gerovich, were imbued with some gravitas, and a sense that something exceptional was occurring.
In just 10 months the Dyesol-Timo JV team constructed and commissioned a world class pilot plant which has the potential to lead South Korea into the forefront of DSC commercialisation. In the course of the project planning, and the development of the facility, Dyesol scientists were also fully engaged in transferring the knowledge needed to successfully operate the facility to the Timo DSC team lead by Professor Moon.
Dr Gavin Tulloch, Managing Director Global, was there on the day to speak for Dyesol, and took the opportunity to remind the guests about the unique virtues of DSC that means that it really cannot be compared to other conventional photovoltaic technologies.
“Dye solar cell technology exists totally independent of all other types of photovoltaics – it emulates part of the photosynthesis process. It builds on millions of years of natural evolution of low energy processes – processes that utilise minimum energy to produce electrons,” Dr Tulloch said.
“Consider how a leaf functions in photosynthesis. It works in all light levels. It does not have to face directly at the sun for photosynthesis to occur. It operates in shade. It has low embodied energy and is very energy efficient. Most importantly,” Dr Tulloch pointed out, “this means that the voltage created in the leaf structure is virtually independent of light level for all orientations – and this is true for DSC also. Our challenge has been to match nature and it has been essential to understand the fine electrochemical balance and to select materials that, when combined, provide exceptional stability and hence very long lifetimes of up to 50 years.”
Having emulated photosynthesis in the lab, the next challenge for Dyesol’s scientists was to create processes that enable the basic building blocks of a dye solar cell to be mass produced. The pilot production line constructed for the Dyesol-Timo joint venture is based on a series of proprietary process, assembly and test equipment developed and commercialised by Dyesol to do just that, mass produce DSC.
The potential for DSC in the South Korean industrial economy cannot be understated. Glass-based DSC products would be very well suited to South Korea, where the solar conditions, dense urban cityscapes and rapid adoption of new technology provides an ideal environment for a number of DSC products.
South Korea is one of the fastest growing solar markets in the world and is forecast to remain so. The Korean Government has established a positive policy platform for clean technology development and recently announced plans to invest an astounding 2% of GDP worth 107 trillion won per annum (US$84.5 billion) in environment-related industries over the coming five years.
Dyesol will continue to actively support the venture, including providing access to the extensive IP holdings of the company, new innovations and developments, and supplying high performance cost competitive DSC materials and equipment.
Sunday, 21 June 2009
Substantial Order Received from Global 500® Company by DYESOL
Dyesol has received an order in excess of A$1 million for the supply of DSC goods and services from a 100% subsidiary of PETRONAS, a FORTUNE Global 500® company.
A further, more detailed announcement describing the size and nature of the proposed project will be made in due course.
A further, more detailed announcement describing the size and nature of the proposed project will be made in due course.
Tuesday, 5 May 2009
Opportunities for Dyesol in Low Carbon Society
KEY POINTS
Dyesol Limited was invited as a delegate to the recent G8 Environment Ministers meetings in Italy
International Energy Agency (IEA) identified that the built environment utilises over 40% of all global energy
World Bank stated that an Energy Revolution is needed to arrest climate change
IEA stated that the two preferred technical approaches to arresting growth of carbon intensity are energy efficiency and renewable energy
Dyesol DSC technology was presented as the opportunity to combine energy efficiency and renewable energy in building products
During April the G8 Environment Ministers have met in Siracusa in Italy to consider initiatives for protecting the environment including moves to create a low carbon society through reducing growth of carbon dioxide concentration in the atmosphere. Dyesol was invited to represent Australian industry and 3rd generation solar at the High Level Forum in Trieste from 2-4 April and at the industry session in Siracusa on 22 April. Dyesol was represented by Dr Gavin Tulloch, Managing Director Global.
As a panellist in Trieste and a delegate in Siracusa, Dr Tulloch had the opportunity to present the advantages of DSC technology in ameliorating global climate change as well as presenting Dyesol to the world forum. Other companies invited to Siracusa included GE, Westinghouse, Mitsubishi, ENEL, Areva, ERG, Shell, Edison, BMW, Tata, while leading first generation solar company, Sharp, and second generation solar leader, First Solar, were panellists with Dyesol in Trieste.
The meetings considered and commented on two key papers by IEA (‘Ensuring Green Growth in a Time of Economic Crisis: The Role of Energy Technology’) and World Bank (‘Financing Technology to support low-carbon and climate resilient growth’).
The emphasis of the claims and recommendations of these authoritative papers are:
Well over $200B must be invested per annum to ensure that atmospheric carbon concentration does not rise significantly above 550ppm by 2020.
The effects of climate change would be far more serious to the world economy than the current global financial crisis if unaddressed.
Current energy solutions are inadequate to the task and an ‘Energy Revolution’ is essential.
Major energy users include the built environment (>40% of global energy use) and transport (~16%).
In the next ten years the preferred methods for reducing carbon intensity are energy efficiency and renewable energy.
Developing nations will have to play an increasing role in technology led reduction of carbon intensity.
Governments must increase investment in R&D, Demonstration and Deployment to seed the introduction of new low carbon technologies at the pre-commercial stage.
Public/Private partnerships are a preferred means for government investment both in developed and developing countries.
During presentations and discussions, Dr Tulloch provided the following information about Dyesol’s DSC technology and products:
The credible means to address energy intensity in the built environment are energy efficiency and solar power.
DSC steel-based panels and glass façade panels incorporate energy efficiency as an inherent feature of the product design.
DSC building products not only produce energy at the point of use but also save substantial energy and additional capital cost through avoiding distribution.
Regulation, using a model similar to that enforced for cigarette smoking, can create a common approach by different jurisdictions to energy management in the built environment.
Dyesol’s model of public/private partnerships, as evidenced, for example, by the partnership with Corus (Tata) and the Welsh Assembly Government is a very good model that assures access to technology and markets.
DSC technology has very low embodied energy compared to other sources of renewable energy, so implementation of DSC is a low carbon intensity commercially viable activity.
DSC technology has a low cost of implementation and can be modular so is affordable for developing countries as well as developed countries in which Dyesol operates.
Dyesol’s model for licensing/partnerships can provide manufacturing technology and hence economic growth to developing countries while maintaining materials technology under Dyesol’s control.
Dyesol’s DSC technology is directed to achieving grid parity for built environment products through combining energy efficiency with point of use renewable energy.
For further information contact Gavin Tulloch on +61 (0) 2 6299 1592.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177 6058804
Note to editors
The Technology – DYE SOLAR CELLS
Dyesol Limited was invited as a delegate to the recent G8 Environment Ministers meetings in Italy
International Energy Agency (IEA) identified that the built environment utilises over 40% of all global energy
World Bank stated that an Energy Revolution is needed to arrest climate change
IEA stated that the two preferred technical approaches to arresting growth of carbon intensity are energy efficiency and renewable energy
Dyesol DSC technology was presented as the opportunity to combine energy efficiency and renewable energy in building products
During April the G8 Environment Ministers have met in Siracusa in Italy to consider initiatives for protecting the environment including moves to create a low carbon society through reducing growth of carbon dioxide concentration in the atmosphere. Dyesol was invited to represent Australian industry and 3rd generation solar at the High Level Forum in Trieste from 2-4 April and at the industry session in Siracusa on 22 April. Dyesol was represented by Dr Gavin Tulloch, Managing Director Global.
As a panellist in Trieste and a delegate in Siracusa, Dr Tulloch had the opportunity to present the advantages of DSC technology in ameliorating global climate change as well as presenting Dyesol to the world forum. Other companies invited to Siracusa included GE, Westinghouse, Mitsubishi, ENEL, Areva, ERG, Shell, Edison, BMW, Tata, while leading first generation solar company, Sharp, and second generation solar leader, First Solar, were panellists with Dyesol in Trieste.
The meetings considered and commented on two key papers by IEA (‘Ensuring Green Growth in a Time of Economic Crisis: The Role of Energy Technology’) and World Bank (‘Financing Technology to support low-carbon and climate resilient growth’).
The emphasis of the claims and recommendations of these authoritative papers are:
Well over $200B must be invested per annum to ensure that atmospheric carbon concentration does not rise significantly above 550ppm by 2020.
The effects of climate change would be far more serious to the world economy than the current global financial crisis if unaddressed.
Current energy solutions are inadequate to the task and an ‘Energy Revolution’ is essential.
Major energy users include the built environment (>40% of global energy use) and transport (~16%).
In the next ten years the preferred methods for reducing carbon intensity are energy efficiency and renewable energy.
Developing nations will have to play an increasing role in technology led reduction of carbon intensity.
Governments must increase investment in R&D, Demonstration and Deployment to seed the introduction of new low carbon technologies at the pre-commercial stage.
Public/Private partnerships are a preferred means for government investment both in developed and developing countries.
During presentations and discussions, Dr Tulloch provided the following information about Dyesol’s DSC technology and products:
The credible means to address energy intensity in the built environment are energy efficiency and solar power.
DSC steel-based panels and glass façade panels incorporate energy efficiency as an inherent feature of the product design.
DSC building products not only produce energy at the point of use but also save substantial energy and additional capital cost through avoiding distribution.
Regulation, using a model similar to that enforced for cigarette smoking, can create a common approach by different jurisdictions to energy management in the built environment.
Dyesol’s model of public/private partnerships, as evidenced, for example, by the partnership with Corus (Tata) and the Welsh Assembly Government is a very good model that assures access to technology and markets.
DSC technology has very low embodied energy compared to other sources of renewable energy, so implementation of DSC is a low carbon intensity commercially viable activity.
DSC technology has a low cost of implementation and can be modular so is affordable for developing countries as well as developed countries in which Dyesol operates.
Dyesol’s model for licensing/partnerships can provide manufacturing technology and hence economic growth to developing countries while maintaining materials technology under Dyesol’s control.
Dyesol’s DSC technology is directed to achieving grid parity for built environment products through combining energy efficiency with point of use renewable energy.
For further information contact Gavin Tulloch on +61 (0) 2 6299 1592.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177 6058804
Note to editors
The Technology – DYE SOLAR CELLS
Tuesday, 28 April 2009
Dyesol Commentary and Update – 3rd Quarter 2009
Highlights
Retains strong cash position – over $6.1 Million cash on hand
Burn rate drops by 24%
Revenue growth of over 70% re FY 2008
Cash inflows maintained
Operational expenditure prioritised to projects
Low capital expenditure
Solid order book for 4th Quarter and beyond
No debt
Now, three quarters through FY 2009, a year in which nearly all industrial companies have suffered a drastic drop in revenue and substantial reduction of cash, Dyesol continues to achieve revenue growth, with income at the end of the 3rd Quarter being 70% greater than that achieved for the whole FY2008. Meanwhile the company has substantially reduced cash burn rate while maintaining excellent progress on all projects. By the key measure of operational cash burn, Dyesol has reduced its expenditure by nearly $1M in the quarter, a reduction of 24% in burn. During the quarter, the company met another key milestone in our partnership project with Corus and announced the first stage commitments from projects in Korea and Turkey – moving the company closer to full commercialisation. Last week, at the Dyesol sponsored conference in Nara, Japan, attended by a record 250 delegates, Dyesol announced the achievement of over 12% efficiency for an industrial size tandem cell – demonstrating that the company is also expanding and strengthening its IP portfolio.
At the end of the quarter Dyesol has $6.137M at bank and continues to have no debt. The monthly burn rate for the quarter averaged $560K indicating that cash reserves are close to one year of operations. The employment levels at Dyesol are now steady as we have completed expansion of the team in the UK to meet the accelerated project schedule. Further business expansion in other jurisdictions will depend on additional funds being secured from partners, government or investors.
In investment activities, as announced in the previous quarter, Dyesol has continued to reduce expenditure on capital equipment as nearly all requirements for current projects have been committed.
Dyesol still holds all its cash as current deposits in top trading banks in Australia (CBA and Westpac/St George), UK (HSBC), Switzerland (Raiffeisen), Singapore (HSBC) and Italy (BPM).
During the quarter the company also confirmed supplier collaborations in Europe and commenced evaluation of outsourcing of equipment manufacture to specialist international equipment engineers, in order to reduce the need for further capital expansion.
The fourth quarter will bring further operating cash inflows from sales of services and equipment in Asia and Europe, growing materials sales and substantial grant payments in UK. Operational and investment cash flows are forecast to remain steady.
Dyesol enters the final quarter of FY2009 confident that the company will continue to grow through the current financial crisis and will be well placed to serve what the IEA and World Bank refer to as the Energy Revolution that could dominate industrial growth for the coming decades. Dyesol is well placed to address the worlds largest energy demand, the built environment due to the fact that our technology and products can operate in any light conditions and at any angle to the sun – a Unique Selling Proposition USP for Dyesol’s Dye Solar Cells.
Retains strong cash position – over $6.1 Million cash on hand
Burn rate drops by 24%
Revenue growth of over 70% re FY 2008
Cash inflows maintained
Operational expenditure prioritised to projects
Low capital expenditure
Solid order book for 4th Quarter and beyond
No debt
Now, three quarters through FY 2009, a year in which nearly all industrial companies have suffered a drastic drop in revenue and substantial reduction of cash, Dyesol continues to achieve revenue growth, with income at the end of the 3rd Quarter being 70% greater than that achieved for the whole FY2008. Meanwhile the company has substantially reduced cash burn rate while maintaining excellent progress on all projects. By the key measure of operational cash burn, Dyesol has reduced its expenditure by nearly $1M in the quarter, a reduction of 24% in burn. During the quarter, the company met another key milestone in our partnership project with Corus and announced the first stage commitments from projects in Korea and Turkey – moving the company closer to full commercialisation. Last week, at the Dyesol sponsored conference in Nara, Japan, attended by a record 250 delegates, Dyesol announced the achievement of over 12% efficiency for an industrial size tandem cell – demonstrating that the company is also expanding and strengthening its IP portfolio.
At the end of the quarter Dyesol has $6.137M at bank and continues to have no debt. The monthly burn rate for the quarter averaged $560K indicating that cash reserves are close to one year of operations. The employment levels at Dyesol are now steady as we have completed expansion of the team in the UK to meet the accelerated project schedule. Further business expansion in other jurisdictions will depend on additional funds being secured from partners, government or investors.
In investment activities, as announced in the previous quarter, Dyesol has continued to reduce expenditure on capital equipment as nearly all requirements for current projects have been committed.
Dyesol still holds all its cash as current deposits in top trading banks in Australia (CBA and Westpac/St George), UK (HSBC), Switzerland (Raiffeisen), Singapore (HSBC) and Italy (BPM).
During the quarter the company also confirmed supplier collaborations in Europe and commenced evaluation of outsourcing of equipment manufacture to specialist international equipment engineers, in order to reduce the need for further capital expansion.
The fourth quarter will bring further operating cash inflows from sales of services and equipment in Asia and Europe, growing materials sales and substantial grant payments in UK. Operational and investment cash flows are forecast to remain steady.
Dyesol enters the final quarter of FY2009 confident that the company will continue to grow through the current financial crisis and will be well placed to serve what the IEA and World Bank refer to as the Energy Revolution that could dominate industrial growth for the coming decades. Dyesol is well placed to address the worlds largest energy demand, the built environment due to the fact that our technology and products can operate in any light conditions and at any angle to the sun – a Unique Selling Proposition USP for Dyesol’s Dye Solar Cells.
Thursday, 16 April 2009
Turkey positions for large-scale DSC manufacture
Dyesol has been engaged by Nesli Dye Solar Cells Enerji Sistemleri Sanayi Ve Ticaret Anonim Sirketi (Nesli) to complete a detailed feasibility study establishing a glass-based DSC volume manufacturing facility in Turkey. Nesli has secured a line of funding for a phased development program, with initial capacity growing in discrete stages to 100,000m2 before expanding to a 500,000m2 manufacturing capability in the subsequent stage. Nesli is supported in the commercialisation by the Turkish Development Bank (Turkiye Kalkinma Bankasi – TKB).
The Contract for Supply with Nesli for this initial phase is valued at €200,000 (approx. AU$400,000) and is part of a potential €60 Million program involving Dyesol providing on-going technical support, production equipment and DSC manufacturing materials. This ensures a long-term strategic relationship between the two companies, continuing demand for Dyesol materials and a defined growth path for the technology.
Gordon Thompson, Dyesol Director, says “The feasibility study provides the launching pad for a long-term strategic relationship which will be a win-win situation for both Nesli and Dyesol in seeding and growing the DSC market in Turkey”. Unal Kazak, Director of Nesli, agrees “The decision to engage the world leaders in the commercialisation of DSC to undertake this study and be our long term partners in a secure relationship is essential to achieve growth targets”.
The advantage of Dyesol’s DSC technology over conventional photovoltaic technology is its lower facility cost, lower energy for manufacture, proportionally higher output of electricity in ambient light conditions, and the ability to directly incorporate it into buildings as passive electricity generators – multifunctional building panels. This is known as BIPV or building integrated photovoltaics.
The Contract for Supply with Nesli for this initial phase is valued at €200,000 (approx. AU$400,000) and is part of a potential €60 Million program involving Dyesol providing on-going technical support, production equipment and DSC manufacturing materials. This ensures a long-term strategic relationship between the two companies, continuing demand for Dyesol materials and a defined growth path for the technology.
Gordon Thompson, Dyesol Director, says “The feasibility study provides the launching pad for a long-term strategic relationship which will be a win-win situation for both Nesli and Dyesol in seeding and growing the DSC market in Turkey”. Unal Kazak, Director of Nesli, agrees “The decision to engage the world leaders in the commercialisation of DSC to undertake this study and be our long term partners in a secure relationship is essential to achieve growth targets”.
The advantage of Dyesol’s DSC technology over conventional photovoltaic technology is its lower facility cost, lower energy for manufacture, proportionally higher output of electricity in ambient light conditions, and the ability to directly incorporate it into buildings as passive electricity generators – multifunctional building panels. This is known as BIPV or building integrated photovoltaics.
Global experts meet in Japan to advance industrialisation of Dye Solar Cells
Sydney, 16 April 2009 – For the first time since its inception in Australia in 2006, the International Conference on the Industrialisation of Dye Solar Cells (DSC-IC 2009) will be held in Asia this year, in Nara, Japan, from April 22 to 24. This is the third International Conference on the Industrialisation of DSC, building on the success of previous DSC-IC conferences in St Gallen, Switzerland and Canberra, Australia.
The strength and growth of the photovoltaic industry in Japan, together with the advancements in Dye Solar Cell (DSC) technology and research within the East Asia region, make this venue the ideal place to bring together leading scientists, technologists and industrialists from the field of DSC.
Following the official opening by Nara Governor Arai, joint conference chairpersons, Professor Shozo Yanagida and Professor Tsutomu Miyasaka, will be joined by over 250 participants, including top academic, institutional, government and industry experts in DSC technology.
Leading experts from around the world spearheading the commercialisation of DSC technology, including Professor Michael Graetzel, Professor Anders Hagfeldt, Professor Laurence Peter, Professor Hironori Arakawa and Dyesol’s Dr Gavin Tulloch and Dr Hans Desilvestro, are just a few of the long list of impressive speakers confirmed for the conference next week.
More than ever, the pace of DSC commercialisation is being dictated by urgent global economic and environmental drivers. As recently as the April G20 meeting in London, governments have demonstrated their commitment to meeting the challenges of global warming through promises of new legislation and policy, thus creating significant new opportunities for DSC technologies. DSC technology is the most advanced of the third generation technologies and promises solutions where other technologies cannot deliver. G8 Environment Ministers meet in Sicily next week to determine how to accelerate the reduction of the worldwide carbon footprint through energy efficiency and low energy renewables such as DSC. .
The advantages of DSC over conventional silicon-based photovoltaic technology are its lower cost, lower embodied energy for both the manufacturing plant and production, greater output of electricity in ambient and low light conditions, and the ability to be directly incorporated into buildings as active electricity generating glass facades and steel roofs – building products that combine energy generation with energy efficiency.
The global solar photovoltaic market was valued at almost US $30 billion in 2008 and is forecast to reach US$100 billion in revenues by 2013.
Dyesol Limited is pleased to be the lead sponsor of the conference.
For further information contact Catherine Gleeson on +61 (0)2 6299 1592.
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 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
More detail about the company and the technology can be found at: http://www.dyesol.com
More detail about the conference can be found at: http://www.dsc-ic.com
The strength and growth of the photovoltaic industry in Japan, together with the advancements in Dye Solar Cell (DSC) technology and research within the East Asia region, make this venue the ideal place to bring together leading scientists, technologists and industrialists from the field of DSC.
Following the official opening by Nara Governor Arai, joint conference chairpersons, Professor Shozo Yanagida and Professor Tsutomu Miyasaka, will be joined by over 250 participants, including top academic, institutional, government and industry experts in DSC technology.
Leading experts from around the world spearheading the commercialisation of DSC technology, including Professor Michael Graetzel, Professor Anders Hagfeldt, Professor Laurence Peter, Professor Hironori Arakawa and Dyesol’s Dr Gavin Tulloch and Dr Hans Desilvestro, are just a few of the long list of impressive speakers confirmed for the conference next week.
More than ever, the pace of DSC commercialisation is being dictated by urgent global economic and environmental drivers. As recently as the April G20 meeting in London, governments have demonstrated their commitment to meeting the challenges of global warming through promises of new legislation and policy, thus creating significant new opportunities for DSC technologies. DSC technology is the most advanced of the third generation technologies and promises solutions where other technologies cannot deliver. G8 Environment Ministers meet in Sicily next week to determine how to accelerate the reduction of the worldwide carbon footprint through energy efficiency and low energy renewables such as DSC. .
The advantages of DSC over conventional silicon-based photovoltaic technology are its lower cost, lower embodied energy for both the manufacturing plant and production, greater output of electricity in ambient and low light conditions, and the ability to be directly incorporated into buildings as active electricity generating glass facades and steel roofs – building products that combine energy generation with energy efficiency.
The global solar photovoltaic market was valued at almost US $30 billion in 2008 and is forecast to reach US$100 billion in revenues by 2013.
Dyesol Limited is pleased to be the lead sponsor of the conference.
For further information contact Catherine Gleeson on +61 (0)2 6299 1592.
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 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
More detail about the company and the technology can be found at: http://www.dyesol.com
More detail about the conference can be found at: http://www.dsc-ic.com
Thursday, 12 March 2009
Progrees at Dye-Timo
Manufacture of the remaining equipment for the pilot plant for Dyesol-Timo, the Korean joint venture between Dyesol Limited and Timo Technology Co., Ltd, is underway in the Australian factory of Dyesol Limited. Confirmed funding for the equipment comes from the JV and the order exceeds A$500,000 for the supply of equipment and associated services. Dyesol will assist in the commissioning of the total prototype production facility on delivery of this equipment. In addition to the equipment expansion, support provided by the Korean Government allows the addition of seven new technical staff to the team.
This is an important step for Dyesol-Timo, and will accelerate the completion of the product development phase. The additional equipment supplements the existing facilities of Dyesol-Timo, allowing sufficient production capability to finalise product and line design and move the technology towards volume manufacture. Products from the pilot line will be used for test bedding, and evaluation for selected applications. The pilot line will provide the basis for a future larger scale manufacturing facility for selected products resulting from the current development phase.
Renewable energy is an important component of the Technology Development Programme under the auspices of the Ministry of Knowledge Economy of the Korean Government. This progressive step in Korea is an indication of the demand that exists recognising DSC technology as an increasingly important contributor to the solar photovoltaic industry. Continuing research and development by Dyesol in Australia, and with partners in Europe and Asia, cements the Dyesol Group as a leader in the field of DSC technology.
This is an important step for Dyesol-Timo, and will accelerate the completion of the product development phase. The additional equipment supplements the existing facilities of Dyesol-Timo, allowing sufficient production capability to finalise product and line design and move the technology towards volume manufacture. Products from the pilot line will be used for test bedding, and evaluation for selected applications. The pilot line will provide the basis for a future larger scale manufacturing facility for selected products resulting from the current development phase.
Renewable energy is an important component of the Technology Development Programme under the auspices of the Ministry of Knowledge Economy of the Korean Government. This progressive step in Korea is an indication of the demand that exists recognising DSC technology as an increasingly important contributor to the solar photovoltaic industry. Continuing research and development by Dyesol in Australia, and with partners in Europe and Asia, cements the Dyesol Group as a leader in the field of DSC technology.
Wednesday, 31 December 2008
Dyesol and Corus Accelerate Solar Cell Commercialisation
Building Integrated
At a time when virtually all of the construction and solar cell industry is experiencing a significant slowing of activity and short term demand and profitability declines are the norm, the Corus/Dyesol partnership has announced that the project to bring dye solar cells (DSC) onto metal roofing is being accelerated. The decision to accelerate the project was made on the basis of anticipated demand growing dramatically from 2010 and the success of the program to date, wherein the achievement of product milestones is well ahead of schedule.
Dyesol and Corus will commit more technical and production engineering staff to the project, and initiate real life product testing by mid 2009. The commercialization path will be shortened to eliminate one stage of the manufacturing assurance phase. This will mean that product will become available from the first production line in 2010 for selected customers.
The acceleration of the current phase is being financed predominantly by bringing forward planned commitments. Details of plans for the earlier commitment of production facilities from 2010 will be released over the coming months.
The dye solar cell integrated into steel roofing promises to be the first solar cell technology that can be grid competitive in the normal light conditions experienced in most cities around the world. The advantages of dye solar cells derive from the similarity with photosynthesis. Consequently, dye solar cells exhibit operating voltage stability across the normal daily solar conditions, including cloudy and hazy conditions. DSC is also less susceptible to hot conditions than other solar technologies – and it comes in a variety of natural colours. The technology has been demonstrated by Dyesol through accelerated testing to have an operating lifetime well in excess of the 25 years needed for BIPV applications. Combined with the low energy required for manufacture and relatively cheap materials of construction, DSC has tremendous potential for application wherever steel roofing is used.
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
At a time when virtually all of the construction and solar cell industry is experiencing a significant slowing of activity and short term demand and profitability declines are the norm, the Corus/Dyesol partnership has announced that the project to bring dye solar cells (DSC) onto metal roofing is being accelerated. The decision to accelerate the project was made on the basis of anticipated demand growing dramatically from 2010 and the success of the program to date, wherein the achievement of product milestones is well ahead of schedule.
Dyesol and Corus will commit more technical and production engineering staff to the project, and initiate real life product testing by mid 2009. The commercialization path will be shortened to eliminate one stage of the manufacturing assurance phase. This will mean that product will become available from the first production line in 2010 for selected customers.
The acceleration of the current phase is being financed predominantly by bringing forward planned commitments. Details of plans for the earlier commitment of production facilities from 2010 will be released over the coming months.
The dye solar cell integrated into steel roofing promises to be the first solar cell technology that can be grid competitive in the normal light conditions experienced in most cities around the world. The advantages of dye solar cells derive from the similarity with photosynthesis. Consequently, dye solar cells exhibit operating voltage stability across the normal daily solar conditions, including cloudy and hazy conditions. DSC is also less susceptible to hot conditions than other solar technologies – and it comes in a variety of natural colours. The technology has been demonstrated by Dyesol through accelerated testing to have an operating lifetime well in excess of the 25 years needed for BIPV applications. Combined with the low energy required for manufacture and relatively cheap materials of construction, DSC has tremendous potential for application wherever steel roofing is used.
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
Monday, 15 December 2008
Dyesol and Corus Accelerate Building Integrated Solar Cell Commercialisation
At a time when virtually all of the construction and solar cell industry is experiencing a significant slowing of activity and short term demand and profitability declines are the norm, the Corus/Dyesol partnership has announced that the project to bring dye solar cells (DSC) onto metal roofing is being accelerated. The decision to accelerate the project was made on the basis of anticipated demand growing dramatically from 2010 and the success of the program to date, wherein the achievement of product milestones is well ahead of schedule.
Dyesol and Corus will commit more technical and production engineering staff to the project, and initiate real life product testing by mid 2009. The commercialization path will be shortened to eliminate one stage of the manufacturing assurance phase. This will mean that product will become available from the first production line in 2010 for selected customers.
The acceleration of the current phase is being financed predominantly by bringing forward planned commitments. Details of plans for the earlier commitment of production facilities from 2010 will be released over the coming months.
The dye solar cell integrated into steel roofing promises to be the first solar cell technology that can be grid competitive in the normal light conditions experienced in most cities around the world. The advantages of dye solar cells derive from the similarity with photosynthesis. Consequently, dye solar cells exhibit operating voltage stability across the normal daily solar conditions, including cloudy and hazy conditions. DSC is also less susceptible to hot conditions than other solar technologies – and it comes in a variety of natural colours. The technology has been demonstrated by Dyesol through accelerated testing to have an operating lifetime well in excess of the 25 years needed for BIPV applications. Combined with the low energy required for manufacture and relatively cheap materials of construction, DSC has tremendous potential for application wherever steel roofing is used.
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
Dyesol and Corus will commit more technical and production engineering staff to the project, and initiate real life product testing by mid 2009. The commercialization path will be shortened to eliminate one stage of the manufacturing assurance phase. This will mean that product will become available from the first production line in 2010 for selected customers.
The acceleration of the current phase is being financed predominantly by bringing forward planned commitments. Details of plans for the earlier commitment of production facilities from 2010 will be released over the coming months.
The dye solar cell integrated into steel roofing promises to be the first solar cell technology that can be grid competitive in the normal light conditions experienced in most cities around the world. The advantages of dye solar cells derive from the similarity with photosynthesis. Consequently, dye solar cells exhibit operating voltage stability across the normal daily solar conditions, including cloudy and hazy conditions. DSC is also less susceptible to hot conditions than other solar technologies – and it comes in a variety of natural colours. The technology has been demonstrated by Dyesol through accelerated testing to have an operating lifetime well in excess of the 25 years needed for BIPV applications. Combined with the low energy required for manufacture and relatively cheap materials of construction, DSC has tremendous potential for application wherever steel roofing is used.
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
Wednesday, 5 November 2008
New steel works facilities opened
New steel works facilities opened
New high-tech environmental facilities at a steelworks in Deeside have been opened by First Minister Rhodri Morgan.
The two new multi-million pound projects at Corus' Shotton steel works should safeguard around 600 jobs at the plant.
One will produce panelling which includes insulation for roofing on commercial or residential buildings.
The second will undertake research into steel coated with solar cell technology to produce electricity.
Rhodri Morgan said it showed how companies were putting environmental technology at the forefront of investment plans.
"During difficult times in the construction sector, it is more important than ever for companies to be right at the forefront of new environmental technology exploiting new niche markets," he said.
"That's what today's product launches are all about.
"They are yet another example of how Corus continually looks to innovate and invest in delivering some of the most sustainable products available to today's construction sector."
The Shotton plant employs around 600 workers.
The new £6m production line at the works will produce around three million square metres of panelling a year using three shifts of workers.
It is widely recognised as the most automated and efficient production line in Europe.
The two panels sandwich insulation material between them.
The second project is an £11m joint collaboration between Corus and the Australian company Dyesol.
It is backed with about £5m in assembly government money, said a Corus spokesman.
The scheme aims to produce metal cladding products coated with a special dye including cells to make electricity.
"Steel production is being reduced across Western Europe, but demand for innovative products is very high," said the spokesman.
Shotton has lost more than 490 jobs since 2001 with the slim-down in the steel industry.
Corus was taken over by Tata Steel last year and the combined enterprise employs around 82,700 people across four continents.
New high-tech environmental facilities at a steelworks in Deeside have been opened by First Minister Rhodri Morgan.
The two new multi-million pound projects at Corus' Shotton steel works should safeguard around 600 jobs at the plant.
One will produce panelling which includes insulation for roofing on commercial or residential buildings.
The second will undertake research into steel coated with solar cell technology to produce electricity.
Rhodri Morgan said it showed how companies were putting environmental technology at the forefront of investment plans.
"During difficult times in the construction sector, it is more important than ever for companies to be right at the forefront of new environmental technology exploiting new niche markets," he said.
"That's what today's product launches are all about.
"They are yet another example of how Corus continually looks to innovate and invest in delivering some of the most sustainable products available to today's construction sector."
The Shotton plant employs around 600 workers.
The new £6m production line at the works will produce around three million square metres of panelling a year using three shifts of workers.
It is widely recognised as the most automated and efficient production line in Europe.
The two panels sandwich insulation material between them.
The second project is an £11m joint collaboration between Corus and the Australian company Dyesol.
It is backed with about £5m in assembly government money, said a Corus spokesman.
The scheme aims to produce metal cladding products coated with a special dye including cells to make electricity.
"Steel production is being reduced across Western Europe, but demand for innovative products is very high," said the spokesman.
Shotton has lost more than 490 jobs since 2001 with the slim-down in the steel industry.
Corus was taken over by Tata Steel last year and the combined enterprise employs around 82,700 people across four continents.
Tuesday, 4 November 2008
Dyesol/Corus facilities open in Wales
Wales, 30 October 2008 – Australia’s dye solar cell technology company, Dyesol furthered its goal of capturing a significant slice of the global solar photovoltaic market, forecast to be worth over $US 30 billion in 2008, with the opening today of a new multi-million dollar facility in Wales, just weeks after unveiling its materials manufacturing and equipment design and assembly facility in Australia.
The leader of the Welsh Assembly Government and First Minister for Wales, The Right Hon Rhodri Morgan AM opened the new Photovoltaic Accelerator Facility which is a continuation of a collaborative program between Dyesol and Corus to accelerate the commercialisation of Dye Solar Cell (DSC) technology onto steel sheeting building products.
The Welsh Assembly Government has been a strong supporter of the partnership, providing a substantial assistance package of over £5M towards the establishment of the new facility, which is located in Shotton in North Wales, and the development of DSC on steel products. At the time of receiving this grant, it was the highest sum ever to be awarded under this grant scheme.
At the opening, Corus, the fifth largest steel producer in the world, also showcased the most technologically advanced composite panel manufacturing lines in Europe, reinforcing Corus’s commitment to the region where two other Corus businesses already operate. Mr Phillippe Varin, CEO of Corus, stressed the importance of innovation to the future of Corus, particularly at this time when traditional steel business is affected by the credit crisis. For Corus, DSC on steel represents a major new business opportunity.
The advantage of Dyesol’s DSC technology over conventional photovoltaic technology is its lower facility cost, lower energy to manufacture, proportionally higher output of electricity in normal and low light conditions, and the ability to directly incorporate it into buildings as passive electricity generators – multifunctional building panels. This is known as BIPV or Building Integrated Photovoltaics. The partnership with Corus is bringing DSC to the market as a fully integrated steel building product produced on the Corus coil-coating lines. Dyesol is the exclusive supplier of all the DSC input materials, test, and DSC prototype manufacturing and testing equipment to this partnership.
Speaking at the opening, Dyesol’s Global Managing Director, Dr Gavin Tulloch said, “Dyesol is proud to be associated with Corus, a partner that has demonstrated its commitment to the environment and the future of cost effective energy security. We are also proud to be associated with the Welsh government, whose commitment to the team has accelerated the project. Dyesol’s business is to be part of technical collaborations and business partnerships in those countries where organisations, research institutes and governments recognise and foster an environment that promotes the rapid commercialisation of DSC technology.”
“As governments around the world legislate to meet the consequences of global warming, significant new opportunities and new applications are emerging as Dyesol works with more organisations to develop new products, including security applications, the communications market and buildings facades. In a tightening credit market, lower cost projects such as what Dyesol offers will have much more appeal than the billion dollar silicon projects” Dyesol Chairman, Mr Richard Caldwell commented.
The Dyesol group was founded in Australia, is listed on the ASX (DYE) and trades in Germany (D5I), and has European operations in Italy, UK and Switzerland with representation in Germany, as well as a joint venture in Korea and operations in Singapore.
The leader of the Welsh Assembly Government and First Minister for Wales, The Right Hon Rhodri Morgan AM opened the new Photovoltaic Accelerator Facility which is a continuation of a collaborative program between Dyesol and Corus to accelerate the commercialisation of Dye Solar Cell (DSC) technology onto steel sheeting building products.
The Welsh Assembly Government has been a strong supporter of the partnership, providing a substantial assistance package of over £5M towards the establishment of the new facility, which is located in Shotton in North Wales, and the development of DSC on steel products. At the time of receiving this grant, it was the highest sum ever to be awarded under this grant scheme.
At the opening, Corus, the fifth largest steel producer in the world, also showcased the most technologically advanced composite panel manufacturing lines in Europe, reinforcing Corus’s commitment to the region where two other Corus businesses already operate. Mr Phillippe Varin, CEO of Corus, stressed the importance of innovation to the future of Corus, particularly at this time when traditional steel business is affected by the credit crisis. For Corus, DSC on steel represents a major new business opportunity.
The advantage of Dyesol’s DSC technology over conventional photovoltaic technology is its lower facility cost, lower energy to manufacture, proportionally higher output of electricity in normal and low light conditions, and the ability to directly incorporate it into buildings as passive electricity generators – multifunctional building panels. This is known as BIPV or Building Integrated Photovoltaics. The partnership with Corus is bringing DSC to the market as a fully integrated steel building product produced on the Corus coil-coating lines. Dyesol is the exclusive supplier of all the DSC input materials, test, and DSC prototype manufacturing and testing equipment to this partnership.
Speaking at the opening, Dyesol’s Global Managing Director, Dr Gavin Tulloch said, “Dyesol is proud to be associated with Corus, a partner that has demonstrated its commitment to the environment and the future of cost effective energy security. We are also proud to be associated with the Welsh government, whose commitment to the team has accelerated the project. Dyesol’s business is to be part of technical collaborations and business partnerships in those countries where organisations, research institutes and governments recognise and foster an environment that promotes the rapid commercialisation of DSC technology.”
“As governments around the world legislate to meet the consequences of global warming, significant new opportunities and new applications are emerging as Dyesol works with more organisations to develop new products, including security applications, the communications market and buildings facades. In a tightening credit market, lower cost projects such as what Dyesol offers will have much more appeal than the billion dollar silicon projects” Dyesol Chairman, Mr Richard Caldwell commented.
The Dyesol group was founded in Australia, is listed on the ASX (DYE) and trades in Germany (D5I), and has European operations in Italy, UK and Switzerland with representation in Germany, as well as a joint venture in Korea and operations in Singapore.
Wednesday, 29 October 2008
Dyesol Update
Dyesol finished the first quarter of the financial year with cash reserves of $10.54 million and controlled cash flow, as planned for the period.
The September 2008 quarter demonstrated that Dyesol has achieved its goals to stabilise operational spending while increasing revenue. In fact, revenue increased by 387% to $1.29M (including $359K in R&D tax rebate). Consequently nett operational spend was down 40% to $2.092 Million. Expenses for all operational activities are steady. It is noted that all Dyesol’s cash is held as current and short term deposits in top trading banks in Australia (CBA and St George), UK (HSBC), Switzerland (Raiffeisen), and Italy (BPM). Dyesol’s investment in our joint venture with Timo Technologies in Korea of US$490,000 was made at an exchange rate of 0.8986 ($US/$A).
During the quarter, Dyesol completed commitments for equipment for the new facilities in St Asaph, Shotton and Queanbeyan. Total investment was $2.165M with creditors outstanding of less than $400K. The Dyesol facility in St Asaph is the company’s demonstration laboratory facility and is used for R&D and materials approval and complements our joint prototyping facility at University of Rome Tor Vergata (formally opened this quarter). Since the cash report date, Dyesol has opened the new materials manufacturing and engineering facilities in Queanbeyan and received excellent acclaim for the quality and professionalism of this initiative. Dyesol’s commitments to facilities with Corus at Shotton have now been finalised with equipment produced in Queanbeyan currently being installed in Wales. Further expansion of facilities will depend on new business opportunities.
Since the cash report date, the company has received formal confirmation that cash payments due from the Welsh Government and from Tor Vergata University totalling over A$1.25M have been authorised. Existing contracts in Korea and Taiwan due for completion early in the new year will generate revenue exceeding $1.1 Million on completion of project milestones.
Expenditure in UK and Italy is backed by the company’s holdings in Sterling and Euros. Expenditure in Switzerland is subject to exchange rate fluctuations.
Dyesol has no debt and capital lease liabilities of only $29K. In Australia, the company has invested in long shelf life raw materials inventory for potential materials contracts – stock level is over $800K. The company has a robust balance sheet with over $23M nett assets.
Authorised by: Dr Gavin Tulloch (Managing Director Dyesol) +61 (0)2 6299 1592
The September 2008 quarter demonstrated that Dyesol has achieved its goals to stabilise operational spending while increasing revenue. In fact, revenue increased by 387% to $1.29M (including $359K in R&D tax rebate). Consequently nett operational spend was down 40% to $2.092 Million. Expenses for all operational activities are steady. It is noted that all Dyesol’s cash is held as current and short term deposits in top trading banks in Australia (CBA and St George), UK (HSBC), Switzerland (Raiffeisen), and Italy (BPM). Dyesol’s investment in our joint venture with Timo Technologies in Korea of US$490,000 was made at an exchange rate of 0.8986 ($US/$A).
During the quarter, Dyesol completed commitments for equipment for the new facilities in St Asaph, Shotton and Queanbeyan. Total investment was $2.165M with creditors outstanding of less than $400K. The Dyesol facility in St Asaph is the company’s demonstration laboratory facility and is used for R&D and materials approval and complements our joint prototyping facility at University of Rome Tor Vergata (formally opened this quarter). Since the cash report date, Dyesol has opened the new materials manufacturing and engineering facilities in Queanbeyan and received excellent acclaim for the quality and professionalism of this initiative. Dyesol’s commitments to facilities with Corus at Shotton have now been finalised with equipment produced in Queanbeyan currently being installed in Wales. Further expansion of facilities will depend on new business opportunities.
Since the cash report date, the company has received formal confirmation that cash payments due from the Welsh Government and from Tor Vergata University totalling over A$1.25M have been authorised. Existing contracts in Korea and Taiwan due for completion early in the new year will generate revenue exceeding $1.1 Million on completion of project milestones.
Expenditure in UK and Italy is backed by the company’s holdings in Sterling and Euros. Expenditure in Switzerland is subject to exchange rate fluctuations.
Dyesol has no debt and capital lease liabilities of only $29K. In Australia, the company has invested in long shelf life raw materials inventory for potential materials contracts – stock level is over $800K. The company has a robust balance sheet with over $23M nett assets.
Authorised by: Dr Gavin Tulloch (Managing Director Dyesol) +61 (0)2 6299 1592
Thursday, 28 August 2008
Dyesol results
The year to 30 June 2008 has seen Dyesol emerge as a leading force internationally in new generation solar energy. In this year the Company has made significant investment to establish capacity to deliver on the many business opportunities that have arisen. Dyesol now has operations spanning Europe and Asia that enable the Company to bid for and win contracts that we could not have considered or qualified for from our Australian base. An example is the partnership with Corus to develop and industrialise dye solar cells on strip steel for building integration. Our investment in establishing Dyesol UK, setting up prototype facilities in North Wales and employing the team of 8 scientists has brought fruit through the commitment by the Welsh Assembly Government to support the partnership to a level of £5 million during the prototype and pilot production phases. This has enabled Dyesol to plan with assurance for volume manufacture in the UK for the planned industrialization phase. In Italy, Dyesol has established a collaboration with the Universita Dgli Studia Roma Tor Vergata following commitment by the university to acquire a prototyping facility from Dyesol. The industrial and academic team is finalizing a bid for a €10 million project in Italy. In Asia, Dyesol has been approached by many companies seeking to commercialise DSC. Since the end of the year, we have been able to announce three of those projects, two in Korea and one in Taiwan. The Company has been very selective in entering partnerships and collaborates only with organizations that demonstrate financial capacity and long term business and technological commitment. This is essential for commercial success as Dyesol’s business model provides for our major returns to be earned once our partners, collaborators and licencees enter volume manufacture. Consequently, the Company undertakes significant due diligence before committing to a commercial relationship to the extent that there are several other opportunities in Europe, Asia, North America and the Gulf that the international team are evaluating at this time.
In Australia, FY08 has been the year for commitment to production resources for materials and equipments. The new materials manufacturing facility is now completed and will be officially opened shortly. That facility has a capacity of $10 million worth of dye per annum and will shortly be able to produce over $5 million of pastes per annum. The facilities have capacity to double output as demand grows. Our new engineering facilities are on line and the range of prototype equipments is now complete. This investment in the future is reflected in the expenditure on corporate growth and capital equipment. Expense for international growth has predominated in the marketing expense of $2.39 million. The other key element in this line item is the expenditure on exhibitions and sponsorship of high profile conferences in our field. Capital expenditure this year has been $2.37 million predominantly for facility expansion in Queanbeyan, but also comprising the initial prototyping capacity at our facilities in St Asaph in Wales. These new facilities in Queanbeyan will complete Dyesol’s planned investment in Australian operations.
Coupled with the commitment to corporate growth and facilities, the Company has steadily expanded its technological and executive resource to be able to serve the rapidly growing project base internationally. Expenditure on personnel more than doubled in the year to $4.17 million of which $0.67 million was the non-cash value of staff options as calculated by the Black-Scholes method.
In this year sales grew to $2.12 million. While this was below expectations at the start of the year, it is primarily a matter of phasing in key projects in UK, Italy and Asia, each of which has now commenced. The principle project is the partnership with Corus. During the year, one planned project has not eventuated due to the closure by the new Australian government of the Commercial Ready scheme that provided assistance to companies in expansion phase investment. During FY08, Dyesol successfully completed the project for DSTO to develop a camouflage flexible solar panel. The commercial version of this panel will be known as SureVolt reflecting the capability to produce useful power in any light conditions. That project has now entered the engineering phase to prepare for pilot production.
The overall loss for the year of $7.66 million included non cash items of $1.23 million for share based payments to staff and international marketing consultants. This high value was arrived at using the Black Scholes option valuation method and is well out of the market as a result of volatility of Dyesol share price during the year. Depreciation and amortisation amounted to $740K and foreign exchange losses total $180K ($117K unrealized). Payments of a one-off nature totalled $1,130K, primarily related to consultancy services for business establishment and international activities. Significant labour costs were incurred in the administration and marketing areas, with the level of administration support directly related to the increase in scientific personnel. Conference costs of $302K mainly relate to the highly successful Nanofair exhibition and conference at St Gallen in September 2007. Total marketing, new office establishment, and sales expense was $2.37 million, above expectations due to the rate of expansion achieved in the year. The other major expenditure category was R&D which totalled $2.17 million, a level that the Company intends to at least maintain to remain the world leader in DSC technology, equipment and materials.
The year end sees a very solid Balance Sheet with Current Assets at $17.7 million compared to Current Liabilities of only $0.94 million. The Company carries no bank debt and no assets are subject of security. When capital assets are brought to account the Company has a healthy Net Asset balance of $24.28 million. The confidence shown by shareholders in investing $24.4 million during the year has been a key element in the rapid expansion that Dyesol has been able to implement this year.
Net cash usage for operations of $7.8 million reflects an average utilisation of $650K per month within the planned range for this phase of the Company’s growth. Consequently, with similar spend over the next period to promote Dyesol in the international sphere and meet our investment goals under existing development projects, while accepting that cash levels will be maintained due to progressively higher revenue, will place Dyesol in a very good position to reap the rewards from sales to several major customers and partners.
In Australia, FY08 has been the year for commitment to production resources for materials and equipments. The new materials manufacturing facility is now completed and will be officially opened shortly. That facility has a capacity of $10 million worth of dye per annum and will shortly be able to produce over $5 million of pastes per annum. The facilities have capacity to double output as demand grows. Our new engineering facilities are on line and the range of prototype equipments is now complete. This investment in the future is reflected in the expenditure on corporate growth and capital equipment. Expense for international growth has predominated in the marketing expense of $2.39 million. The other key element in this line item is the expenditure on exhibitions and sponsorship of high profile conferences in our field. Capital expenditure this year has been $2.37 million predominantly for facility expansion in Queanbeyan, but also comprising the initial prototyping capacity at our facilities in St Asaph in Wales. These new facilities in Queanbeyan will complete Dyesol’s planned investment in Australian operations.
Coupled with the commitment to corporate growth and facilities, the Company has steadily expanded its technological and executive resource to be able to serve the rapidly growing project base internationally. Expenditure on personnel more than doubled in the year to $4.17 million of which $0.67 million was the non-cash value of staff options as calculated by the Black-Scholes method.
In this year sales grew to $2.12 million. While this was below expectations at the start of the year, it is primarily a matter of phasing in key projects in UK, Italy and Asia, each of which has now commenced. The principle project is the partnership with Corus. During the year, one planned project has not eventuated due to the closure by the new Australian government of the Commercial Ready scheme that provided assistance to companies in expansion phase investment. During FY08, Dyesol successfully completed the project for DSTO to develop a camouflage flexible solar panel. The commercial version of this panel will be known as SureVolt reflecting the capability to produce useful power in any light conditions. That project has now entered the engineering phase to prepare for pilot production.
The overall loss for the year of $7.66 million included non cash items of $1.23 million for share based payments to staff and international marketing consultants. This high value was arrived at using the Black Scholes option valuation method and is well out of the market as a result of volatility of Dyesol share price during the year. Depreciation and amortisation amounted to $740K and foreign exchange losses total $180K ($117K unrealized). Payments of a one-off nature totalled $1,130K, primarily related to consultancy services for business establishment and international activities. Significant labour costs were incurred in the administration and marketing areas, with the level of administration support directly related to the increase in scientific personnel. Conference costs of $302K mainly relate to the highly successful Nanofair exhibition and conference at St Gallen in September 2007. Total marketing, new office establishment, and sales expense was $2.37 million, above expectations due to the rate of expansion achieved in the year. The other major expenditure category was R&D which totalled $2.17 million, a level that the Company intends to at least maintain to remain the world leader in DSC technology, equipment and materials.
The year end sees a very solid Balance Sheet with Current Assets at $17.7 million compared to Current Liabilities of only $0.94 million. The Company carries no bank debt and no assets are subject of security. When capital assets are brought to account the Company has a healthy Net Asset balance of $24.28 million. The confidence shown by shareholders in investing $24.4 million during the year has been a key element in the rapid expansion that Dyesol has been able to implement this year.
Net cash usage for operations of $7.8 million reflects an average utilisation of $650K per month within the planned range for this phase of the Company’s growth. Consequently, with similar spend over the next period to promote Dyesol in the international sphere and meet our investment goals under existing development projects, while accepting that cash levels will be maintained due to progressively higher revenue, will place Dyesol in a very good position to reap the rewards from sales to several major customers and partners.
Thursday, 19 June 2008
DyeSol endorsed by Oekom Research.
Canberra, Australia 19 June 2008 - Leading Australian Dye Solar Cell (DSC) technology company, Dyesol Limited (ASX: DYE) has been ranked among the world’s best companies in the Renewable Energy & Energy Efficiency Sector by global company ratings agency, Oekom Research.
Oekom Research AG is one of the world’s leading rating agencies and provides the crucial head start in the segment of sustainable investments. Being the partner of institutional investors and financial service providers, Oekom develops innovative investment strategies that combine sustainability research with a high rate of return.
Oekom Research has awarded Dyesol a Prime Corporate Responsibility Rating, qualifying the Company as an attractive proposition for ethical and sustainable investors, many of whom see this rating as a pre-requisite for investment in the ethical and renewable energy sectors.
“This is a tremendous endorsement,” Dyesol Industries’ managing director, Mrs Sylvia Tulloch, says. “This rating, from one of the leading international and independent company rating agencies, consolidates Dyesol’s position at the forefront of the renewable energy sector and reinforces the Company’s credentials as a sound investment.”
As Dyesol rapidly expands its global footprint and ramps up manufacturing capacity, the Prime Rating could not come at a better time.
In May this year and in partnership with one of the world’s largest steel producers, Dyesol formally commenced the joint Welsh Assembly Government (WAG) sponsored project to integrate Dye Solar Cells (DSC) onto strip steel. WAG is providing funding under the SMARTCymru program and the project will be undertaken in North Wales.
Globally, there are over a billion square meters of coated steel roofs erected each year providing an unmatched opportunity for expanding the market for solar electricity generation.
DSC is the only solar technology which is being integrated into the coil coating process used to produce colour coated steel sheets. With rapidly rising energy prices, including oil now settling above the US$100/barrel mark, and global focus on climate change, the demand is expanding for buildings with lower imported energy use and a considerably reduced overall carbon footprint, not just in the U.K. and Europe, but also in the Gulf and East Asia.
Earlier this month, Dyesol signed a Heads of Agreement in (HOA) with Timo Technology (KOSDAQ: 037340) to progress joint venture discussions to develop Dyesol’s DSC technology for the consumer electronics market in Korea.
Just recently and closer to home, Dyesol met the second last milestone in the contract with Defence Science and Technology Organisation (DSTO) for the development and demonstration of light weight flexible camouflage solar panels.
“We are on track to becoming the world leader in DSC technology. In fact, in 2008 Dyesol will transition from pilot stage into full commercialisation ensuring we fully maximise the value in the Company,” Mrs Tulloch says.
For further information contact Viv Hardy at CallidusPR on +61 (0) 2 9283 4113 or on +61 (0) 411 208 951.
Note to editors
About Oekom Research
Oekom Research AG is one of the world’s leading rating agencies and provides the crucial head start in the segment of sustainable investments. Being the partner of institutional investors and financial service providers, oekom develops innovative investment strategies that combine sustainability research with a high rate of return.
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 sandwiched between glass. 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
Oekom Research AG is one of the world’s leading rating agencies and provides the crucial head start in the segment of sustainable investments. Being the partner of institutional investors and financial service providers, Oekom develops innovative investment strategies that combine sustainability research with a high rate of return.
Oekom Research has awarded Dyesol a Prime Corporate Responsibility Rating, qualifying the Company as an attractive proposition for ethical and sustainable investors, many of whom see this rating as a pre-requisite for investment in the ethical and renewable energy sectors.
“This is a tremendous endorsement,” Dyesol Industries’ managing director, Mrs Sylvia Tulloch, says. “This rating, from one of the leading international and independent company rating agencies, consolidates Dyesol’s position at the forefront of the renewable energy sector and reinforces the Company’s credentials as a sound investment.”
As Dyesol rapidly expands its global footprint and ramps up manufacturing capacity, the Prime Rating could not come at a better time.
In May this year and in partnership with one of the world’s largest steel producers, Dyesol formally commenced the joint Welsh Assembly Government (WAG) sponsored project to integrate Dye Solar Cells (DSC) onto strip steel. WAG is providing funding under the SMARTCymru program and the project will be undertaken in North Wales.
Globally, there are over a billion square meters of coated steel roofs erected each year providing an unmatched opportunity for expanding the market for solar electricity generation.
DSC is the only solar technology which is being integrated into the coil coating process used to produce colour coated steel sheets. With rapidly rising energy prices, including oil now settling above the US$100/barrel mark, and global focus on climate change, the demand is expanding for buildings with lower imported energy use and a considerably reduced overall carbon footprint, not just in the U.K. and Europe, but also in the Gulf and East Asia.
Earlier this month, Dyesol signed a Heads of Agreement in (HOA) with Timo Technology (KOSDAQ: 037340) to progress joint venture discussions to develop Dyesol’s DSC technology for the consumer electronics market in Korea.
Just recently and closer to home, Dyesol met the second last milestone in the contract with Defence Science and Technology Organisation (DSTO) for the development and demonstration of light weight flexible camouflage solar panels.
“We are on track to becoming the world leader in DSC technology. In fact, in 2008 Dyesol will transition from pilot stage into full commercialisation ensuring we fully maximise the value in the Company,” Mrs Tulloch says.
For further information contact Viv Hardy at CallidusPR on +61 (0) 2 9283 4113 or on +61 (0) 411 208 951.
Note to editors
About Oekom Research
Oekom Research AG is one of the world’s leading rating agencies and provides the crucial head start in the segment of sustainable investments. Being the partner of institutional investors and financial service providers, oekom develops innovative investment strategies that combine sustainability research with a high rate of return.
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 sandwiched between glass. 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
Monday, 18 June 2007
DYESOL has enormous potential
Dyesol has been a pioneer in the field of Dye Sensitised Cells over the last 10 years and is now providing the key dyes and Titania pastes to many of the research and commercial organisations developing DSC applications.
DSC technology can best be described as ‘artificial photosynthesis’ using an electrolyte, a layer of titania (Ti02)(the white pigment used in white paints and tooth paste) and ruthenium dye sandwiched between glass. 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
DSC technology can best be described as ‘artificial photosynthesis’ using an electrolyte, a layer of titania (Ti02)(the white pigment used in white paints and tooth paste) and ruthenium dye sandwiched between glass. 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 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. The Company is playing a key role in taking this third generation solar technology out of the laboratory and into the community.
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