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Dyesol engaged for feasibility study for glass dye solar cells in Turkey

Source:, April 14, 2009

Dyesol (ASX:DYE) 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).

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”.

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.

Dyesol finished the December 2008 quarter with cash reserves of $7.98 million with net operational cash usage for quarter on par with the previous quarter. The Dyesol order book exceeds $5M. The cash is backed up by physical assets at written down value of $5.72M as well as the company’s extensive world-wide IP portfolio. Net assets are nearly $22M. Dyesol continues to operate debt free.

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.

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.