Dye Sensitized Solar Cells (DSSC)

Sydney, 16 August 2007
Source: Dyesol.com press release

Leading Dye Solar Cell materials manufacturer Dyesol (ASX: DYE) will invest in a new plant to increase manufacturing capacity up to ten-fold by the second quarter of 2008. This will provide capacity to fill commercial dyes orders of over $10 million per annum and to enhance the range and volume of titania pastes production for capacity of over 50kg/month.

Commercial quantities of pastes which are formulated to be applied by different processes including doctor blading and tape casting will also be added to Dyesol’s range of screen printing pastes, and strategic partners will be provided with a process/material package for novel deposition of the platinum catalyst which is a key material for the cell cathode.

With a fast growing international footprint, substantial orders and a strong cash position, Dyesol is well positioned to take full advantage of the booming solar technology industry.

Dyesol recently raised over $22.5 million in a private placement and SPP to fund the new manufacturing facilities, expand national and international infrastructure and fund strategically important acquisitions. Dyesol’s share register has been strengthened by the addition of over 1000 new shareholders, including some of the most respected investors in international ‘clean tech’ stocks.

The global market for photovoltaic cells is growing by an average of 30% annually and in 2006 was valued at US$15 billion. Although DSC technology is still relatively new, it’s unique ability to generate electricity in low light conditions and in highly flexible forms may make solar an option in places never before considered.

Dyesol has manufactured these dyes and titania pastes for nearly 200 research and commercial organisations. The biggest advantage Dye Solar Cells have over the earlier generation thin film semi conductor photovoltaics is that they are more efficient in low light conditions such as haze, shadows, unusual angles and indoor conditions.

Solar energy is already a major focus of governments throughout the world, particularly in Europe and Europe continues to be a major focus for the company; having acquired a subsidiary in Switzerland and just launched a subsidiary in the United Kingdom.

In February this year, Dyesol International opened an office in Singapore, which built on other successes throughout the region, including technical cooperation with the Chinese Academy of Science’s Institute of Plasma Physics as well as collaborative partnerships in Japan.

Following 18 months of providing the National Science and Technology Development Agency (NSTDA) of Thailand with technology, equipment and materials support to expand its laboratory and prototype facilities to commercialise dye solar cells in Thailand, a recently signed MOU means Dyesol will provide additional materials and technology to fast track NSTDA’s commercialisation process involving Thai industry.

This MOU is strategically important to Dyesol’s long term growth strategy which is to identify new markets for its DSC materials and equipment and to collaborate with organisations developing products for the market place.