Dyesol awarded coveted Prime Corporate Responsibility rating by global rating agency
Canberra, Australia, 19 June 2008
Source: Ad-hoc News
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.
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