PRESS RELEASE: Dyesol Limited: Korea emerging as major market for Dyesol - another contract activated
Dyesol Limited / Miscellaneous/Miscellaneous 16.07.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- Dyesol Ltd. (ASX: DYE) has entered into a EUR600,000 (approximately AUD 1M) contract with Korean company Acrosol to supply a turnkey R&D laboratory and provide comprehensive training in Dye Solar Cell (DSC) development. Led by Dr Hyung-Gon Jeong, Acrosol is a Korean University spin out company located in the business incubator at Chonnam National University, with proprietary technology, intellectual property and expertise in Dye Solar Cell nanomaterials, particularly Phosphor Doped DSC. 'Dyesol is increasingly being recognised as the world leader in DSC materials and technology. There is a rapidly growing demand for our technology, turnkey facilities, materials, and practical expertise from an increasing number of companies entering the DSC market operating in diverse geographic locations,' Dyesol Director Global Gordon Thompson said. Acrosol will develop and commercialise its technology and products through a commercial arrangement with Dyesol involving ongoing technological collaboration and materials supply. The contract commenced on receipt of the initial payment of EUR150,000. This new Korean initiative comes just weeks after Dyesol signed a Heads of Agreement with the Kosdaq listed company Timo Technology as the first step in establishing a joint venture in Korea. For further information contact Sylvia Tulloch (Managing Director, Dyesol Industries) on +61 (0) 2 6299 1250 or Viv Hardy at Callidus PR on +61 (0)2 9283 4113 or on +61 (0) 411 208 951. 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 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. More detail about the company and the technology can be found at: http://www.dyesol.com Related releases: Dyesol & Timo Technology Sign off Heads of Agreement (HOA) for Korean Joint Venture - http://www.dyesol.com/index.php?page=News Dyesol signs Heads of Agreement for Korean Joint Venture - http://www.dyesol.com/index.php?page=Broadcasts For further information contact Sylvia Tulloch (Managing Director, Dyesol Industries) on +61 (0) 2 6299 1250 or Viv Hardy at Callidus PR on +61 (0)2 9283 4113 or on +61 (0) 411 208 951. 16.07.2008 Financial News transmitted by DGAP =--------------------------------------------------------------------------
(END) Dow Jones Newswires
July 16, 2008 01:08 ET (05:08 GMT)
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