DGAP-News: Dyesol Limited: Another milestone surpassed on the road to millions of DSC roofs

05.11.2009

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The collaboration project between Dyesol and Corus has surpassed another milestone on the road to full commercialisation with the team meeting all the contractual criteria and performance targets of the Welsh Assembly Government (WAG) contract. The project, supported by the WAG with more than £5 million, has now passed its sixth milestone and continues to be well ahead of schedule. As each of these milestones is achieved, the value proposition is further enhanced for dye solar cells (DSC) on metal strip for use in buildings. On 4 November the milestone review meeting was held at the joint PV Accelerator facility, on the Shotton site of Corus, which houses the 30 person technology team bringing this unique building integrated photovoltaic (BIPV) product to market.

In parallel to the product development work necessary to achieve this milestone, Dyesol and Corus have now formed the team into a Corus-led production oriented organisation addressing the particular issues as we move closer to production. The emphasis is now on the product, process optimisation and integration of the continuous manufacturing processes. Rodney Rice of Corus continues as Project Manager with responsibility for the product, while Dr Chris Moore, Dyesol's Project Manager in the team, leads process optimisation of the product. During the forthcoming 'Alpha Model' period the facility will output about 1.5km of product for performance and long term testing, and for integration trials.

A key aspect to the success of this project to date has been the recognition by both Corus and Dyesol of the value of the intellectual property (IP) contributed by the other party. The Steering Committee led by Kevin Bygate of Corus, and Gavin Tulloch of Dyesol has reiterated that the principle of the collaboration involves equitable sharing of IP to guarantee success of the project. This has been facilitated because the companies addressed the commercial rights prior to initiating the project. As well as having provided the DSC technology design and core processes for the project Dyesol is the supplier of DSC materials to Corus. The companies will share the rewards of commercialising the products worldwide - Dyesol's benefit being supply of the DSC elements. In this coming phase Dyesol is planning the scale-up of materials manufacture, particularly in Wales, to meet the forecast demand for the portfolio of DSC materials.

Based on the existing coated steel market of over 1 billion square metres per annum, the annual addressable market is forecast to be over 200 million square metres of photovoltaic product (or up to 35GW of PV power). The advantages of DSC in this market are: lower cost of manufacturing plant, lower production cost, better performance in normal solar conditions and a range of natural colours. Another element of the successful early planning is that Dyesol's ongoing role will involve development and inject new technology into the product to ensure market leadership for many years to come.

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 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.

Corus Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the UK and the Netherlands, Corus supplies steel and related services to the construction, automotive, packaging, mechanical engineering and other markets worldwide. Corus is a subsidiary of Tata Steel, one of the world's top ten steel producers. Following the acquisition of Corus in 2007, the combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.

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 (DSC) 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.

More detail about the company and the technology can be found at: http://www.dyesol.com More detail about Corus can be found at http://www.corusgroup.com

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

05.11.2009 Financial News transmitted by DGAP