Dyesol, a world leader in the commercialisation of dye solar cell (DSC) technology and CSIRO expect to finalise the documents shortly that define a collaboration which has the objective to develop higher performing dyes in a two year project funded by CSIRO's Australian Growth Partnership (AGP) programme. The details will be announced to the market upon execution.
Under the proposed terms of the collaboration, Dyesol will project manage a specialised team of experienced scientists from CSIRO to work with the Company on an agreed development program leveraging Dyesol's deep knowledge of ruthenium based dyes and CSIRO's extensive modelling and research capability. The program will target the creation of new intellectual property (IP) that the Company expects will further reinforce its market leadership position in the DSC photovoltaic market. Under the proposed terms, Dyesol can exclusively access the project IP.
Ruthenium based dyes, known as organo-metallic dyes, are at the core of DSC technology. DSC requires the deposition of nano-particulate titania, ruthenium dyes and an electrolyte, sandwiched between suitable substrates, capturing light and, through an electrochemical process, converting it into energy. DSC is particularly suited to building integrated photovoltaic (BIPV) applications offering an energy solution to the built environment which is the largest consumer of electrical power globally.
Dyesol Australia's Chief Executive Officer, Ross MacDiarmid said: “This project is a further example of the effectiveness of Dyesol's commercialisation strategy in which partnerships with global companies such as CORUS (Tata Steel) to develop metal based products and the collaboration with Pilkington NA to develop glass-based products, is complemented by the programs with technology leaders like Merck and the CSIRO to develop valuable IP around higher performing materials. We look forward to partnering and consider this another milestone in the inexorable progress of DSC to the market place.”
The arrangements being finalised, involve the purchase of a Dyesol laboratory solution by CSIRO, a direct investment into Dyesol via the AGP program and in-kind contributions from both CSIRO's Energy Transformed Flagship and Dyesol itself.
Should the program outcomes be achieved, the terms of the financing facility provides Dyesol with flexibility in respect to its preferred repayment options including the issue of equity to CSIRO and/or royalty stream participation.
Dyesol believes that once executed, this world-class partnership will add to those already in place, offering it an exceptional opportunity to leverage the R&D capability of its collaborators with the application development experience of its commercial partners to support the business model that will deliver DSC products to the world market.