Dyesol Limited / Miscellaneous/Miscellaneous 21.10.2009 Dissemination 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 and Timo Technology have agreed to increase their combined investment into the Korean-based joint venture, Dyesol-Timo by a further 2 Billion Korean Won. This investment provides the JV with the capital to finalise glass based product development and the other prerequisites to plan volume manufacturing of glass-based dye solar cell (DSC) products. The additional investment of 1.013 Billion Korean Won (approximately $950,000 Australian) by Dyesol will move Dyesol to a majority shareholding of 50.1% in the venture. Timo Technology and associated parties will invest 0.987 Billion and retain a 49.9% holding in the venture. Dyesol, as the holder of the principal intellectual property underpinning the venture, will derive licence fees from the intended Korean manufacturing activities. The JV was formed in September 2008 with Timo Technology to provide a technology development and manufacturing facility in one of the fastest growing solar markets globally. Dyesol provided an equipment solution to develop products and establish the venture's pilot line which was opened in July this year. This line provides the springboard for the push to volume manufacturing. For further information contact on Viv Hardy at Callidus PR on +61 (0)2 9283 4111 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. Timo Technology Timo Technology was established in 1996. With 128 employees, and turnover of over $60 million, its shares are listed on KOSDAQ. Timo Technology commenced a renewables business focused on dye solar cell technology in 2007. 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 More detail about Timo Technology can be found at: http://www.timo.co.kr For further information contact on Viv Hardy at Callidus PR on +61 (0)2 9283 4111 or on +61 (0)411 208 951. In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177 6058804 21.10.2009 |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|] ---------------------------------------------------------------------------
DGAP-News: Dyesol Limited: Dyesol increases stake in Korean JV
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