DGAP-News: Dyesol Limited: Dyesol increases stake in Korean JV


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.

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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|]]]|]

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