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Australian "clean-tech" company, Dyesol Limited (ASX: DYE, OTCQX: DYSOY, FBW: D5I.F), has raised a total of AUD $5 million, through take-up by shareholders of the recent Share Purchase Plan and a supplementary placement to sophisticated investors.
The transaction was partly underwritten by Octa Phillip Securities for a total of $3 million and, consequently, there was no shortfall to the underwriter.
In addition to the approximate $3.9 million of proceeds raised from the Share Purchase Plan, the Company has also placed $1.1 million in shares at 18 cents per share to sophisticated investors, comprised principally of existing sophisticated investor shareholders. The total number of shares to be issued will be approximately 27.78 million.
"The Company is deeply gratified by the strong financial support from Dyesol shareholders and looks forward to reporting exciting developments in our world-class partner projects in the coming weeks and months." Dyesol Chairman Richard Caldwell stated.
Dyesol is a global supplier of Dye Solar Cell (DSC) materials, technology and know-how. The Company supplies photovoltaic enabling technology and materials to manufacturers seeking to value-add photovoltaic capability into their products, such as glass building façade or steel roofing products.
DSC is a third generation photovoltaic technology enabling metal, glass and polymeric based products in the building, transport and electronics sectors to generate clean electricity and improve energy efficiency.
DSC is a biomimetic nanotechnology which mimics the natural process of photosynthesis to generate energy from (sun) light. Special advantages of DSC technology is good performance in shade, haze/pollution, vertical installation, and at dawn and dusk - i.e. real world solar conditions.
Radio Interview: To hear more about the capital raising results, listen to a radio interview with Dyesol Chairman Richard Caldwell airing 29 March 2012. Visit Dyesol's Audio Library to listen to the interview - visit www.dyesol.com go to the Investors tab then click on Dyesol Broadcast.
Dyesol is a global supplier of Dye Solar Cell (DSC) materials, technology and know-how. DSC is a photovoltaic technology enabling metal, glass and polymeric based products in the building, transport and electronics sectors to generate energy and improve energy efficiency. Dyesol partners with leading multinational companies who possess significant market share and established routes-to-market. The company is listed on the Australian Stock Exchange (DYE), the German Open Market (D5I), and is trading on the OTCBB (DYSOY) through its depositary BNY Mellon. Learn more: www.dyesol.com Subscribe to Mailing List and eNewsletter here.
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. 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.
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Dyesol Brand Manager
Tel: +61 (0)2 6299 1592
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