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In light of its recent successful capital raising, Australian nanotechnology and clean energy pioneer, Dyesol Limited (ASX: DYE, OTCQX: DYSOY, FWB: D5I.F), has agreed with Bergen Global Opportunity Fund LP to buy back the remainder of the convertible notes Bergen holds.
Dyesol will pay a total of AUD $326,062, representing the face value of the notes plus a 10% premium.
"We believe this action will further relieve downwards pressure on the Company's share price and allow it to recover to a level that better reflects Dyesol's outstanding prospects." said Dyesol Chairman Richard Caldwell.
"While there has been unprecedented turmoil in global markets, Dyesol's strategy of commercialising DSC for the global Building Integrated Photovoltaic market remains sound - as does the quality of our Dye Solar Cell (DSC) technology, especially in relation to its comparative performance against Gen 1 and Gen 2 products in key markets in Europe, North America and Asia." Mr. Caldwell continued.
Dyesol's third generation Dye Solar Cell (DSC) technology has lower embodied energy in manufacture than traditional silicon solar cells and produces electricity well in low light, real world conditions such as cloudy days, hazy or polluted days, dawn and dusk - not just at peak sun at noon on a sunny day.
"DSC is great technology and a truly sustainable choice for the renewable energy sector." Mr. Caldwell said.
"For those wanting to reduce the energy footprint of their buildings, DSC enabled steel roofing or windows will be an excellent choice."
About Dyesol Ltd
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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