Dyesol, CSIRO Collaborate On Higher Performing Materials

Dyesol, a world leader in the commercialization of dye solar cell (DSC) technology, and CSIRO announced completion of transaction documents for a collaboration to develop higher performing dyes in a two-year project that will be funded by an investment of up to $1.17 million from CSIRO’s Australian Growth Partnership (AGP) program.

Under the terms of the collaboration, Dyesol will project manage a specialized team of experienced scientists from CSIRO to work with the company on an agreed development program leveraging Dyesol’s knowledge of ruthenium-based dyes and CSIRO’s modeling 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 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.

“This project builds on the foundations of Dyesol’s commercialization strategy in which partnerships with global companies such as CORUS (Tata Steel) and the collaboration with Pilkington NA, are complemented by programs with technology leaders like the CSIRO providing us both with access to valuable IP in higher performing materials as well as powerful access to high value markets,” David Bundy, Dyesol Australia’s acting CEO, said.

The transaction involves 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.