Dyesol Signs Letter of Intent with Tata Steel

Dyesol signed a landmark agreement with Tata Steel UK. The agreement will play a critical role in Dyesol creating a commercial base in the UK to develop, manufacture and distribute its revolutionary solid-state DSC technology.

The proposed distribution agreement with Tata Steel UK (TSUK) provides Dyesol with a first right of refusal to distribute its proposed steel substrate-based third generation photovoltaic products through TSUK’s extensive product distribution channels in order to meet its commercial objective of bringing building integrated photovoltaics (BIPV) to the UK and European markets.

The agreement has a term of five years and provides Dyesol with priority to exploit TSUK’s extensive distribution network should Dyesol develop a viable product and TSUK decide that solar PV meets its strategic objectives. The agreement does not impose exclusivity upon Dyesol and it is free to explore other avenues of distribution, particularly in markets where TSUK does not have a meaningful presence. The terms of this letter of intent are commercial-in-confidence. Dyesol and TSUK have agreed that the details of a distribution agreement, including any warranty provisions, will be determined at the time of entering a binding distribution agreement.

Dyesol looks forward to working closely with TSUK and thanks the ongoing assistance and vision of both the UK and Welsh governments to develop a multi-billion pound solar industry.

“We are extremely encouraged by the latest commercial developments in the UK,” said Richard Caldwell, managing director of Dyesol. “Dyesol and Tata Steel have forged a close working relationship over the past seven years, and Dyesol looks forward to realizing its vision of bringing third generation PV to the UK and European markets. This technology is versatile and the possibilities for commercialization are vast.”

Dyesol’s milestone-based technology development plan is currently on schedule. Key targets are the development of large area prototypes by 2016, pilot line production by 2017 and mass production by 2018. Glass followed by steel are its preferred substrates, allowing access to almost the entire building envelope. Dyesol is currently revising its business plan to include the latest developments. Very significantly, Dyesol expects its revised product range to address opportunities in both free standing and BIPV installations. It is currently conducting detailed cost analysis, but expects its solid-state DSC technology to compete very favorably with poly and mono crystalline silicon, especially in low light climates, thereby adding very substantially to its commercial potential.

The advent of solid-state DSC which utilizes an exciting class of sensitizer compounds known as perovskites has provided the 3rd Generation of PV with a competitive edge in terms of lowering costs and enhancing durability or product life. Dyesol intends to inform the market of its detailed competitive levelized cost of electricity (LCOE) analysis once it is complete and validated.