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Dyesol May eNewsletter

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May 2014 Dyesol eNewsletter

In this Issue:

New labs in Lausanne established

Demand for Dyesol products continues to grow

New faces at Dyesol

BIPV market continues to climb

Strengthening ties with Tasnee

ARENA funding critical for emerging renewable technologies

Announcements and news


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Dear Valued Shareholders,

This month Dyesol is pleased to re-launch your bi-monthly newsletter.

It has been some time since the last edition and by way of explanation, behind the scenes we have been working hard to re-establish Dyesol’s Investor Relations (IR) team, and this month I am pleased to introduce myself as your new IR contact.

I have more than 14 years marketing experience, gained largely from the energy sector where I managed marketing campaigns and strategic projects. In the coming months I will be reinvigorating Dyesol’s shareholder communications, including introducing new ways for you to keep in touch with what’s happening at Dyesol.

It has been a busy time, with Dyesol’s latest market releases including changes to the Board and Management. Richard Caldwell has accepted the position of Managing Director, Ian Neal has been appointed Chairman, and Tony Shirfan has joined the Board.

Importantly, you will be pleased to hear that Dyesol is performing well internally, especially in relation to the scale-up of solid-state dye solar cell (ssDSC) technology. Later in the newsletter, we introduce new team members who are excited by the potential of this technology and contributing to Dyesol’s work.

Our team is truly global with members working in different locations around the globe to improve durability, performance and work towards technical milestones. To further progress this work, Dr. Hans Desilvestro is establishing labs in Switzerland to lead a small team of materials scientists to develop new generation technology for integration into ssDSC. This will ensure Dyesol continues to be at the forefront of materials and technology development.

Since the introduction of the new product catalogue, the sale of Dyesol’s liquid and solid-state materials continues to increase and, while not our main focus, the products available remain consistently popular with researchers. Our online sales platform receives orders around the clock ensuring prompt despatch from our warehouse to labs around the world. Our most popular product continues to be the 18NR-T Transparent Titania Paste and this product, along with a new range, will be promoted at the HOPV conference in Lausanne this week.

 Read on for information about Dyesol’s work, our team, and how you can keep in touch with what’s happening.

Kathryn Denby
Investor Relations
Dyesol Ltd

Mail:  3 Dominion Pl, Queanbeyan, NSW 2620 Australia
Phone: +61 2 6299 1592
Email: kdenby@dyesol.com

New Labs in Lausanne established

New generation photovoltaic materials and their integration into ssDSC devices are a step closer with the establishment of new industrial research and development (R&D) labs in Lausanne.

Greatcell Solar SA (GSA) is a member of the Dyesol group of companies and has a long history of DSC development under licence from the École Polytechnique Fédérale de Lausanne (EPFL), the Swiss Institute of Technology in Lausanne.Lausanne

Recently, Dr. Hans Desilvestro, Dyesol’s chief scientist, who in 1985 laid some of the cornerstones for DSC, moved to GSA in Lausanne to build up laboratories and to direct a small team of materials scientists and technologists towards development of new generation photovoltaic materials and their integration into ssDSC devices.

GSA is located in the Science Park on the site of EPFL. Hans and his team are closely collaborating with Prof. Michael Grätzel, the inventor of the dye solar cell and Chairman of Dyesol’s Technical Advisory Board.

Industrial R&D laboratories are presently being set up featuring a full set of equipment for deposition of materials in the range of nanometers to many micrometers, cell assembly and characterisation, in particular an industrial-size screen printer, spray pyrolysis equipment, sintering furnaces, a spin coater and a glove box with four working areas for cell assembly and testing.

Since completely novel materials with unknown chemical stability, such as under atmospheric oxygen and/or humidity, will be investigated, stringent environmental control is required initially in order to distinguish between potentially well performing photovoltaic materials with yet limited stability and inherently poorly performing materials.

Ultimately, the goal is to optimise materials for high performance and high chemical stability. Additionally, various light options are available for cell assembly: daylight, fluorescent light or RGB (red/green/blue) LED lighting. Red lighting may be required for components which are sensitive to photochemical degradation prior to full cell assembly.

We look forward to sharing more information about the exciting work being undertaken by Hans and his team in future editions of your Dyesol newsletter.

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Demand for Dyesol materials continues to grow

With new products on the horizon, Dr. Luca Sorbello, Dyesol’s global Sales and Marketing Manager, provides an update on the global demand for Dyesol materials. He reflects on developments in 2013, and explains how they have influenced the materials Dyesol has recently developed for sale.

Sales are very important for Dyesol. Not only do they provide an important revenue stream, their uptake continues to firm Dyesol’s position as the leading supplier of DSC materials globally.

Known for the best products, highest quality and prompt service, demand continues to grow. In response, Dyesol’s product range is too.

Luca said, “2013 was a significant year for Dyesol material sales. The closure of the 7th research framework program in Europe (FP7), along with the concurrent emergence of ssDSC technology saw a shift in the types of materials being purchased.”

In January 2014, sales increased off the back of a new set of DSC materials launched. This improved Dyesol’s market position further and sales have doubled month-on-month since. With the addition of ssDSC materials, the first of their kind, Dyesol has a solid foundation for continued growth.

“Our product portfolio is set to expand further with a new set of ssDSC materials being introduced at the Hybrid and Organic Photovoltaics (HOPV) Conference in Lausanne in May. We believe these products will be welcomed by customers and lead to continued growth in sales. It is an exciting month for Dyesol”, Luca explained.

Dyesol continues to improve the e-commerce website allowing customers to purchase products on-line around the clock. This coupled with negotiations underway with major chemical distributors, means Dyesol will soon benefit from new channels to market making products even more accessible globally.

While material and equipment sales are not the core focus of Dyesol’s business, they are proving to be an important and steady source of income. This is reflected in our sales figures, which continue to growth month-on-month.

Luca said, “Forget grams and millilitres, DSC can now be measured in tens of kilos and litres in a single sale. And this trend is increasing!”

Dyesol not only sells top quality materials, first class equipment remains popular. We have worked very hard to renew our catalogue and update it to be in line with the latest technical developments. During May, Dyesol’s new catalogue will be released with brand new machines a feature.

To underpin the introduction of the new catalogue, the sales and marketing business unit has been restructured. Dyesol has rationalised sales offices and has centralised the function to Australia and Italy. Processes have been reviewed and new procedures put in place to increase productivity and efficiency.

Dyesol will be putting these new process improvements to the test at the HOPV Conference in Lausanne this week. It has well over 600 delegates. The Conference is just one of the few events that Dyesol now sponsors, with only the best and most interesting conferences and trade shows now attended by the team.

Luca concluded, “It looks to be a very promising year for Dyesol sales with so much happening in the ssDSC space. I look forward to reporting on our attendance at HOPV and sharing our successes with you in the next edition of the newsletter’.

Luca Sorbello, Sales and Marketing Manager, Dyesol

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New faces at Dyesol

Having an opportunity to research, scale-up and commercialise devices for real world application has attracted the very best talent to Dyesol.

Dyesol employs a diverse team from many nationalities and backgrounds. All are highly skilled with post-graduate qualifications, bright minds, and a passion for their work.Dyesol Team

This multi-disciplinary team is composed of engineers, scientists, chemists, and we are pleased to introduce our newest recruits!

Celeste Choo - Quality Engineer Ph.D.

Celeste joins the Dyesol team to look after Quality Assurance and Control in both R&D and scaling-up activities with a particular focus on larger device manufacturing, and support in equipment / instrumentation maintenance and documentation.

Celeste said, “I am interested in device R&D, and this position provides lots of hands on experience. It’s exciting work and I am pleased with the results in the scaling-up activities so far.”

Kristen Tandy - Device Scientist BSc (Hons I) PhD (submitted)

Kristen’s role involves preparing and characterising solid-state dye sensitized solar cells (ssDSC) and continually improving solar cell performance.

Kristen said, “My position at Dyesol has provided me with an opportunity to focus on making devices for real world applications.”

Alison Barnes - Organometallic/Inorganic Chemist Ph.D.

Alison has recently been employed as an organometallic/inorganic chemist as part of the Dyesol Materials team.  The team’s goal is to develop and commercialise new materials for the use in the emerging area of ssDSC. 

Alison said: “Dyesol offers a challenging and engaging mix of research and development as well as product commercialisation. This is what attracted to me to the position.”

 Picture above from left to right: Alison Barnes, Kristen Tandy and Celeste Choo

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BIPV market continues to climb

The Building Integrated Photovoltaics (BIPV) market continues to grow in volume with a recent Transparency Market Research report forecasting the market to reach 1,152.3 MW (annual installations) globally by 2019.

Building Integrated Photovoltaics (BIPV) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019, which notes Dyesol as an important industry player, observes that annual installations of BIPV are growing at a CAGR of 18.7% from 2013 to 2019 from a base of 343.1 MW in 2012.BIPV

 Product Segments

Analysing the key produce segments of rooftop, curtain wall and BIPV window, the research shows that rooftop is still the largest BIPV segment and accounted for about 67% of the global market share in 2012.

However, due to continuous development in BIPV products such as transparent, insulated and coloured BIPV, the BIPV window segment is likely to become one of the most prominent products by 2019.

At the same time, curtain wall is witnessing increased demand owing to growing applications for commercial purpose and is expected to be the fastest growing product segment over the next five years.

Technology

DSC and OPV technologies are expected to show healthy growth rates over the coming years.

C-Si technology witnessed substantial demand in 2012 and accounted for over 60% of the market share. Supported by low cost, this segment is expected to dominate the technology-based demand in the next few years until 2019.

Commercial end-users account for more than 67% of the total BIPV end-user market with residential and industrial users expected to show healthy growth over the forecast period while still niche segments.

 Geographic Markets

Europe dominated global BIPV market in 2012. With over 41% global market share in terms of annual installations, Europe is one of the leading market shareholders in BIPV with North America accounting for about 27% of the total volume share in 2012.

Global BIPV market witnessed significant growth during the recent past years owing to growing environmental regulations and rising carbon footprints worldwide. Asia Pacific is a lucrative market for commercial development and expansions and is expected to show the healthy growth numbers over the forecast period.

 The full report can be found at http://www.transparencymarketresearch.com/building-integrated-photovoltaics-market.html

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Strengthening ties with Tasnee

Dyesol welcomed Mr Antoine (Tony) Shirfan, to the Board on 2 May, 2014. Tasnee

Tony was nominated for appointment by The National Titanium Dioxide Co. Ltd. (“Tasnee”) of Saudi Arabia. He has previously served as Director of Bemax Resources Ltd. and The National Titanium Dioxide Co Ltd.

Tony has a B.Sc. (Mechanical Engineering) from the American University of Beirut (Lebanon) and a Masters of Mechanical Engineering from the University of Maine, USA. Tony has a long history in successfully developing chemical and mining assets, including working with Tasnee in their global operations and as Managing Director of Bemax Resources, a mineral sands miner formerly listed on the Australian Securities Exchange.

Tony’s appointment will not only strengthen cooperation and communication with strategic investor, Tasnee, his 30 years experience in  project development and company operations will be highly valued by an already experienced Dyesol Board.

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ARENA funding critical for emerging technologies

This week the Australian Federal Government announced its intention to repeal the Australian Renewable Energy Agency Act 2011 and abolish ARENA - returning its function to the Department of Industry.

A significant market failure exists in Australia, with the ability to access risk capital funds extremely limited. ARENA has, in part, bridged this gap, supporting organisations across the entire commercialisation pathway with critical funding to develop their emerging technology.

Dyesol is currently on an aggressive path to commercialisation to secure our market position and gain first-mover advantage in the BIPV global market.

Achieving this objective will not only capture the technology and expertise in Australia, but boost the country’s ability to create jobs and attract and retain highly skilled people.

The economic benefits of manufacturing the new technology in Australia will also open up new export opportunities leading to further economic growth. Importantly, when in commercial production it will not require the subsidies often seen with existing mature technologies. It is expected to be highly grid competitive.

Making a modest investment in emerging disruptive technology in the early stages makes economic sense when the potential advantages to be leveraged include substantial long term and sustainable benefits for Australia.

It is an approach taken by governments across our region and internationally, particularly in Asia and Europe, where they are striving to develop long-term, cost-effective and sustainable solutions to meet global energy demands.

ARENA’s long lens approach aligns with the timeframe that it takes to develop and advance emerging technologies. It was established and funded with certainty and stability via legislation which provides the conditions precedent for capital to market flow.

ARENA’s funding has been critical in bringing new Australian technologies to market. The government should consider the potential of renewable technology, including Dyesol’s, to lead the next wave of national prosperity.

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Announcements and news

Recent Dyesol market announcements

Release of Shares from Voluntary Escrow

Board and Management Changes

Change of Director's Interest Notice

Dyesol Appoints New Director

March 2014 Quarterly Report and Appendix 4C

Dyesol Top 20 Shareholders - 29 April 2014 

In the news

Hear how Dyesol is using state of the art labs in the Australian Microscopy and Microanalysis Research Facility video

Exciting prospects for perovskite solar cells

Research undertaken at the University of Bath in UK has again highlighted the potential of hybrid organic-inorganic perovskite solar cells.

The University’s research suggests perovskite solar cells are an exciting prospect with the potential to be cheap, easy to produce, and efficient. Read the full article here.

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A new era in shareholder communication

In the coming months you will see Dyesol increase the flow of information to shareholders using social media.

We know that you are interested in what’s happening at our headquarters and the progress of many projects and partnerships around the globe. To keep you more immediately informed we have re-established Dyesol’s social media accounts.Dyesol

In addition to this bi-monthly newsletter following us on social media will give you a real-time window into the world of Dyesol.

Use Twitter and follow @dyesol to keep in touch with news as it happens - see photographs, updates, and links to industry news.

Keeping you informed about the important work being undertaken by Dyesol remains a high priority, but what we share also requires careful consideration.

As you know, the challenge with Dyesol’s work is that it is ground-breaking and we have to strike a fine balance between keeping you informed without leaking proprietary or material information. Our new approach aims to achieve this by giving you a view of Dyesol’s operations so you can see for yourself all the hard work being done.

If you have something you would like to share, or suggestions you would like to make please email kdenby@dyesol.com

Keep in touch with social media.

 Website                 Twitter                    Linkedin                YouTube               

Dyesol.com          @dyesol                LinkedIn                DyesolGlobal

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Financial reporting and communication calendarCalendar

In every edition of your bi-monthly newsletter we will provide a snapshot of scheduled newsletters and financial reporting.

Keep an eye on your emails for announcements made in between times, or follow us on Twitter for updates as they happen.







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Feedback

Dyesol’s bi-monthly newsletter is a great way for you to stay in touch with Dyesol. The newsletter aims to keep you informed by featuring key projects, our operations, and the work of our talented team.

Your feedback and suggestions are always welcome, simply email kdenby@dyesol.com with your ideas.

Between newsletters keep up-to-date with announcements, information, and links to informative articles - follow Dyesol on Twitter or join the Dyesol LinkedIn community.

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Investor Relations and Media Contacts

Dyesol Headquarters

Kathryn Denby, Investor Relations Tel:  +61 (0)2 6299 1592,  kdenby@dyesol.com

Australia

Viv Hardy, Callidus PR   Tel: +61(0)2 9283 4113 or +61 (0)411 208 951, viv@calliduspr.com

Germany & Europe

Eva Reuter, DR Reuter Investor Relations   Tel:  +49 177 605 8804, e.reuter@dr-reuter.eu

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