Solar cell company in race for energy deals

Canberra Times
Friday 26/6/2009 Page: 2

Applied to the non-transparent facade of a building such as Woden's Lovett Tower, Dyesol technology could provide between 50 and 100% of the building's electricity needs, according to its proponents. The dye solar cell technology, developed by a Swiss scientist who created artificial photosynthesis, is spreading around the world, with steel and glass manufacturers testing its capabilities for buildings.

The main focus is on powering huge warehouses and factories, but dye solar cells have numerous applications, from lighting marine buoys to powering car computer systems in low light. Its technology was seized upon by the Australian Government more than a decade ago, and its commercialisation is being managed from headquarters in Queanbeyan.

But, for now, it won't power the Lovett Tower or catapult Canberra to the forefront of the clean energy industry. Instead, Dyesol is spreading its wings overseas and wants to lead the solar industry with dye solar cell technology. On the brink of commercialising in the Britain, Dyesol has also signed a $1 million deal with a subsidiary of Asian oil and gas titan Petronas.

The company has raised $9.4 million in share placement and purchase schemes over the past six months to hasten commercialisation and establish in the United States. Scientists Sylvia and Gavin Tulloch founded Dyesol, which listed on the Australian Stock Exchange in 2005.

After spending $30 Trillion on research and development and commercialisation, the company is now in a race with rival solar technologies to sign leading energy partners. Mrs Tulloch said all progressive energy companies, such as Petronas, were looking for solar technologies. "Signing with one is like dancing with giants, except this one is easier because of its relationship with Australia."

Dyesol is yet to be proven commercially, is years away from paying a dividend and its stock holding is so insignificant sharemarket analysts won't comment on its performance. But the company is spreading swiftly with partnerships in Italy, Switzerland, Europe, Korea and representatives in Japan, Taiwan, Abu Dhabi and New Zealand. Its Australian chief executive is former head of Australian Capital Tourism Ross MacDiarmid.