Australian Clean-Tech Company Dyesol to Benefit from R&D Tax Scheme

QUEANBEYAN, Australia--(BUSINESS WIRE)--Australian "clean-tech" innovator and Dye Solar Cell industry leader, Dyesol Limited (ASX: DYE) (OTCQX: DYSOY) (FWB: D5I) is poised to benefit from the Australian Government’s R&D (research and development) tax incentive with a tax rebate estimated at around AUD $3 million to be received within the next few months.

“A rebate from the Australian Government of around $3 million from the R&D tax incentive – which will be received within the next few months – is a huge support for a young, clean energy company like Dyesol”

Dyesol operates a globally integrated R&D effort focused on commercialising the solar industry’s third generation, biomimetic nanotechnology called Dye Solar Cells.

Crossover of Dyesol’s scientific and process engineering R&D activities within regional projects in Australia, the US, Japan, South Korea, and the UK, is a key element in the Company’s collaborative global approach.

The Australian Government’s new R&D tax incentive replaced the R&D tax concession for years starting on or after 1 July 2011. It provides R&D tax offsets to encourage more companies to engage in R&D.

The R&D tax incentive provides a 45% refundable tax offset for eligible R&D entities, and for the first time, R&D work carried out overseas may also be included.

"A rebate from the Australian Government of around $3 million from the R&D tax incentive – which will be received within the next few months – is a huge support for a young, clean energy company like Dyesol," said R&D Manager, Damion Milliken.

"R&D work for a new technology can be very expensive and requires an investment of time as well as money. The fact that the Australian Government is recognising this and helping us reach our goal of commercialising third generation Dye Solar Cell technology for the building integrated photovoltaics mass-market is a big deal for us."

Dyesol’s key projects are for DSC enabled steel roofing and DSC enabled glass – both target the building integrated photovoltaics (BIPV) market. DSC technology is a good match for the BIPV market because the technology works well in low light conditions such as cloudy/hazy days, winter, shade, at dawn and dusk, and is less sensitive to the angle of incidence of light than other solar technologies, so it can be applied vertically to building facades in dense, shaded urban environments.

About Dyesol Limited

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.F), and is trading on the OTCQX (DYSOY) through its depositary BNY Mellon. Learn more: www.dyesol.com Subscribe to Mailing List and eNewsletter here.

About 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.