5 million funding offer for dsc from wales

Market Release (2 pages) – 12 March 2008

Dyesol accepts $5 Million funding offer for DSC on Steel

Queanbeyan, Australia …….12 March 2008
Dyesol is pleased to announce that Dyesol UK Limited, a wholly owned subsidiary of Dyesol Ltd, has
accepted an offer from the Welsh Assembly Government (WAG) under the SMARTCymru program to
support the Dyesol-Corus joint development project for the application of Dye Solar Cell Photovoltaic
technology (DSC PV) on steel sheeting as part of a continuous manufacturing process.
Globally, there are over a billion square meters of coated steel roofs erected each year providing an
unmatched opportunity for expanding the market for solar electricity generation. Currently, no other
solar technology can be integrated into the coil coating process used to produce colour coated steel
sheets. The nano-paint, overlayed with the sensitizing dye and then the electrolyte, will form a
multilayered DSC structure, applied at high speeds as the steel passes along the coil line.
With rapidly rising energy prices, including oil now soaring above the US$100/barrel mark, and global
focus on climate change, the demand is expanding for buildings with lower imported energy use and a
considerably reduced overall carbon footprint (particularly in the U.K. and Europe with the legislated
requirement for zero energy buildings).
The value of the offer to Dyesol UK is slightly more than £1.7 Million ($A3.72M) over the first two years
and a total of approximately £2.3Million ($A5.04M) over the total project period. This represents a
contribution by WAG of over 50% of forecast project expenditure. It is the catalyst enabling this project
to be rapidly accelerated in Wales, and is a major building block in the international growth of Dyesol.
The Dyesol and Corus teams have just completed a week long detailed project planning meeting at
Dyesol headquarters in Queanbeyan. The project will commence formally in the UK on 1st May.
Dyesol’s team in Australia has been fully committed to the accelerated project since successful
completion of the first phase in December 2007.

Sylvia Tulloch
Managing Director