Dyesol Ltd (
Final Quarter Highlights
- Quarterly Milestone of 10% Strip-Cell Efficiency Exceeded for All Carbon Designs
- Perovskite Solar Cell (PSC) Stability Demonstrated in EPFL Testing
- Dyesol Partners with Solliance to Further Advance Steel Based Products
- Advanced Estimate for FY2015 R&D Tax Rebate at A$3.2 million (due Sep. 2015)
Corporate and Operational
The FY2016 budgeting process for our global activities is complete and has received board approval.
Dyesol headcount is expected to remain constant over the period.
Principal FY2016 research, development and commercialisation activities include:
1. The Solliance collaboration in Eindhoven, The Netherlands focusing on PSC enabled steel;
2. Transfer of laser-assisted, glass-frit sealing technology from University Porto, Portugal;
3. Major Area Demonstration project focusing on commercial scale demonstration panels;
4. Core R&D, in particular stability testing on larger scale devices and investigation into lead-free perovskites; and
5. Pilot line planning and preparation for glass substrate products in key global sites.
The Major Area Demonstration (MAD) project remains a key commercialisation step for Dyesol. Recently, we have conducted a local and global "beauty parade" and have identified some excellent possible engineering solution providers to ensure physical up-scale is underpinned by world's engineering best practice. Collaboration discussions have commenced with a number of important potential engineering companies. Precision capital equipment and process integration are capabilities and skills essential for scale-up to mass manufacture.
We strongly believe that the successful completion of the project, scheduled for end-2016, will be a very significant commercial validation marker for PSC technology. In turn, we believe this should translate into a significant re-rating of the technology and company's prospects. Commercial size MAD panels will be used for testing, accreditation and showcasing the PSC technology globally as the critical step prior to mass manufacture.
Research and Development
Since the commencement of CY2014 Dyesol has reported quarterly technical milestones as independently corroborated by the Technology Advisory Board, chaired by Professor Michael Grätzel, and including, Dr Rob McIntyre, Dr Damion Milliken CTO and Dr Hans Desilvestro Chief Scientist.
We are delighted to confirm that Dyesol has now achieved its 6th consecutive and successful technical milestone. This is particularly gratifying as it represents strong industrial efficiencies at the strip-cell scale of >10% using the stable, low-temperature carbon and porous carbon designs. Dyesol continues to develop in parallel cell architectures using both organic and inorganic hole-transport-materials in order to optimise designs in terms of efficiency and stability.
PSC PV represents a very significant challenge to incumbent solar photovoltaic technologies because of its low-cost and application versatility. Dyesol believes that this technology can deliver electricity at below current conventional prices, without the need for government support or grants to the consumer, thereby making the mass uptake of solar as the renewable of choice inevitable. It believes it can make an important contribution to achieving a 50% RET by 2030 in Australia and globally.
Manufacturing and Technical Collaborations
Establishing an industrial partnership with Solliance has provided very significant impetus to Dyesol's steel substrate activities in U.K. and Europe. Access to sophisticated capital equipment at a fraction of its replacement cost will allow Dyesol to validate key roll-to-roll process (R2R) steps necessary for the PSC enablement of coil-coated steel. In particular, these product critical steps relate to cell encapsulation and cell architecture. The nature of the arrangement allows Dyesol to preserve its core background IP and gain access to newly created IP within Solliance. Other Solliance industrial partners include building material giants such as VDL and Thyssen Krupp. Dyesol remains at the forefront globally of this exciting renewable energy development.
The net operating monthly cash burn (Sec 1.8) for the final quarter average $853k, and the YTD monthly average was $636k including the $2.5m receipt for the FY2014 R&D Tax Incentive rebate.
At the end of the quarter cash balances totalled $5.4m. The current estimate for the FY2015 R&D Tax Rebate due September 2015 is A$3.2 million.
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About Greatcell Solar Limited
Greatcell Solar Limited (ASX:GSL) (OTCMKTS:DYSOY) is a global leader in the development and commercialisation of Perovskite Solar Cell (PSC) technology – 3rd Generation photovoltaic technology that can be applied to glass, metal, polymers or cement. Greatcell Solar Limited manufactures and supplies high performance materials and is focussed on the successful commercialisation of PSC photovoltaics. It is a publicly listed company: Australian Securities Exchange ASX (GSL) and German Open Market (D5I). Learn more at www.greatcellsolar.com and subscribe to our mailing list in English and German.
Tel: +61 (02) 6299 1592
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