Dyesol Limited (ASX: DYE) and Umicore (UMICF.PK) have signed a Letter of Intent (LOI) to establish a business alliance for the development, production and marketing of Ruthenium-based dyes, as well as other potentially relevant metal-based chemicals, for the global dye solar cell (DSC) market.
This is the next step in Dyesol’s strategy to partner with global corporations for commercialisation of DSC technology. This is also complementary to Umicore´s focus on providing metal based materials and solutions for production of green energy.
Umicore, with revenues of EUR 1.7 billion in 2009 (EUR 6.9 billion, including metals trading), is a global materials technology group and a world leader in precious metals chemistry. Dyesol is a leader in DSC technology.
The scope of the collaboration will cover joint marketing, research and development, commercial scale production and metal supply and recovery. The LOI discusses signing a definitive agreement by the end of calendar 2010.
As with the collaboration for development of electrolytes with Merck, Dyesol has now found a reliable supply partner for the large scale manufacturing of dyes, a crucial component of the DSC pioneered by Professor Michael Graetzel of the Ecole Polytechnique Federale de Lausanne, Switzerland. Professor Graetzel was awarded the Millennium Prize, the world’s largest technology prize, for his continuing work in DSC in 2010.
Matthias Grehl, Umicore’s Vice-President Precious Metals Chemistry commented: “Together with Dyesol we can present a formidable team. Dyesol’s holistic understanding of DSC and cutting edge DSC research will point the way to new metal-based dye markets. Umicore’s scale-up and manufacturing expertise can ensure that consistent quality and low cost at high volumes are achieved quickly.”
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 many times stronger than that found in natural photosynthesis in plants. Compared to conventional silicon based photovoltaic technology, Dyesol’s technology is said to have 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.
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