Dyesol Limited (DYE) and Umicore AG & Co. KG have signed a Letter of Intent (LOI) and entered negotiations to establish a business alliance covering the development, production and marketing of high quality, industrial scale 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 sales of EU 1.7 billion in 2009 (EU 6.9 billion, including metals trading), is a global materials technology group and a world leader in precious metals chemistry. Dyesol is the global 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 targets signing a definitive agreement by the end of calendar 2010.
Richard Caldwell, Executive Chairman of Dyesol said: “The partnership with Umicore is an important step in establishing a robust supply chain for Dyesol and its multi-national partners. We once again ally ourselves with a world leader, with deep technological understanding and excellent manufacturing skills. The LOI covers Umicore providing scale and consistency to large volumes of dye while Dyesol will be able to remain focused on our mission: to establish partnerships with global market leaders where our integrated understanding of the DSC adds significant value to our partners’ core product lines resulting in high volume sales of DSC materials.”
Dyesol (DYE) manufactures and supplies a range of dye solar cell products comprising equipment, chemicals, materials, components and related services to researchers and manufacturers of DSC. The Company is playing a role in taking this third generation solar technology out of the laboratory and into the community. Umicore is a materials technology group. It focuses on application areas where it knows its expertise in materials science, chemistry and metallurgy can make a real difference. Umicore generates approximately 50% of its revenues and spends approximately 80% of its R&D budget in the area of clean technology, such as emission control catalysts, materials for rechargeable batteries and photovoltaics, fuel cells, and precious metals recycling. Umicore’s overriding goal of sustainable value creation is based on this ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.
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