Australian Clean-Tech Company Dyesol to Benefit from R&D Tax Scheme
June 28 2012 - 6:30PM
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.
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.
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