Dyesol raises $8.1M to further develop solar tech
Dyesol Limited (ASX:DYE) announced yesterday that it had completed a capital raising of $8.1 million, with the funds to go towards the further development and commercialisation of Perovskite Solar Cells (PSC).
Perovskite is a third generation photovoltaic technology that can be applied to glass, metal, polymers or cement and is vital in the advancement of solar technology as it offers lower cost, better versatility and has the ability to outperform silicon solar panels in low light conditions.
This technology can be directly integrated into the building envelope to achieve highly competitive building integrated PV technology.
The capital raising comes on the back of funding granted by the Australian Renewable Energy Agency (ARENA), which will play a further role in helping Dyesol hit its key performance targets early in 2016.
The funding means Dyesol’s technology development and business activity plans are on track and the company is confident that significant progress will be made to demonstrate that their third generation solar technology can meet the challenges of transitioning to a renewable energy-based global economy.