After successfully raising capital recently, Australian nanotechnology and clean energy pioneer, Dyesol
Limited has agreed to buy back the remainder of the convertible notes held by Bergen Global Opportunity Fund LP.
Dyesol Chairman Richard Caldwell explains that the buyback will further relieve downwards pressure on the Company's share price and allow it to recover to a level that better reflects Dyesol's outstanding prospects.
Mr Caldwell continues that Dyesol’s strategy of commercialising DSC for the global Building Integrated Photovoltaic market remains sound in spite of the turmoil in global markets. So does the quality of Dyesol’s Dye Solar Cell (DSC) technology, especially in relation to its comparative performance against Gen 1 and Gen 2 products in key markets in Europe, North America and Asia.
Dyesol’s third generation DSC technology has lower embodied energy in manufacture than traditional silicon solar cells and produces electricity well in low light, real world conditions such as cloudy days, hazy or polluted days, dawn and dusk, not just at peak sun at noon on a sunny day.
According to Mr Caldwell, DSC is a great technology and a truly sustainable choice for the renewable energy sector. DSC enabled steel roofing or windows will be an excellent choice for those wanting to reduce the energy footprint of their buildings.