to-the-point Dyesol gets USD-4.7m investment from Tasnee
Mar 3, 2015 16:54 CET
March 3 – Australian solar technology company Dyesol Ltd (ASX:DYE) will receive a new AUD-6-million (USD 4.7m/EUR 4.2m) investment from its 26.25% strategic shareholder, Saudi industrial group Tasnee.
Dyesol, which focuses on the commercialisation of a third generation photovoltaic (PV) technology called solid state dye solar cells (ssDSC), said today that the Saudi group will immediately exercise an existing AUD-6-million investment option. The move will raise Tasnee’s stake in Dyesol to 33.5%.
Tasnee, also known as the National Industrialization Company of Saudi Arabia, extended its investment option by six months in November 2014.
The Saudi company has nominated Rob McIntyre to become a member of Dyesol’s board, the announcement also says.
(AUD 1.0 = USD 0.781/EUR 0.699)
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