At a general meeting of Dyesol shareholders held at headquarters in Queanbeyan on Friday, June 9 a special resolution to change the name of the Company from Dyesol Limited to Greatcell Solar Limited was approved.
According to the announcement the name change is much more than just cosmetic, it is a new direction for the company in terms of both technology and business generation.
The Dyesol board considers the timing of this rebranding as highly appropriate. The new name signifies a new era of commercial opportunity and is more appropriate for the company's focus on 3rd generation solar PV technology.
Dyesol added that a change of name leaves all stakeholders' rights and obligations unaffected. It is the same for the Company. Importantly, the registration details of the company and its subsidiaries are unchanged and we will retain our Australian Company Number, for example.
If a shareholder held 20,000 shares in Dyesol Limited this week, then they will hold 20,000 shares in Greatcell Solar Limited next week and this will not trigger any legal, tax or financial implications. The number of shares on issue will be unchanged.
The website is also in the advanced stages of being significantly upgraded and renamed to www.greatcellsolar.com (not available yet). The old website www.dyesol.com will remain in effect for a sensible transition period.
The trademark Greatcell Solar has been reserved in all important jurisdictions and is available for implementation.
The indicative timetable is that the new name will be formalised by ASIC on June 21 and recognised by ASX on June 26.
Greatcell Solar Limited will trade under the new ASX ticker, GSL. However, the ticker for the German Bourse will remain the same : D5I.
In a questions and answer session organised by Dyesol Richard Caldwell, Managing Director, provided the following
What is the background of changing the name from Dyesol to Greatcell Solar Ltd.?
The change of name effectively signifies two important developments:
- That our technology has evolved and that dye solar cells (DSC) have been superseded by perovskite solar cell (PSC) technology. This is a more robust and competitive technology and the reference to dye solar cells is now a misnomer. DSC and PSC are subsets of the broader emerging technology class known as 3rd generation photovoltaics. Greatcell Solar as a name is more generic, allows us to position ourselves as world-leading, hitech solar, and pays homage to the inventor of the technology, the eponymous, Professor Michael Grätzel.
- Dyesol is no longer a solar R&D company, but a company keenly focused on the commercial exploitation of technology it has invested in for over a decade. It represents a new era in the company’s evolution.
Is Building Integrated Photovoltaic (BIPV) still a target market for Dyesol? If so, will Dyesol use single solar modules or tandem solar modules?
PSC is a truly disruptive technology and does not require the assistance of silicon based technology to enter the market place. BIPV is the ultimate market target for this technology and we will arrive there as fast as prudent product risk management will allow. Tandem cells are an academic distraction and we do not see a significant commercial role for tandems in the foreseeable future.
The Production on Glass should start in 2018. Will Dyesol be able to realize that and who might be the first customers?
Dyesol is currently working towards pilot line development as fast as its resources will allow. That will be followed by scale-up to mass manufacture for glass substrate products. Flexible products i.e. metal based, are expected to follow in the following year. There are exciting business development possibilities currently in negotiation in Australia, Turkey and China. Our market entry strategy is confidential.
Source: Dyesol / Greatcell Solar
