DGAP-News: Dyesol Limited: Tasnee Enters Strategic Investment Agreement with Dyesol

DGAPDGAP-News: Dyesol Limited / Key word(s): Investment/AgreementDyesol Limited: Tasnee Enters Strategic Investment Agreement withDyesol28.02.2013 / 09:08---------------------------------------------------------------------Queanbeyan, Australia - 28 February 2013 - Saudi Arabian industrial giant,The National Industrialization Company of Saudi Arabia, better known asTasnee, has invested AUD $4 million in Australian clean energy company,Dyesol Limited (ASX: DYE), by way of a 15 month redeemable loan note,convertible into Dyesol shares at 16.6 cents per share, with a 0% coupon(as is required by Saudi Arabian law).During an initial 6 month exclusivity period, Tasnee and Dyesol willdiscuss a number of partnership and investment possibilities, focusing onR&D collaboration, large-scale production share, potential demonstrationprojects in the Middle East and, importantly, further investment up to atotal of A$20 million.Tasnee is a $5 billion diversified industrials company listed on the SaudiArabian Stock Exchange and the world's second largest producer of titaniumdioxide. It is strongly vertically integrated and owns several titaniummines in Australia, principally through its acquisition of Bemax Resources.Its subsidiary, Cristal has been working with Dyesol UK since 2009 todevelop nano-titania for use in Dyesol's major steel project with TataSteel Europe in the UK. Nano-titania is a semi-conductor and a key materialin manufacture of DSC photovoltaic solar cells.Dyesol is a global leader in the field of Dye Solar Cell (DSC) technology.DSC is a third generation photovoltaic technology often referred to as'artificial photosynthesis' due to the way the thin layers of key materials- including the semi-conductor titanium dioxide layer - generate renewableenergy from sunlight, shady light, dappled light or even indoor lighting.Under the Subscription Agreement, Tasnee will have the right to invest upto a total of A$20 million in Dyesol during the exclusivity period at 18cents per share. To the extent that investment is beyond 20% ownership inDyesol and/or exceeds capacity under ASX Listing Rule 7.1, the strategicinvestment will require shareholder approval as required by theCorporations Act and the ASX Listing Rules, respectively.As promised to existing Dyesol shareholders at the 2012 AGM, the Companywill conduct a Share Purchase Plan (SPP) at 16.6 cents per share to raise afurther A$2 million to participate in investment alongside Tasnee. Inaddition, Dyesol has investigated other non-dilutionary funding options inrecent months, including Government clean energy funding programs, whichwill mean it is confident of fulfilling all its funding obligations inmajor projects during 2013 and beyond.Dr. Talal Bin Ali Al-Shair, Cristal's Chairman and CEO, commented:'We are so passionate about titanium - from mining to pigments to specialtychemicals and beyond. Titanium is at the heart of all we do, and thisstrategic investment in Dyesol marks our commitment to pioneeringinnovation, constant product and process improvement, and our leading rolein contributing to creating a brighter and cleaner world.'Mr Richard Caldwell, Dyesol Executive Chairman welcomed the investment byTasnee:'Tasnee has demonstrated great commitment to the successfulcommercialisation of our Dye Solar Cell technology, both throughparticipation in long-term R&D programmes and now through its expression ofintent by investment in a convertible note. Tasnee has a very strongbalance sheet and interest to diversify its activities into renewableenergy. Dyesol looks forward to exploring mutually beneficialopportunities.'About TasneeTasnee (also known as The National Industrialization Company of SaudiArabia) is the second largest industrial company in Saudi Arabia and thesecond largest producer of titanium dioxide in the world. It wasestablished in 1985 as Saudi Arabia's first joint-stock industrial companyfully owned by the private sector. Tasnee erects, manages, operates andowns petrochemical, chemical, plastic, engineering and metal projects andprovides industrial services and markets its products through five majorsectors. In the chemicals sector, Tasnee operations include thesubsidiary, Cristal, also known as the National Titanium Dioxide Company.www.tasnee.comAbout CristalCristal is the world's second-largest producer of titanium dioxide and aleading producer of titanium chemicals. Cristal is the world's leadingsupplier of ultrafine titanium dioxide products and titanium chemicals andis a fast-growing producer of mineral sands and titanium metal powder. Byincreasing our global presence, staying in the forefront of new titaniumtechnologies, protecting the environment, and giving back to thecommunities where we work, Cristal strives to be a model corporate citizenand a name synonymous with the benefits of titanium products.www.cristal.comAbout Dyesol LimitedDyesol is a global supplier of Dye Solar Cell (DSC) materials, technologyand know-how. DSC is a photovoltaic technology enabling metal, glass andpolymeric based products in the building, transport and electronics sectorsto generate energy and improve energy efficiency. Dyesol partners withleading multinational companies who possess significant market share andestablished routes-to-market. The company is listed on the AustralianStock Exchange (DYE), the German Open Market (D5I.F), and is trading on theOTCQX (DYSOY) through its depositary BNY Mellon. www.dyesol.comMedia & Investor Relations Contacts:Germany & Europe: Eva Reuter, DR Reuter Investor Relations Tel: +49 177605 8804, e.reuter@dr-reuter.euDyesol Headquarters: Angela Geary, Dyesol Brand Manager Tel: +61 (0)26299 1592, ageary@dyesol.comAustralia: Viv Hardy, Callidus PR Tel: +61(0)2 9283 4113 or +61 (0)411208 951End of Corporate News---------------------------------------------------------------------28.02.2013 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------202604 28.02.2013