Dyesol Limited
Annual General Meeting 29 November 2010 2010 Performance Review 2010 Performance Review
• Dyesol commenced FY2010 with A$13.3M and concluded it with A$13.1M • Cash burn for existing operations = A$800k/month • Revenue from continuing operations +21% YOY • No debt/ all outstanding director loans repaid • World class glass project in pipeline A$12 M placement to global institutions • 3 Share Price FY2010
Dyesol +21.5% versus ASX 200 +11% for FY2010 4 Organisational structure New Organisational Structure
Board Of Directors
Company Secretary
Chief Director of Executive Technology Officer
Flexibles Research Dyesol Finance & Pilkington/ & Australia Sales and Tata/ Technology & CSO Materials Glass Development Operations Marketing Metals Committee Accounting Supply Manager Manager
6 New Organisational Structure
• Developed to service partnership model • Achieves better communication and project co- ordination i.e. “One Dyesol” • Costs more aligned with value creation • Core R&D function focuses on next generation technology for major projects and IP capture • Non core R&D distributed for access to international expertise and risk sharing
7 International Subsidiaries
Dyesol Limited (ASX:DYE or GR:D5I)
Dyesol Industries Pty Ltd
Dyesol Dyesol Dyesol Dyesol Greatcell Dyesol- Dyesol Dyesol Dyesol Inc. Automotive Japan UK Italia Solar Timo East Asia Australia Bavaria
8 International Subsidiaries
• Cost & revenues accountable under Dyesol Limited approved budgets • Main board directors represented on all local subsidiaries • Dyesol Industries owns the pioneer EPFL licence and newly created IP typically held at the subsidiary level • Subsidiaries provide significantly improved access to national and supra-national grant monies e.g. the Dyesol Tata PV Accelerator has been financially assisted by the Welsh Assembly Government
9 Products and partners Products and Partners
• Tata Steel Europe • Pilkington • Auto
11 Tata Steel Europe
Typical Coil Coating line Corus Colourcoat Vast Colourcoat Roof
• Beta phase (scale-up) commenced • Confirmation of full commercialisation expected in 3QFY10 • Retrofit opportunity = 95%+ of built environment • Addressable market > 1Billion m2 12 Pilkington
• 50/50 joint venture primed to commence in 3QFY10 – seeking access to State and Federal grant monies • Master licensee model where Dyesol & Pilkington have global exclusive materials supply rights for DSC materials and TCO glass respectively 13 Automotive
• DSC set to supplement battery powered vehicles for short journey market • DSC has the ability to ultimately address the entire auto envelope • SureVolt can be leveraged into the non-auto market e.g. BAPV or blinds in buildings – significantly expanding the built market opportunity
14 Strategy Update Strategy Update
• Confident = More execution less new business development • Focused = Investment case for full commercialisation underway • Sustainable = fiscal disciplines in place to contain cost and maximise long-term revenues • Core R&D, Next Generation Technology & Materials Supply
16 Outlook Awards 2009-2010
• Dyesol was awarded the New Energy Pioneer 2010, Bloomberg New Energy Finance Summit
• Winner of The ACT Chief Minister Export Awards – Small to Medium Manufacturers Award
• 2009 Ethical Investor Sustainable Small Company of the Year Award • Professor Michael Graetzel wins the world’s top technology award for 2010 18 Key Milestones for FY2011
• Confirmation of Tata investment in global commercialisation of DSC on steel • Confirmation of tripartite funding for global Pilkington glass program • Confirmation of SureVolt program for auto and related BAPV opportunities • Security of Materials Supply
19 Resolutions Resolutions
Total Proxy's Appointed proxy
Resolution Shares For Against Abstain Discretion Chairman ASA Dr Tulloch S Tulloch
1 Adoption of Remuneration Report 28,923,230 4,529,153 204,262 70,750 24,119,065 5,296,845 84,750 160,500 23,381,135
Re-election of Director - Mr Richard 2 Caldwell 28,923,230 4,544,765 217,500 44,000 24,116,965 5,296,845 84,750 160,500 23,381,135
Re-election of Director - Dr Gavin 3 Tulloch 28,923,230 2,395,564 22,436 69,500 26,435,730 5,296,845 84,750 160,500 23,381,135
Ratification of Previous Issue of 4 Shares 28,923,230 4,596,655 163,760 43,750 24,119,065 5,296,845 84,750 160,500 23,381,135
Issue of Options to Mr Gordon 5 Thompson 28,923,230 1,895,169 596,084 2,315,012 24,116,965 5,296,845 84,750 160,500 23,381,135
6 Issue of Options to Mr Ian Neal 28,923,230 4,049,184 596,084 160,997 24,116,965 5,296,845 84,750 160,500 23,381,135
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