Market Release (2 pages) – 31 Janurary 2011

DyeTec wins Ohio State Development Grant

DyeTec Solar Inc., a joint venture involving Dyesol Inc. (DYE), a wholly owned subsidiary of Dyesol Ltd.
announced today that it will receive a US$1 million Ohio Third Frontier Commission grant to develop
technology for mass manufacture of glass based BIPV (Building Integrated Photovoltaic’s), BAPV
(Building Applied Photovoltaic’s) and AIPV (Automotive Integrated Photovoltaic’s) products.

DyeTec’s technology is designed to utilise optimised Transparent Conductive Oxide (TCO) glass and
Dye Solar Cell (DSC) materials manufactured by the JV partners, and enables downstream suppliers in
the glass market to mass produce high performing DSC – TCO glass based products for use in BIPV,
BAPV and AIPV environments. Initial DyeTec efforts will result in the development of prototype DSC
based BIPV glass panels and related equipment sets, laying the foundation for future high volume
manufacturing capability.

“DyeTec is fortunate to be able to leverage Toledo’s rich history in glass processing and solar technology
as well as a talented workforce. And with strong government and shareholder support, Ohio represents
an ideal environment for DyeTec Solar to grow its R&D and manufacturing centres” states Marc Thomas,
CEO of Dyesol Inc., and President of DyeTec Solar.

BIPV and BAPV represent the single largest markets for both DSC and TEC technology. With
commercial and residential building consuming over 70% of all the energy used in the US today, and of
that 70%, over 25% is in the form of electricity. This 25% equates to a demand of approximately 820 GW
in the built environment, and by contrast, in 2008, total PV deployment in the US was .6 GW. DyeTec’s
glass based DSC technology is ideally suited to capture and convert the light on all sides of a building
into electricity for immediate use within the building, and/or supply electricity directly into the grid.

Richard Caldwell, Executive Chairman of Dyesol Limited, and Director of DyeTec Solar notes “Dyesol is
poised to respond to this extraordinary opportunity. Here we bring together the very best possible
partners to assist in providing an energy solution for the global market place. Glass based DSC products
have the ability to the transform the utility of any light absorbing surface and their commercial potential is
very considerable”.

For further information contact Viv Hardy at Callidus PR on +61 (0)2 9283 4113 or on +61 (0)411 208 951
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177 6058804
In the Americas contact Marc Thomas, 415-279-1407

Note to editors
The Technology – DYE SOLAR CELLS
DSC technology can best be described as ‘artificial photosynthesis’ using an electrolyte, a layer of titania (a pigment
used in white paints and tooth paste) and ruthenium dye deposited on glass, metal or polymer substrates. Light
striking the dye excites electrons which are absorbed by the titania to become an electric current many times stronger
than that found in natural photosynthesis in plants. Compared to conventional silicon based photovoltaic technology,
Dyesol’s technology has lower cost and embodied energy in manufacture, it produces electricity more efficiently even

www.dyesol.com
in low light conditions and can be directly incorporated into buildings by replacing conventional glass panels or metal
sheets rather than taking up roof or extra land area.

The Company – DYESOL Limited

Dyesol is a global solar technology company and in August 2005 was listed on the Australian Stock Exchange (ASX:
DYE). Dyesol manufactures and supplies a range of dye solar cell products comprising equipment, chemicals,
materials, components and related services to researchers and manufacturers of DSC. The Company is playing a key
role in taking this third generation solar technology out of the laboratory and into the community.

More detail about the company and the technology can be found at: http://www.dyesol.com

www.dyesol.com