IHS Chemical Week

Regions :: Middle East

Tasnee invests in Australian clean energy firm

9:16 AM MST | February 28, 2013 | Deepti Ramesh

Clean energy company Dyesol (Queanbeyan, Australia) says that Saudi Arabia’s National Industrialization Co. (Tasnee; Riyadh), has invested A$4 million ($4.1 million) in Dyesol by way of a 15-month redeemable loan note, convertible into Dyesol shares at 16.6 cts/share, with a 0% coupon. During an initial 6-month exclusivity period, Tasnee and Dyesol will discuss a number of partnership and investment possibilities, focusing on R&D collaboration, large-scale production share, potential demonstration projects in the Mideast and, importantly, further...

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