Two weeks ago, Dyesol was trading at 22 cents, before the stock jumped in a single day to 40 cents. This caused the ASX to issue the first of two share price queries on February 6 as Dyesol had not made any recent announcements that may have contributed to the increase.

Last Friday, the ASX issued a second share price query to Dyesol after its share price jumped to close at A77c on Thursday – a 148% increase over the week. The stock slipped to close at 71c on Friday but opened at 81 cents today.

In both instances, Dyesol said it was not aware of any unreleased market information that may have influenced trading in its securities. In response to the second query, the company noted the bulk of transactions occurred after Professor Michael Graetzel was appointed as founding chairman of its technology advisory board on Tuesday. But the second surge did begin before the appointment was announced.

Meanwhile, Dyesol said it has finalised a memorandum of understanding with Turkish company NELSI, in which the Australian company will study the feasibility of setting up a manufacturing facility that will supply its dye solar cell (DSC) technology in Turkey.

Dyesol also recently held its first “Industrialisation of DSC – from Research to Product” conference in Canberra.

At the conference, world leaders in dye solar cell research shared knowledge with industrialists, entrepreneurs and architects on progressing third-generation solar cells from the laboratory into commercial operations for use in the community.

Dyesol said its technology has the potential to turn every building into its own electricity generation plant by replacing conventional glazing with Dye Solar Cell panels.

These panels can effectively produce electricity even in low light conditions, it said.

Dyesol’s technology produces electricity by mimicking photosynthesis. The company claims its “third-generation” technology is more advanced than earlier silicon-based photovoltaic cells because it can produce electricity in low light conditions.

Dyesol also recently won a $A3.15 million contract to supply technology and materials to Europe’s first dye solar cells production plant.

The company signed the contract in December with Greek firm Solar Technologies, which will build the plant in Ioannina, northern Greece. The plant will make more than 5000 square metres of Dyesol’s solar cells for the European market.

Across the Atlantic, Dyesol has completed a feasibility study on the setting up of a similar manufacturing facility in Canada, it said.

The company has also lodged two patents overseas to protect its intellectual property.