The partners will receive funding from the British Government to develop steel-based building products that incorporate Dyesol’s patented dye solar cell technology to produce clean electricity.

In a statement to the Australian Stock Exchange, Dyesol said this would potentially be the most cost-effective solution in meeting growing demand for metal-based photovoltaic construction projects.

If successful, Dyesol also expects the product would be a “huge opportunity” to abate greenhouse gas emissions.

The Dyesol technology uses an electrolyte and a solar-sensitive dye (ruthenium) that can be incorporated into glass, and now potentially metals.

Compared to conventional silicon-based photovoltaic technology, Dyesol says its technology is cheaper to manufacture and can generate electricity even in low-light conditions.

Its JV partner, Corus has an annual turnover of £9 billion ($A22.4 billion) and major operating facilities in the United Kingdom, the Netherlands, Germany, France and Norway.