[citation needed] The company was predominantly focused on perovskite solar cell and materials development, with numerous academic and corporate partnerships attempting to commercialize modules based on both glass and metal substrates by 2019 and 2020 respectively.
Their paper, "A low-cost, high-efficiency solar cell based on dye-sensitized colloidal TiO2 films", was published in 1991 in the journal Nature, and spawned a new research field to harvest electrical power from sunlight.
Dyesol Limited was formed in 2004 to accelerate the commercial development of DSC technology and build on the DSC work of previous 14 years carried out by Sustainable Technologies International Pty Ltd ("STI"), Greatcell Solar S.A. ("Greatcell"), and Switzerland's École Polytechnique Fédérale de Lausanne (EPFL).
It was listed on the Australian Stock Exchange in 2005 (DYE) and the German Open Market (D5I.F), and is trading on the OTCQX (DYSOY) through its depositary BNY Mellon.
Michael Grätzel stated "Our research work on solid-state Dye Solar Cells (ss-DSC) is now achieving efficiencies exceeding 15%".