Hoku Materials, Inc just announced that it has signed a new 10-year polysilicon supply agreement with Shanghai Alex New Energy Company, Ltd. Under the contract, Hoku will resell a portion of the polysilicon production capacity it recaptured after amending a contract with Jiangxi Jinko Solar Company. Alex New Energy had been planning to buy Hoku polysilcon indirectly from Jinko, but will now buy directly from Hoku instead.
Hoku has amended the contract with Jinko as … Read the rest
Hoku Materials, Inc, has just with Stone and Webster, Inc, to redefine the company’s responsibilities in the construction of Hoku’s new polysilicon plant. Under the terms of the change order agreement, Hoku will delay engineering and construction of the trichlorosilane production area of the plant until April, and will transfer construction management services to JH Kelly, LLC.
Dustin Shindo, Hoku’s chairman and CEO, described how the change will affect the company:
“The revised scope of … Read the rest
Hoku Scientific (HOKU) is out with results after the bell today and they aren’t pretty. The company reported a non GAAP EPS loss of .03/share, a wider loss than the year ago quarter in which the company lost .01/share. Revenues were equally as awful, coming in at $767K.. good for a nearly 50% drop from the year ago period. Their outlook for next year doesn’t get any better with a projection of only $5 million … Read the rest
Hoku Scientific (HOKU) has announced this evening that they have secured a supply deal with BHS Acquisitions, a leading chemical supplier for supplies needed to produce solar grade polysilicon. BHS will supply Hoku with guaranteed amounts of HCI for eight years beginning in 2009 and is expected to be enough to support the continued operation of Hoku’s trichlorosilane plant, enabling the production of 4000 metric tons of polysilicon per year. … Read the rest
Hoku Materials announced that it has signed a supply contract with Polymet Alloys for silicon metal to be converted into polysilicon for the solar market. The 3-year contract states that Polymet will supply Hoku with specified amounts of silicon each year starting in 2009. This guarantees that Hoku will have enough silicon for the start-up of its plant. If necessary, both parties can agree to expand the contract after the first year.
Dustin Shindo, Hoku’s … Read the rest
Hoku Scientific has posted its 3rd quarter financial results. Although revenue rose tremendously to $1.87 million, but due to increased expenses,the company’s net loss actually increased slightly. This time last year, the company posted a loss of $1 million dollars, or 6 cents a share. This year, the figure has increased to $1.37 million, or 7 cents a share.
However, Hoku is still making progress on its polysilicon plant in Idaho, and expects to … Read the rest
Hoku Scientific has been approved for a $5 million loan with First Hawaiian Bank. The loan will help the company finance expenses incurred from the construction of its new polysilicon manufacturing plant in Idaho. The loan, which carries a 5% interest rate, must be paid back by January 1, 2009. … Read the rest
Hoku Solar, a subsidiary of Hoku Scientific (HOKU) announced a contract with the Hawaiian DOT to design, engineer and install 779 KW of photovoltaic power systems at airports in Lihue, Kahului, Kona and Hilo beginning later this year
“Hoku is proud to have been selected to partner with the Hawaii State Department of Transportation on this effort,” said Dustin Shindo, chairman and chief executive officer of Hoku Scientific. “Through this initiative and many others, the … Read the rest
Xcel Energy has selected Hoku Solar to install a photovoltaic (PV) solar power system on Xcel’s headquarters in Oahu, Hawaii. Once the installation is completed, the 34 kilowatt PV system will generate 53,500 KW hours of energy each year. Over its lifetime, the system is expected to offset more than 885 tons of CO2 emissions.
Ed D’Ascoli, founder and president of Xcel, commented on the project and the choice of Hoku Solar, saying
… Read the rest"Xcel is
Hoku Materials, a subsidiary of Hoku Scientific (HOKU) announced the signing of an electric service agreement with Idaho Power Co. for the purchase of electricity to power Hoku’s planned polysilicon production capacity of about 4000 metric tons/year.
“We are pleased to have finalized these agreements,” said Dustin Shindo, chairman and chief executive officer of Hoku Scientific. “The cost of electricity is the largest single component of polysilicon production costs for a Siemens-based process such … Read the rest