The PureWave Electronic Shock Absorber is a stabilizing device that uses a supercapacitor to store short-term, excess power during sudden increases in wind generation and release that power during sudden decreases. The device was invented by Karl Stahlkopf, HECO senior vice president for energy solutions and chief technology officer, along with staff from HECO subsidiaries, Hawaii Electric Light Co., and Maui Electric Co. HECO patented the concept and chose S&C Electric to design, build and commercialize the device.

A dedication ceremony for the PureWave ESA is scheduled for Jan. 17 at the Lalamilo Wind Farm in Kona.

Lock-up period for Hoku IPO extended until Feb. 6

Hoku Scientific Inc. said today the "lock-up agreements" for investors that participated in the company's initial public offering will be extended five days to Feb. 6.

The the extension means that investors will be able to sell the shares starting Feb. 7, subject to any resale restrictions of the federal securities laws. The extension affects approximately 12.6 million shares of Hoku Scientific's common stock.

The company's underwriting agreement and related lock-up agreements provide for the extension, which is due to the timing of the company's previously announced third-quarter earnings press release on Jan. 19. Hoku shares closed today up 96 cents cents at $8.67 on the Nasdaq market.

Hoku Scientific develops and manufactures fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells. For more information visit www.hokuscientific.com.