Posted at 8:01 a.m., Thursday, August 9, 2007
Hoku signs construction contract for polysilicon plant
News Release
POCATELLO, ID — Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU) established to manufacture and sell polysilicon for the solar market, today announced that it has awarded a contract to JH Kelly LLC, a Washington-based general contractor, to provide construction services for Hoku Materials' polysilicon production plant located in Pocatello, Idaho. The contract is for construction services estimated at $120 million for a production facility capable of producing 2,000 metric tons of polysilicon annually with additional incentives of up to $5 million if certain construction schedule milestones, cost targets, and safety standards are met."We are excited about our contract with JH Kelly. Their experience and partnership further our efforts to construct a polysilicon production plant," noted Dustin Shindo, chairman of the board of directors, president and CEO of Hoku Scientific. "JH Kelly has more than eighty years of experience, and has performed construction services for polysilicon, chemical process, and semiconductor facilities, making them a solid choice to be our construction services provider."
"Hoku has impressed us with their approach to building their polysilicon plant," said Dan Evans, Chairman of JH Kelly. "We look forward to working with them on this exciting project."
About Hoku Scientific, Inc.
Hoku Scientific (NASDAQ: HOKU) is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. Hoku Materials plans to manufacture, market, and sell polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho. Hoku Solar is marketing and plans to install turnkey photovoltaic systems in Hawaii. Hoku Fuel Cells has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells. For more information visit www.hokuscientific.com.
About JH Kelly LLC
JH Kelly is a fourth generation, family-owned construction company that provides HVAC and plumbing services to commercial facility owners and acts as a self-performing industrial general contractor at process plants throughout the greater Pacific Northwest.
