honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser

Updated at 11:06 a.m., Tuesday, February 6, 2007

Hoku Scientific expands deal with German solar firm

Advertiser Staff

Hoku Scientific Inc. today said it expanded a prior supply agreement with Solar-Fabrik AG, a German maker of solar power products.

The companies have increased the total amount of their planned contract to approximately $175 million, and extended a deadline to finalize a polysilicon supply agreement. The supply agreement was originally expected to generate $120 million to $140 million in sales for Hoku over several years, starting in roughly two years.

Under the terms of a nonbinding memorandum of understanding, Hoku will supply polysilicon chunks to Solar-Fabrik over a fixed number of years, with predetermined prices on a non-cancelable order.

Hoku plans to manufacture the polysilicon chunks at a new facility it is planning in Idaho.