Updated at 12:22 p.m., Wednesday, June 20, 2007
Hoku Scientific mulls sale of Kapolei fuel cell plant
Advertiser Staff
Hoku Scientific Inc., a Kapolei-based technology company, said it may sell its headquarters and fuel cell membrane production facility. The company has increasingly been focusing on its polysilicon plant in Idaho.The company said its fuel cell business has not produced meaningful revenue or profits and that it has scaled back its investment in the business. The operation "has been limited to maintaining and pursuing intellectual property protection for the company's inventions, and fulfilling its obligations in its contract with the U.S. Navy," said Hoku, which in December wrote down the value of its fuel-cell business and reduced staffing for the operation.
Hoku said it plans to explore a potential sale of the 2.2-acre property and 14,000-square-foot building and relocating to a smaller leased warehouse and office space on O'ahu.
The company also announced today a definitive contract with a division of Solar-Fabrik AG. The agreement is worth up to about $185 million over a seven-year period and includes the sale and delivery of polysilicon, a material used in computer chips and solar panels.
