Hoku Scientific Inc. said today it has retained an investment bank to explore the possible sale of the company as it continues to seek financing for its planned polysilicon plant in Idaho.

Hoku said it is in discussions with several strategic and financial investors regarding debt and equity financing for the Pocatello plant.
In addition to the discussions with investors, Hoku said it had retained Deutsche Bank Securities as its financial advisor to seek a possible sale of the company.
“While we would prefer to progress faster in Pocatello, we remain very encouraged by the strong interest in our project among potential financiers, and by the continued commitment of our vendors and customers, as seen in recent amendments,” said Dustin Shindo, chairman and chief executive officer of Hoku Scientific, Inc.
“Despite this temporary slowdown, we remain absolutely confident that this plant will be completed and that we can meet our customer commitments. To that end, we have noplans to lay off any of our staff, including the first group of plant operators that we hired in Pocatello in June,” Shindo said.