SOLF Pays Up For Supply Deal, HOKU Stock Soars

I’ll keep this post short because the details are well.. detailed and aren’t worth repeating here.  You can get all the financial details in a post here. In a nutshell, Solarfun (SOLF) owed Hoku Scientific (HOKU) millions inpayments for supplying them with solar modules that they were behind onand put their agreement in jeopardy.  It’s being […] Read more

Hoku, Jinko Amend Silicon Contract

Hoku Materials Inc., a wholly owned subsidiary of Hoku Scientific Inc.,and Jinko Solar Co. Ltd., formerly named Jiangxi Jinko Solar Co. Ltd., have amended the polysilicon supply agreement in effect between the two companies. Accordingto the terms of the amendment, both companies have agreed to reduce theterm of the sales agreement by one year and […] Read more

Hoku Gets Bailed Out (HOKU)

Hoku Scientific (HOKU) has been thrown a big Chinese life preserverand shares are soaring in after hours trading.  China’s Tianwei NewEnergy Holdings announced a definitive agreement after the bell todayto convert $50 million in prepayments to Hoku into common stock andrelated warrants (giving the company 60% ownership), another $50million in debt financing and a commitment […] Read more

Construction to Start Again on Hoku’s (HOKU) Idaho Plant

Hoku’s Pocatello plant just got another reprieve. According to Reuters,Hoku just announced that construction will begin again on itsPocatello, Idaho plant. Under the change order agreement that Hokuentered into with construction company JH Kelly, Hoku will pay JH Kelly$5 million of the total $12 million that is past due. JH Kelly hold offforeclosure proceedings until […] Read more

Is Hoku’s Polysilicon Operation Takeover Bait? (HOKU)

Concerns about climate change, energy security and ever-shrinkingconventional resources are very much on everyone’s mind these days.Policymakers’ shifting commitment to embracing renewable technologybodes well for the future of alternatives. So despite the still-saggingeconomy, green players are jockeying for dominance in the world of NewEnergy. A company that could find itself an acquisition target of one of […] Read more

Hoku Materials’ (HOKU) Idaho Plant Granted Foreign Trade Zone Status

Hoku Materials just announced that its Pocatello, Idaho plant hasbeen granted foreign trade zone status. This news means that Hoku willbe except from paying duties on all supplies it imports from othercountries, as long as the products produced are intended for export.Since approximately 80% of Hoku’s expected polysilicon capacity hasalready been sold to Chinese companies, […] Read more

Hoku Scientific (HOKU) Retains Deutsche Bank For Possible Sale Of Company

One month ago we first reported on Hoku’s financing concernsfor the Idaho plant which sent the stock plunging 30%.  Hoku Scientific(HOKU) is taking another nose dive today (down 15%) after it reportedthat its financial troubles have forced the company to slow construction on its Idaho polysilicon plant while it looks for investors and/or a possible […] Read more

Hoku, Tianwei amend polysilicon supply agreements

Hoku Materials Inc., a wholly owned subsidiary of Hoku Scientific Inc.,established to manufacture and sell polysilicon for the solar market,and Tianwei New Energy (Chengdu) Wafer Co. Ltd., a subsidiary ofTianwei New Energy Holdings Co. Ltd. that manufactures silicon wafers,photovoltaic cells, and modules in China, have amended their twopolysilicon supply contracts. This amendment is meant toaccelerate […] Read more

Hoku Scientific (HOKU) Plunging 30% On Financing Concerns

Hoku Scientific (HOKU) reported earnings after the bell yesterday,but it isn’t the earnings that’s driving the stock down this morning,it’s concern  that the company won’t be able to raise enough cash tofund construction of its Idaho polysilicon plant and possibly remain inbusiness.  The company has a $106 million gap that it’s working to fillthrough customer […] Read more

Hoku Scientific (HOKU) Surging With Heavy Volume Above 200DMA

Hoku Scientific (HOKU) is really surging today with heavy volume abovethe 200 day moving average for the first time in well over a year.  Idon’t see any news today, but the company did announce an economic development package(ie tax breaks) with the City of Pocatello of Idaho which we covered afew days ago.  Perhaps an […] Read more

Hoku Materials (HOKU) Signs Economic Development Agreement With Pocatello

Hoku Materials just announced a new economic development agreementwith the City of Pocatello. The deal could grant Hoku up to $49 millionworth of tax increment financing. Under the terms of the contract, Hokuwill get up to $26 million in incremental property tax reimbursement tocover its capital costs from setting up a polysilicon production plantin Pocatello. […] Read more