Friday, January 8, 2010

Hoku Secures Financing to Complete Pocatello Plant

Chinese solar energy firm Tianwei New Energy Holdings Co., Ltd., is now – officially – the majority owner of Hoku Scientific, a Hawaii-based clean tech company building a polysilicon plant in Pocatello.

Dustin Shindo, chairman and CEO of Hoku, said the stock sale and subsequent financing agreements close a crucial funding gap for the Pocatello project, which had been slowed over the past year by shortfall of between $106 million and $121 million.

Full scale construction at the Pocatello plant is set to resume, and equipment that had been placed on hold pending Hoku’s receipt of financing is on its way, the company reported.

Read the full article from the Idaho Business Review by clicking here.

Other Regional Business News

Pacific Ethanol resumes production in Burley

Pacific Ethanol, Inc. on Jan. 6 said it resumed production at its Magic Valley facility in Burley, Idaho. The plant is designed to produce 60 million gallons of ethanol per year.   Click to read more

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