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Hoku Energizes Idaho Polysilicon Facility(November 21, 2011)
POCATELLO, ID -- (Marketwire) -- 11/21/11 -- Hoku Materials, a wholly owned subsidiary of Hoku Corporation (NASDAQ: HOKU) that manufactures, markets, and sells polysilicon for photovoltaic (PV) modules, today announced that it has connected its polysilicon production plant to Idaho Power's substation and is receiving permanent power as the company continues with plant commissioning.
Hoku Corporation's CEO, Scott Paul, said, "Connecting to the 82-megawatt Idaho Power grid-connected substation is a critical milestone. The power infrastructure for the plant is complete, and we now have continuous electricity. Previously we have been using temporary power and portable generators for localized construction and commissioning activities. Connecting to the substation enables us to complete system-wide commissioning activities, including our instruments and control systems, and power-hungry equipment like pumps, compressors, and our polysilicon deposition reactors. These reactors are the largest consumers of power on-site, requiring very large loads of continuous power -- they cannot be run on temporary power or portable generators."
Mr. Paul continued, "There are a number of items that need to be completed by our operators, engineers, and construction contractors before we can bring chemicals on-site and begin the continuous production of polysilicon. These items include finalizing our internal safety checks, and completing the installation of various fire protection, alarm, and safety systems. However, with the addition of permanent power, we are able to start-up the plant."
About Hoku Corporation
Hoku Corporation (NASDAQ: HOKU) is a solar energy products and services company with three business units: Hoku Materials, Hoku Solar, and Tianwei Solar USA, Inc. Hoku Materials manufactures, markets and sells polysilicon for the solar market from its plant in Pocatello, Idaho. Hoku Solar markets and installs turnkey photovoltaic systems and provides related services. Tianwei Solar USA markets and sells photovoltaic modules manufactured by Tianwei New Energy. Hoku Corporation is a majority owned subsidiary of Tianwei New Energy Holdings Co., Ltd. For more information, visit www.hokucorp.com.
Hoku, Hoku Solar, and the Hoku Corporation logo are trademarks of Hoku Corporation, and Hoku Materials is the trademark of Hoku Materials, Inc., all rights reserved. All other trademarks, trade names and service marks appearing in this press release are the property of their respective holders.
© Copyright 2011, Hoku Corporation, all rights reserved.
This press release contains forward-looking statements that involve many risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about the Company's future growth, the Company's ability to successfully produce polysilicon from its plant currently under construction in Pocatello, Idaho, and the schedule for commencing the production of polysilicon, the Company's business strategy and plans, and objectives of management for future operations. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the risks, uncertainties and other factors disclosed in the Company's most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements. In evaluating these statements, you should specifically consider the risks described in the Company's filings with the Securities and Exchange Commission, as applicable. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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