Hoku Accepts Offer to Sell Kapolei, Hawaii Facility
Hoku Scientific, Inc. (NASDAQ: HOKU), a materials science company focused on clean energy technologies, today announced it has accepted an offer from Operating Engineers Local Union Number 3, District 17 (Hawaii) to sell its property and facility in Kapolei, Hawaii.
The closing of the sale is subject to various contingencies, including the sale by Operating Engineers of its current facility on Middle Street near downtown Honolulu.
"We are pleased by these developments," said Dustin Shindo, chief executive officer of Hoku Scientific. "The growth of our solar installations business here in Hawaii has changed our real estate needs. Our Kapolei facility was originally designed for research, development, and production of our fuel cell membrane and MEA products, and it no longer suits our solar panel warehousing, solar project development, and corporate office needs. Following the sale, we plan to relocate Hoku Scientific’s global headquarters and our Hoku Solar operations to a new facility on Oahu."
About Hoku Scientific, Inc.
Hoku Scientific, Inc. (NASDAQ: HOKU) is a diversified clean energy technologies company with three business units: Hoku Materials, Hoku Solar and Hoku Fuel Cells. Hoku Materials plans to manufacture, market, and sell polysilicon for the solar market from its plant currently under construction in Pocatello, Idaho. Hoku Solar is a provider of turnkey photovoltaic systems in Hawaii. Hoku Fuel Cells has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells. For more information visit www.hokuscientific.com.
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