Hoku Solar, a division of Hoku Scientific, Inc. (NASDAQ:HOKU) that is planning to manufacture and sell polysilicon-based photovoltaic (PV) modules, signed a contract with Spire Corporation (NASDAQ:SPIR), a U.S. solar equipment manufacturer, for the purchase of a PV module production line for approximately $2 million. The production line will enable Hoku to manufacture up to 15 megawatts (MW) of PV modules each year and is scheduled to be delivered in the first half of calendar year 2007. Hoku intends to eventually increase its module production capacity to 30 MW per year.
Hoku also signed a contract to its first solar solar cells – they will be manufactured in Taiwan for approximately $2.8 million and will be delivered later this year. Hoku expects to use the cells in its initial module product line in the first half of calendar year 2007.
Solar cells are in very high demand today due to the shortage of polysilicon, the key raw material used in the manufacture of these cells. Hoku is currently in discussions with a number of the world’s leading manufacturers of solar cells for future supply of polysilicon from its Hoku Materials division.
About Hoku Scientific, Inc.
Hoku Scientific develops and manufactures fuel cell membranes and membrane electrode assemblies for stationary (including residential and back-up power applications) and automotive proton exchange membrane fuel cells. The Company is expanding its business to manufacture solar modules through its Hoku Solar business unit, and polysilicon for the solar and integrated circuit markets through its Hoku Materials business unit.
About Spire Corporation
Spire Corporation develops innovative solar energy manufacturing equipment. Spire is the world’s only equipment and technology supplier that manufactures all the equipment in-house for an entire module production line. Spire offers full, turnkey solutions for wafer, cell and module manufacturing equipment. www.spirecorp.com
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