Hoku Materials Plans New Polysilicon Plant for Pocatello, Idaho, USA
Jan 9, 2007
source: Hoku Scientific Press release
http://www.shareholder.hokuscientific.com/ReleaseDetail.cfm?ReleaseID=224994
Pocatello, Idaho — Hoku Materials, a division of Hoku Scientific, Inc. (NASDAQ:HOKU), today announced it plans to build a $220 million polysilicon production plant in Pocatello with a payroll of 200 when the plant initiates operations. The City of Pocatello has reserved 450 acres of vacant land for Hoku’s facilities and future expansion. Subject to financing and other conditions, engineering and construction is planned to begin in the coming months and Hoku expects that the plant will be operational in late 2008.
The Hawaii-based company focuses on clean energy technology and plans to produce a highly pure form of silicon, the key material used in most solar power systems. Company officials announced the Pocatello initiative surrounded by representatives from the Bannock Development Corp., the city and Idaho Commerce & Labor.
Dustin Shindo, chairman, president and chief executive officer of Hoku Scientific, said, “We are pleased to have selected the City of Pocatello as the location for our polysilicon production facility. We believe Pocatello is an ideal location for a business of this nature due to its pro business environment, highly skilled labor force, and ability to meet the operational needs of a growing company such as ours.”
The company has contracted with CH2M HILL Lockwood Greene for engineering and other services for the Pocatello plant. CH2M Hill Lockwood Greene is one of the largest and most experienced engineering and construction management companies in the world.
Idaho Governor C.L. “Butch” Otter praised Hoku’s decision to locate in Idaho. “It speaks well of the company’s commitment to efficiency and employing a quality work force. It also says great things about the people of the Pocatello area and Idaho’s commitment to attracting good jobs to our state.”
Mayor Roger Chase of the City of Pocatello stated, “Having worked closely with the company’s management team over the past several months we are excited to have them become part of the Pocatello community.” “This is a tremendous opportunity for Pocatello,” Mayor Chase added. “Not only have we brought a company to Pocatello that will be a major employer, but the spin-off potential could have an even greater impact for our community.”
Idaho Commerce & Labor, Bannock Development, the city and Idaho State University have been working together successfully to attract high technology companies like Hoku Materials to southeastern Idaho. The state has offered $1.2 million in work force training funds to the company and $200,000 to the City of Pocatello to offset public facility costs necessary to facilitate Hoku’s plans. Idaho Commerce & Labor Director Roger B. Madsen received a call from Hoku officials last spring when they were searching for expansion sites. Since then, his agency has been working with the city and the Bannock Development Corporation to land the project for Pocatello.
“The support of Mayor Chase and the Bannock Development Corporation helped seal the deal,” said Madsen. “Hoku’s advancements in the area of fuel cell technology hold a lot of potential for partnerships with the Idaho National Lab. A project like this and any additional spin-offs could help move our state into the next generation of energy development.”
Bannock Development Chairman Phil Joslin said Hoku’s announcement is a great way for his group to start the New Year. “Deals like this can often take a long time to finalize,” said Joslin. “The fact that an agreement was reached so quickly is a credit to the entire Bannock Development staff and all of our partners who work in economic development.”