SOURCE: Hoku Scientific, Inc.

August 04, 2008 16:30 ET

Prudential Locations Selects Hoku Solar to Install PV on Prudential Locations' Oahu Headquarters

HONOLULU, HI--(Marketwire - August 4, 2008) - Prudential Locations, LLC, Hawaii's largest locally owned and operated real estate company, announced today that it has selected Hoku Solar, a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU) that designs, engineers and installs turnkey photovoltaic (PV) power systems, to install a PV power system on Prudential Locations' Oahu headquarters.

Hoku Solar plans to install an 87-kilowatt PV system at Prudential Locations' Kapahulu Avenue office building. The system is expected to generate more than 136,000 kilowatt hours of clean, solar electricity each year. The solar power project is part of an ongoing renovation of Prudential Locations' flagship office and contributes directly toward the company's corporate sustainability initiative.

Once installed, Prudential Locations' PV system is expected to produce enough electricity over its lifetime to power the equivalent of three hundred eighty-two homes for one year. Environmentally, it is expected to offset nearly 2,160 tons of carbon dioxide emissions -- the equivalent of removing more than 139 cars from Hawaii's roadways.

"Hoku is pleased to partner with Prudential Locations to complete this important project," said Dustin Shindo, chief executive officer of Hoku Scientific. "Not only does PV make good business sense in Hawaii, Prudential is showing great community leadership by investing in clean, renewable energy for their Honolulu offices."

"Our collaboration with Hoku to invest in new, innovative technology is one of many sustainability efforts that allow us to do our part to reduce our environmental footprint," said Bill Chee, president and CEO of Prudential Locations. "We view this as a long-term partnership between our companies, and it is clear that Hoku shares Prudential's focus on exemplary customer service."

About Hoku Scientific, Inc.

Hoku Scientific (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 marketing and plans to install 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.

About Prudential Locations

Prudential Locations, LLC is a multi-faceted real estate company with a rich kama'aina tradition in the islands of Hawaii that boasts more than three decades of extensive local experience and connections to offer its clients. To benefit customers, the Prudential Locations website, www.PrudentialLocations.com, shows every home, land, condo and real estate listing on Oahu, Maui, Big Island, Kauai, Molokai, and Lanai, with detailed property information to assist its clients. By being a leader in real estate market research and knowledge and continually training more than 280 real estate agents, Prudential Locations produced more than $1 billion in sales in 2007. Prudential Locations Hawaii is ranked in the top 4 percent of all Prudential Real Estate affiliates and recently earned the distinction of Hawaii's top brokerage firm for both transactions and sales volume by the RIS 2008 Power Broker Survey. Prudential Locations was established in 1969 with offices and affiliates throughout the state, and is an independently owned and operated member of the Prudential Real Estate Affiliates, Inc.

Forward-Looking Statements

This press release contains forward-looking statements that involve many risks and uncertainties. These statements relate to Hoku's ability to successfully complete the photovoltaic (PV) installation for Prudential Locations; the expected performance and durability of Hoku's PV system; Hoku's future financial performance; Hoku's business strategy and plans; and objectives of management for future operations. 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 statements involve known and unknown risks, uncertainties and other factors that may cause Hoku'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. 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 Hoku's filings with the Securities and Exchange Commission. Except as required by law, Hoku 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.

Contact Information

  • For more information contact:

    Hoku Scientific, Inc.
    808-682-7800
    Email Contact

    Bennet Group PR
    Monica Salter
    808.531.6087 ext. 102
    Email Contact