SOURCE: Hoku Scientific, Inc.

Hoku Scientific, Inc.

March 03, 2010 07:00 ET

Hoku Solar to Install 339 Kilowatt Solar Power System for New Diagnostic Laboratory Services Facility

HONOLULU, HI--(Marketwire - March 3, 2010) -  Hoku Solar, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU), today announced it has been engaged to design, engineer and install a photovoltaic (PV) power system for Diagnostic Laboratory Services, Inc., a provider of clinical laboratory and related services in Hawaii and other Pacific Islands.

Hoku reported it had been selected by Diagnostic Laboratory Services through a competitive bidding process, and that it had entered into a subcontract with Allied Builders System to install the 339-kilowatt, turnkey PV system. The solar energy project will be completed as a part of a renovation of the former Panasonic warehouse in Halawa valley on Oahu, which will house Diagnostic Laboratory Services' new state-of-the-art laboratory and headquarters. Once installed, the system is expected to generate more than 490,000 kilowatt hours of clean, renewable solar electricity each year.

"Hoku is proud to partner with Allied Builders System, Architects Hawaii Ltd., and Diagnostic Laboratory Services on this exciting project," said Dustin Shindo, chairman and chief executive officer of Hoku Scientific.

"Solar power makes good business sense for our company," said Richard Okazaki, president and chief executive officer of Diagnostic Laboratory Services. "The planned PV system will help stabilize operating costs at our new facility, and we are pleased to have the benefit of Hoku's expertise as we work to further integrate clean, renewable power into our operations."

"We look forward to working with Hoku Solar on the Diagnostic Laboratory Services project, and hope to collaborate with them on future projects as well," said Gary Oda, president of Allied Builders System.

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 markets, sells, and installs 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, please visit www.hokuscientific.com.

About Diagnostic Laboratory Services, Inc.

Diagnostic Laboratory Services (DLS) provides clinical laboratory and employee drug screening services in Hawaii and other Pacific islands. The company currently employs more than 600 people and has locations throughout Hawaii, Guam, and Saipan. For more information, please visit www.dlslab.com.

About Allied Builders System

Allied Builders System is a Hawaii owned and operated general contracting company in business since 1970. Its services range from tenant improvements, structural additions, commercial, medical and resort remodeling to construction of new mid-rise buildings and industrial facilities. For more information, please visit www.abshawaii.com.

About Architects Hawaii Ltd.

One of Hawaii's largest and oldest architectural firms, Architects Hawaii Ltd. provides architectural, planning and interior design services in the hospitality, commercial, residential, healthcare, institutional and industrial markets, including projects for the Armed Forces. For more information, visit www.ahldesign.com.

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 DLS; the expected power output of Hoku's PV system; the expected performance and durability of Hoku's PV systems; 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.

Hoku, Hoku Solar, and the Hoku Scientific logo are trademarks of Hoku Scientific, Inc., and Hoku Materials is the trademark of Hoku Materials, Inc., all rights reserved.

Contact Information

  • CONTACT for Hoku:
    Tel: 808-682-7800
    Email Contact

    CONTACT for Diagnostic Laboratory Services & Architects Hawaii Ltd.:
    Piia Arma
    Tel: 808.737.1904
    Email Contact

    CONTACT for Allied Builders System:
    Mr. Gary Oda
    Email Contact