Hoku Scientific Announces $25 Million Private Placement

KAPOLEI, HI, -- Hoku Scientific, Inc. (NASDAQ: HOKU), a materials science company focused on clean energy technologies, announced it has entered into a securities purchase agreement with certain institutional investors, and a wholly owned subsidiary of Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV) cells and modules, to raise approximately $25 million through the issuance of 2,893,520 shares of common stock. Suntech's subsidiary has agreed to contribute approximately $20 million of the financing. The financing is expected to close on or before February 29, 2008, subject to the satisfaction of customary closing conditions. Link. Chart.