Hoku Scientific, Inc. has signed a non-binding term sheet with MerrillLynch for Hoku Materials, Inc., capital requirements for itsunder-construction polysilicon production plant in Pocatello, Idaho.The loan of $185 million is conditional on Hoku Scientific raising afurther $35 million in cash for use in the construction of the plannedpolysilicon plant. The non-binding term sheet will expire on May 31,2008.
Former Executive General Manager of Quality Assurance and Supply Chainfor Kyocera David Hester is stepping into a new Vice Presidential role,effective today. An employee of Kyocera since 2000, Hester has a B.Sc.degree in industrial engineering from Purdue University and hasachieved Lean Six Sigma “Black Belt” status.
Solarfun Power Holdings has announced the increase in the stake ofownership of the company by Good Energies, raising Good Energies’ stakein Solarfun from 6.3% to 34.7%. Good Energies today signed an agreementto purchase 66,745,638 ordinary shares and 281,011 American DepositoryShares, including 50% of CEO Yonghua Lu’s shares.
China Nuvo Solar Energy has entered into a ‘Collaboration andDevelopment Agreement’ with Pioneer Materials to build, equip, operateand manage the product development, testing and prototype manufacturingof China Nuvo Solar’s novel PV cell technology.
Applied Materials has been named Green Energy Innovator of the Year for its pioneering work on the Applied ‘SunFab’ Thin Film Line, at a gala presenting the 9th Annual Platts Global Energy Awards.
Surfect Technologies, Inc. has said that it has received a Letter ofIntent from a Texas-based solar company for up to ten of its ‘Solargy’single cell electrolytic plating tools. This is the first order thecompany has received from a solar manufacturer. The tools are expectedto be delivered throughout 2008 and 2009, the company said.
According to a news story at DIGITIMES, Gintech Energy hasreduced its solar production expansion targets for 2008. Instead ofguiding for 250MWp, the company has said that it will now reach 220MWp.
China Nuvo Solar Energy, Inc. has signed a letter of intent withPhotovoltaics, Inc. to purchase certain patents that had previouslybeen licensed to China Nuvo under a ten-year agreement.
A new PV cell start-up based in Italy, SOLSONICA S.p.A., hascommissioned M+W Zander Italia S.r. to convert part of an existing ICmemory module assembly plant owned by parent company EEMS S.p.A. into aPV cell manufacturing plant in Rieti, Italy.
HelioVolt has added two key executives to its Board of Directors,namely, E. Kenneth Pentimonti, Principal at Paladin Capital and RonaldD. Bernal (pictured), Partner at Sequel Venture Partners. Both ofthese new Board members were recent contributors to HelioVolt’s recent$101 million fund.
