HOKU SCIENTIFIC, INC – announces sales deal worth up to $298 million over 10 years.
Hoku Scientific, Inc. (Nasdaq: HOKU) is trading up 13.57% following the Company’s July 30, 2008 announcement that Hoku Materials, Inc., its wholly owned subsidiary has established to manufacture and sell polysilicon for the solar market, and Jiangxi Kinko Energy Company, Ltd., a manufacturer of silicon ingots, wafers and related products in China, today announced the signing of a definitive contract for Hoku’s sale and delivery of solar-grade polysilicon to Kinko Energy over a ten-year period beginning in late-2009.
According to the contract, up to approximately $298 million may be payable to Hoku during the ten-year period, subject to product deliveries and other conditions. The take-or-pay contract provides for the delivery of predetermined volumes of polysilicon each year, with the first shipment in the second half of 2009 and the remainder over a ten-year period at set prices that will decline throughout the term of the agreement. The contract also provides for an initial deposit of $10 million to Hoku, and requires that Kinko Energy make additional prepayments for products in the amount of $20 million by December 20, 2008 and an additional $25 million by March 31, 2009. Under the agreement, Hoku will grant to Kinko Energy a security interest in its polysilicon assets to secure Hoku’s obligation to repay $55 million to Kinko Energy as a credit against product shipments over time. To read the entire story, click here:
ALTAIR NANOTECHNOLOGIES, INC – Announces earnings call
Altair Nanotechnologies Inc. (NasdaqCM: ALTI ) is trading up 3.52% following the Company’s July 30, 2008 announcment that it will hold a conference call to discuss financial results for the second quarter, ended June 30, 2008. The call is scheduled for Wednesday, August 6, 2008 at 11:00 a.m. Eastern Daylight Time (EDT). Shareholders and members of the investment community are invited to participate in the conference call.
The conference call dial-in number for both U.S. and international callers is 719.325.4878. Please dial in to the conference five minutes before the call is scheduled to begin. Ask the operator for the Altair Nanotechnologies call.
An audio replay of the conference call will be available at 2:00 p.m. EDT until Midnight EDT, Wednesday, August 13, 2008. It can be accessed by dialing 719.457.0820 and entering conference number 5992401.
Additionally, the conference call and replay are available online, and can be accessed by visiting Altair Nanotechnologies’ web site, www.altairnano.com. To read the entire story, click here:
SOUTHERN COMPANY – Reports Second Quarter Earnings
Southern Company (NYSE: SO) is trading up 1.01% following the Company reporting on July 30, 2008 second quarter earnings of $416.4 million, or 54 cents a share, compared with $429.2 million for the second quarter of 2007, or 57 cents a share, in the same period a year ago.
For the six months ended June 30, Southern Company’s earnings were $775.6 million, or $1.01 a share, compared with $767.8 million, or $1.02 a share, for the same period a year ago.
Earnings for the second quarter and six months ended June 30, 2008, included a $67 million charge, or 9 cents per share, related to three leveraged leases from the 1990s when Southern Company pursued development of international energy projects. Earnings for the second quarter and six months ended June 30, 2007, included synthetic fuel earnings of 2 cents per share and 5 cents per share, respectively. To read the entire story, click here:
CALPINE CORPORATION – Recognized by California for Environmental Stewardship
Calpine Corporation (NYSE: CPN) is trading flat following the Company’s July 30, 2008 announcement that it was recently recognized by the state of California for its ongoing commitment to safety and the environment and its excellence in lease maintenance at its geothermal facilities at The Geysers in Northern California.
The California Department of Conservation presented Calpine’s Geysers geothermal operations with its seventh consecutive Outstanding Lease Maintenance Award for environmental stewardship, safety, infrastructure maintenance and resource conservation. Calpine is one of two geothermal operators to receive the award, which traditionally is issued to oil and gas field operators. To read the entire article, click here:
W2 ENERGY INC – Updates the market on developments
W2 Energy Inc. (Pink Sheets: WTWO), a developer of green energy, is trading up 28% following the Company’s July 30, 2008 publication a corporate status update.
Mr. Michael McLaren reports on the status of the Company’s Bulletin Board application saying that the company received comments from FINRA regarding its latest submission for an OTCBB listing. The company has addressed the comments and re-submitted the application on July 22, 2008.
Frankfurt Quote
On July 15th 2008, the company de-listed its common stock from the Frankfurt exchange. The company is presently working on a fully reporting listing with a separate class of shares and different CUSIP number and expects the listing to be active within the next 120 days. To read the entire story, click here:
