- Subsidiary Hoku Materials, Inc. has entered an agreement with Polymet Alloys, Inc. for the supply of silicon metal to Hoku Materials for use in its planned polysilicon production facility in Pocatello, Idaho. The term of the Agreement is three years, commencing January 1, 2009.
- Each year during the term of the Agreement, Polymet has agreed to sell to Hoku Materials, and Hoku Materials has agreed to purchase from Polymet, specified volumes of silicon metal that meet certain purity and size specifications. The volume is fixed during each of the three years; provided that the parties may agree to increase the volume.
- Pricing is fixed during calendar year 2009, and the aggregate net value of the silicon metal products to be purchased by Hoku Materials under the Agreement in calendar year 2009 is approximately $6.5M. Pricing is to be renegotiated for the second and third years of the Agreement.

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