Sign in Subscribe
Automobile industry

Hoku Scientific Awarded Contract by Nissan Motor Co., Ltd.

Strategic Insights

— 1 min read

Hoku Scientific, Inc., a leading designer and manufacturer of membrane electrode assemblies (MEAs) and membranes for proton exchange membrane (PEM) fuel cells, has been awarded a new contract by Nissan Motor Co., Ltd., one of the world's largest automobile manufacturers. The contract is a significant development in the companies' ongoing partnership, which began in March 2004. Under the terms of the contract, Hoku Scientific will provide advanced hydrocarbon-based membranes and MEAs for Nissan's fuel cell cars and trucks. The joint testing of newer versions of Hoku Membrane and Hoku MEA will be conducted at Hoku's facility in Kapolei, Hawaii, and at Nissan's facility in Oppama, Japan, from January 1, 2006, to September 30, 2006.

Key Takeaways:

  • Hoku Scientific has been awarded a new contract by Nissan Motor Co., Ltd. to develop advanced hydrocarbon-based membranes and MEAs for Nissan's fuel cell cars and trucks.
  • The contract is a significant development in the companies' ongoing partnership, which began in March 2004.
  • The joint testing of newer versions of Hoku Membrane and Hoku MEA will be conducted at Hoku's facility in Kapolei, Hawaii, and at Nissan's facility in Oppama, Japan, from January 1, 2006, to September 30, 2006.
  • Hoku Scientific's chairman, president, and CEO, Dustin Shindo, has stated that the new contract demonstrates the strength of the company's relationship with Nissan and their commitment to developing fuel cell cars and trucks.
  • The contract was signed in February 2006, and the companies will conduct joint testing to meet the contract goals.
  • Hoku Scientific has revised its top-line revenue guidance for its fourth fiscal quarter ending March 31, 2006, and the revenue expected to be recognized under this contract was included in the revised projection.

Statistics:

  • Hoku Scientific's revenue guidance for its fourth fiscal quarter ending March 31, 2006, has been revised to include the revenue expected to be recognized under the new contract with Nissan Motor Co., Ltd.
  • The joint testing of newer versions of Hoku Membrane and Hoku MEA will be conducted from January 1, 2006, to September 30, 2006.
  • Hoku Scientific is the designer, developer, and manufacturer of MEAs and membranes for proton exchange membrane (PEM) fuel cells.

Sources:

  • Hoku Scientific, Inc. - NASDAQ: HOKU
  • Nissan Motor Co., Ltd. - NASDAQ: NSANY
  • Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 01-06-2006 for NSANY @ $21.63.

Read more