Idaho's economic hopes pinned on companies looking for cash
Two of the energy companies that Idaho is pinning its hopes on are hunting for more money.
The most dire is Hoku Manufacturing, which is building a polysilicon plant in Pocatello for solar panels. It’s President and CEO Dustin Shindo said revenue is up but it is still short of money according to the Pacific Business Journal.
“The company may not have sufficient funds to complete the construction of its polysilicon plant, or to continue as a going concern for the next 12 months,” Shindo said told the Business Journal. “While we work to identify the remaining sources of financing, we have decreased spending to match our project investment obligations with our cash inflows from customer prepayments. This has allowed us to make continued progress without jeopardizing our delivery obligations to our customers.”
Down the road Areva is planning to build a $2 billion dollar uranium enrichment plant. Bit it too is looking for strategic investors, The Financial Times reports.
Areva is certainly in no threat to go out of business since the government of France owns 80 percent of the company. Hoku Scientific, based in Hawaii, is a start-up with a lot of China money invested in it.
Hoku plans to produce up to 4,000 metric tons annually of polysilicon, at its Pocatello plant . It plans to make its first shipments later this year.
- Rocky Barker's blog
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CHINASCAM? Looks like it's gonna be toast w/Uncle Commie mad
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Supporting nothing everywhere all day and very well.
Thank you for hollering.