24 Jan 2008
Hoku announces strong Q3 results, partly driven by fuel cell successes
The clean energy technology company Hoku Scientific has reported strong results for the third financial quarter, with its continued growth driven by the successful attainment of a number of new contracts.
According to the latest figures released by the company, revenue for the quarter leading up to the end of December stood at $1.3 million, in comparison to the $1.1 million achieved over the same period in 2006.
This brought total revenue for the first nine months of the fiscal year to $4.2 million.
The company also reported that, following its successful completion of a 12-month long demonstration of its Hoku MEA in IdeTech fuel cell technology for the US Navy, it will be holding back on actively pursuing any further fuel cell provision contracts for the time being.
Instead, it plans to use 2008 to commit its resources to further developing its fuel cell technologies and shoring-up related patents.
Over recent years Hoku has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells.
© Adfero Ltd
According to the latest figures released by the company, revenue for the quarter leading up to the end of December stood at $1.3 million, in comparison to the $1.1 million achieved over the same period in 2006.
This brought total revenue for the first nine months of the fiscal year to $4.2 million.
The company also reported that, following its successful completion of a 12-month long demonstration of its Hoku MEA in IdeTech fuel cell technology for the US Navy, it will be holding back on actively pursuing any further fuel cell provision contracts for the time being.
Instead, it plans to use 2008 to commit its resources to further developing its fuel cell technologies and shoring-up related patents.
Over recent years Hoku has developed proprietary fuel cell membranes and membrane electrode assemblies for stationary and automotive proton exchange membrane fuel cells.
© Adfero LtdSource: Adfero
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