Hoku Scientific Inc., the Kapolei-based company focused on clean energy technologies, said it is continuing to make progress with the building of a polysilicon production plant in Idaho, but that its net loss widened to $1.37 million, or 7 cents a share, in its most recent quarter.

A year earlier, the company had a net loss of $1 million, or 6 cents a share.

Hoku's revenue rose almost eight-fold from a year earlier to $1.87 million as it increased photovoltaic system installations in Hawai'i. The loss came as Hoku's costs of service and license revenue ballooned.

"We believe we remain on track to meet our fiscal year 2009 revenue guidance of $15 million to $18 million, contingent on the successful third-party financing of our purchase-power agreements with the Hawai'i state Department of Transportation, Airports Division and Hawaiian Electric Co.," Hoku chairman, president, and chief executive officer Dustin Shindo said in a news statement.

The company also announced that it remains on track to "support a planned initial delivery of polysilicon in the first half of 2009. It said the plant's construction cost of $390 million is under review since the annual production capacity is being expanded to 4,000 metric tons annually from the prior 3,500 metric ton target.

Hoku also disclosed that Wealthy Rise International Ltd. (Solargiga) had not made an initial deposit of $22 million on its contract to buy polysilicon. The payment was due last month and the two companies are talking about resolving the late payment, Hoku said. The missed payment comes a little more than a month after Hoku announced a deal with Wealthy Rise, which signed a contract for up to $455 million of polysilicon.

The Hong Kong-based company was to pay Hoku a $22 million deposit within 15 days of the Sept. 4 contract signing and make an additional deposit of $21 million by Dec. 20.

Polysilicon is a material used in the cells of photovoltaic panels and in computer chips.

Hoku also announced Scott B. Paul, Hoku vice president of business development and general counsel, has been appointed chief operating officer.

"Development of our polysilicon production facility remains on track; we continue to stabilize our customer base, and we believe that we can wait until calendar year 2009 to raise additional funds through debt or equity if our customers make their scheduled prepayments on time, which is advantageous under current financial market conditions," Shindo said.

Hoku announced its quarterly results after the close of regular trading yesterday, during which its shares fell 8 cents to $5.18.