Hoku Scientific Inc. is now majority owned by Tianwei New Energy Holdings Co. after receiving financial help from the Chengdu, China-based company.

Tianwei now owns 60 percent of Hoku’s shares and can scoop up 10 million more shares under its agreement with Hoku. Tianwei got the ownership stake in return for cancelling $50 million Hoku owed to it and arranging $50 million of financing through the China Construction Bank.
Tianwei also may help obtain more financing to finish construction on Hoku’s Idaho polysilicon plant.