----

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| Delaware                                                      | 99-0351487                             |
|---------------------------------------------------------------|----------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification Number) |

| Title of each class                     | Name of each exchange on which registered |
|-----------------------------------------|-------------------------------------------|
| Common Stock, par value $.001 per share | The NASDAQ Stock Market, LLC              |
|                                    | (NASDAQ Global Market)                    |

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|          | PART III                                                                                       |   |
|---------------|------------------------------------------------------------------------------------------------|--------|
| Item 10.      | Directors, Executive Officers and Corporate Governance                                    | 4      |
| Item 11. | Executive Compensation                                                                         | 8      |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 19     |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      | 21     |
| Item 14. | Principal Accounting Fees and Services                                                         | 24     |
|          |                                                                                           |   |
|          | PART IV                                                                                        |   |
| Item 15. | Exhibits and Financial Statement Schedules                                                     | 25     |
|          | Signatures                                                                                     |   |

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| Yu Wen, Age 38  | Mr. Wen has served as a member of our Board since December 2009.  Since 2008, Mr. Wen has served as Deputy Chairman of Tianwei.  He has also served since 2009 as the President and as a Director of Chengdu Industry Investment & Industry Innovation Investment Co., Ltd.  From May 2005 to August 2009, Mr. Wen served as Deputy Chairman of Tongfang Investment Co., Ltd.  From 2003 to 2004, Mr. Wen served as Chairman of Shenzhen Yuanhong Venture Investment Co. Ltd.  From 2003 to 2004, Mr. Wen served as the Group Leader of All-China Federation of Industry & Commerce Youth Entrepreneur League Arrangement Group.  Mr. Wen has a B.S. in Basic Medical from Beijing Medical University and a B.S. in International Finance from the Central University of Finance and Economics.  Mr. Wen’s extensive experience and knowledge in the capital investment of energy and solar industries provides the Board with significant expertise in analyzing our strategic planning and financing transactions.                                                                                                                                                                                                                                                                                                                                                                                      |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Zhong Li, Age 41     | Mr. Li has served as a member of our Board since December 2009.  Mr. Li has served since 2006 as the Vice General Manager and Member of the CPC Committee of Baoding Tianwei Baobian Electric Co., Ltd., an affiliate of Tianwei.  He has served since 2007 as General Manager and a Board Member of Tianwei Sichuan Silicon Co., Ltd., an affiliate of Tianwei.  Since 2007, Mr. Li has served as a Board Member of Tianwei, and as a Board Member of Sichuan Xinguang Silicon-Tech Co., Ltd., Leshan Ledian Tianwei Silicon-Tech Co., Ltd. and Tibet Huaguan Technology Co., Ltd., respectively, each an affiliate of Tianwei.  From 2006 to 2007, Mr. Li served as the Vice General Manager of Sichuan Xinguang Silicon-Tech Co., Ltd., an affiliate of Tianwei.  In 2007, he served as the Team Leader of the Steering Committee of Tianwei.  From 2004 to 2005, he served as the General Manager of Baoding Tianwei Cemecon Coating Technology Co., Ltd., an affiliate of Tianwei.  Mr. Li has a B.S. in Engineering Management from Nanhua University and an M.B.A. from Tianjin University.  Mr. Li brings to the Board significant experiences and knowledge in the clean energy market in the People’s Republic of China where we have focused our efforts, and his affiliation with Tianwei, our largest stockholder, provides the Board with an important perspective on our business operations. |

| Scott B. Paul, Age 36 | Effective April 1, 2010, Mr. Paul has been appointed by our Board of Directors to succeed Dustin M. Shindo as President and Chief Executive Officer.  Mr. Paul has served as our Chief Operating Officer since November 2008.  Previously, he served as our Vice President, Business Development and General Counsel from July 2003 to November 2008.  Mr. Paul was also our Secretary from November 2004 to March 2005.  From June 2002 to June 2003, Mr. Paul was Associate General Counsel and Director of Business Development at Read-Rite Corporation, a component supplier for hard disk and tape drives.  From April 2000 to June 2002, he was an attorney in the Business and Technology Group at Brobeck, Phleger & Harrison LLP, a law firm.  From October 1999 to April 2000, Mr. Paul was an attorney in the Business Solutions Group at Crosby, Heafey, Roach & May, now Reed Smith Crosby Heafey, LLP, a law firm, and from October 1998 to October 1999, he was an attorney at Ropers, Majeski, Kohn & Bentley, a law firm.  Mr. Paul has a B.A. in Psychology from the University of California, Los Angeles and a J.D. from Santa Clara University School of Law.   Mr. Paul brings to the Board extensive skills and experiences in executive management, corporate governance and legal matters. In addition, Mr. Paul’s intimate and historical knowledge of our operations provides the board with an in-depth understanding of our business. |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Karl E. Stahlkopf, Ph.D., Age 69 | Dr. Stahlkopf has served as a member of our Board since July 2002. He is currently a Partner and Director of Sennet Renewables, a merchant bank, where he is focused on the financing of renewable energy projects.  He joined Sennet in July 2009.  Dr. Stahlkopf was Senior Vice President, Energy Solutions and Chief Technology Officer of Hawaiian Electric Company, Inc., a subsidiary of Hawaiian Electric Industries, Inc. from May 2002 until July 2009.  While at Hawaiian Electric Dr. Stahlkopf also served as President of Renewable Hawaii, Inc., the renewable energy subsidiary of Hawaiian Electric Company, Inc.  From November 1973 to April 2002, Dr. Stahlkopf served as Vice President of Power Delivery and Utilization at Energy Power Research Institute, or EPRI, an independent, non-profit center for electricity and environmental research.  During his tenure at EPRI, Dr. Stahlkopf was also a founder and served as the President and Chief Executive Officer of EPRI Solutions, a subsidiary of EPRI, and was Chairman of the board of directors of Sure-Tech, LLC, a manufacturer of power electronic devices.  Dr. Stahlkopf has a B.S. in Electrical Engineering and Naval Science from the University of Wisconsin and an M.S. and Ph.D. in Nuclear Engineering from the University of California, Berkeley.  Dr. Stahlkopf’s extensive experience in the energy industry, particularly his background and knowledge in developing and financing renewable energy projects and technologies, provides the Board with significant insight and expertise with respect to our operations.  |
|----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Yi Zheng, Ph.D., Age 36          | Dr. Zheng has served as a member of our Board since December 2009.  Dr. Zheng has served since 2009 as the President of Yuanhong Venture Capital Co., Ltd.  He has also served since 2007 as a Venture Partner for Lightspeed Venture Partners.  Dr. Zheng served as a director of Tianwei from April 23, 2009 to August 1, 2009.  From 2004 to 2007, Dr. Zheng served as the Managing Director of Investment of TongFang Co., Ltd. In 2003, Dr. Zheng co-founded and served as Chief Financial Officer of Baihe.com.  From 2002 to 2003, he served as an Associate of TPG-Newbridge Capital, LLC.  Dr. Zheng has an M.S. in Environmental Engineering from Tsinghua University, a Ph.D. in Civil and Environmental Engineering from the University of California, Davis, and a Master of Financial Engineering from the University of California, Berkeley.  Dr. Zheng’s strong background and expertise in finance, auditing and investment management provide him with the skills and qualifications to serve as a director of the Board and contribute significantly to the Board’s understanding of our strategic and financing planning and transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

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| Dean K. Hirata, Age 53  | Mr. Hirata has served as a member of our Board since January 2007.  From 2006 to May 2010, Mr. Hirata served as Vice Chairman and Chief Financial Officer of Central Pacific Financial Corp., the holding company of Central Pacific Bank.  From 2004 to 2006, he served as Executive Vice President and Chief Financial Officer of Central Pacific Financial Corp.  From 2002 to 2004, he served as Executive Vice President and Chief Financial Officer of CB Bancshares, Inc., a bank holding company, whose principal subsidiary was City Bank.  From 1999 to 2002, he served as Senior Vice President and Chief Financial Officer of CB Bancshares.  From 1990 to 1999, Mr. Hirata served as Controller of First Hawaiian Bank.  From 1980 to 1990, Mr. Hirata was with KPMG LLP, an independent registered public accounting firm.  Mr. Hirata holds a Bachelor in Business Administration from the University of Hawaii.  Mr. Hirata’s extensive experience in financial reporting, public accounting, corporate finance and risk management brings significant expertise and knowledge to the Board, including issues relating to auditing and strategic planning.  |
|------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Wei Xia, Age 50              | Mr. Xia has served as the Chairman of our Board since December 2009.  Mr. Xia has served since 2004 as the Vice General Manager of Baoding Tianwei Group Co., Ltd., the parent company of Tianwei.  From 1999 to 2004, he served as the Vice General Manager of Baoding Tianwei Baobian Electric Co., Ltd., an affiliate of Tianwei.  From 1997 to 1999, he served as the Vice Manager of Baoding Tianwei Group Large Transformer Company, an affiliate of Tianwei.  Mr. Xia holds a Bachelor in Engineering from Lanzhou University of Technology.  Mr. Xia brings to the Board extensive knowledge and expertise in the energy industry, particularly those in the People’s Republic of China, and his affiliation with Tianwei, our largest stockholder, also provides significant expertise in the solar energy market relevant to our operations.                                                                                                                                                                                                                                                                                                                                                         |

| ·   | overseeing and monitoring: |
|--------------------|----------------------------|

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| ·   | appointing an independent registered public accounting firm to audit our financial statements; |
|--------------------|------------------------------------------------------------------------------------------------|

| ·   | preparing the Audit Committee report that the rules and regulations of the SEC require be included in our annual proxy statement; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| ·   | providing our Board with the results of its monitoring and recommendations; and |
|--------------------|---------------------------------------------------------------------------------|

| ·   | providing our Board with additional information and materials as it deems necessary to make our Board aware of significant financial matters that require the attention of our Board. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | honest and ethical conduct; |
|--------------------|-----------------------------|

| ·   | avoidance of conflicts of interest; |
|--------------------|-------------------------------------|

| ·   | full, fair, accurate, timely and understandable disclosure in reports and documents that we file with, or submit to, the SEC and in our other public communications; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | compliance with applicable governmental laws and regulations; |
|--------------------|---------------------------------------------------------------|

| ·   | prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------|

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| ·   | accountability for adherence to the Code. |
|--------------------|-------------------------------------------|

|  Name         |   | Cash Award($) |
|--------------------|--------|---------------|
| Kenton T. Eldridge |   | 70,000        |
| Dean K. Hirata     |   | 70,000        |
| Karl E. Stahlkopf  |   | 70,000        |
| Wei Xia            |   | —       |
| Yi Zheng           |   | —       |
| Yu Wen             |   | —       |
| Zhong Li           |   | —       |

----

| ·   | Annual cash retainer of $30,000. |
|--------------------|----------------------------------|

| ·   | A stock option grant with a grant date fair value of $20,000.  The option was granted on April 1, 2010 for 7,722 shares with an exercise price equal to $2.59 per share.  The option will vest in full on March 31, 2011 provided the non-employee Board member continues in service through such date.  The option has a term of 10 years subject to earlier termination upon cessation of Board service. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A restricted stock grant with a grant date fair value of $30,000.  The restricted stock was granted on April 1, 2010 covering 11,583 shares.  The grant will vest on March 31, 2011 provided the non-employee director continues in Board service through such date. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

----

| ·   | health, dental and vision insurance; |
|--------------------|--------------------------------------|

| ·   | medical and dependent care flexible spending account; |
|--------------------|-------------------------------------------------------|

| ·   | workers’ compensation benefits; and |
|--------------------|-------------------------------------------|

| ·   | short-and long-term disability, accidental death and dismemberment benefits. |
|--------------------|------------------------------------------------------------------------------|

|   |                   |                         |                   |                           | Number of shares Subject to Restricted Stock Award |
|--------|------------------------|------------------------------|------------------------|--------------------------------|----------------------------------------------------|
|   | Base Annual Salary USD | Retention Cash Bonus USD (1) | EHS Cash Bonus USD (2) | Performance Cash Bonus USD (3) | Service Vesting (4)                                | Performance-based (5) |
| CEO    | 300,000                | 100,000                      | 50,000                 | 150,000                        | 48,000                                             | 32,000 |
| CTO    | 150,000                | 50,000                       | 25,000                 | 75,000                         | 24,000                                             | 16,000 |
| CSO    | 120,000                | 40,000                       | 20,000                 | 40,000                         | 24,000                                             | 16,000 |
| CFO    | 150,000                | 50,000                       | 25,000                 | 75,000                         | 24,000                                             | 16,000 |

| (1) | 25% of the Retention Cash Bonus will be paid a the end of each quarter so long as such officer is employed as an officer at the end of the applicable quarter. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The Environmental, Health and Safety cash bonus will be paid on March 31, 2011 if we achieve a certain environmental, health and safety record for fiscal 2011. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The performance cash bonus is separated into three equal parts, each with part being paid if we achieve in fiscal 2011 a specified construction or operations milestone related to our polysilicon plant.  The amount that such officer earns from each part of the performance cash bonus shall be paid on March 31, 2011. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Each share of guaranteed restricted stock will be granted on April 1, 2010, and vest on March 31, 2011, provided that the officer continues as our employee as of the vesting date. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Each share of performance based restricted stock will be granted on April 1, 2010 and vest if certain financial and operation goals are achieved.  If the applicable performance goal is achieve, as certified by our Compensation Committee, the related shares will vest as of the date of certification.  In each case, if the performance goal is not achieved, the restricted shares will be forfeited on the date such determination is made. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name and Principal Position                      |   | Year   |   | Salary($)                       |   | Bonus(4) (1) |   | StockAwards($)(2) |   | Non-Equity Incentive PlanCompensation ($) |   | All Other Compensation ($)                                |   | Total ($)                       |
|--------------------------------------------------|--------|--------|--------|---------------------------------|--------|--------------|--------|-------------------|--------|-------------------------------------------|--------|-----------------------------------------------------------|--------|---------------------------------|
|                                             |   |   |   |                            |   |         |   |              |   |                                      |   |                                                      |   |                            |
| Dustin M. Shindo                                 |   | 2010   |   |     380,000 |   | 100,000      |   | 123,600           |   |                                      |   |         41,046(3) |   |     644,646 |
|                                             |   | 2009   |   | 380,000                         |   |         |   | —           |   | —                                   |   | 59,129(7)                                                 |   | 439,129                         |
| President and Chief Executive Officer            |   | 2008   |   | 380,000                         |   |         |   | 1,034,280         |   | 760,000                                   |   | 52,944(5)                                                 |   | 2,227,224                       |
|                                             |   |   |   |                            |   |         |   |              |   |                                      |   |                                                      |   |                            |
| Darryl S. Nakamoto                               |   | 2010   |   | 120,000                         |   | 40,000       |   | 106,040           |   |                                      |   | 9,325(4)                                                  |   | 275,365                         |
|                                             |   | 2009   |   | 120,000                         |   |         |   | 101,520           |   | —                                   |   | 556(4)                                                    |   | 222,076                         |
| Chief Financial Officer, Treasurer and Secretary |   | 2008   |   | 90,000                          |   |         |   | 44,996            |   | 180,000                                   |   | —                                                   |   | 314,996                         |
|                                             |   |   |   |                            |   |         |   |              |   |                                      |   |                                                      |   |                            |
| Scott B. Paul                                    |   | 2010   |   | 120,000                         |   | 40,000       |   | 126,640           |   |                                      |   | 11,540(4)                                                 |   | 298,180                         |
|                                             |   | 2009   |   | 120,000                         |   |         |   | 101,520           |   | —                                   |   | 7,227(4)                                                  |   | 228,747                         |
| Chief Operating Officer                          |   | 2008   |   | 90,000                          |   |         |   | 44,514            |   | 180,000                                   |   | 6,587(4)                                                  |   | 321,101                         |
|                                             |   |   |   |                            |   |         |   |              |   |                                      |   |                                                      |   |                            |
| Karl M. Taft, III                                |   | 2010   |   | 120,000                         |   | 40,000       |   | 113,920           |   |                                      |   | 2,983(4)                                                  |   | 276,903                         |
|                                             |   | 2009   |   | 120,000                         |   |         |   | 135,360           |   | —                                   |   | 947(4)                                                    |   | 256,307                         |
| Chief Technology Officer                         |   | 2008   |   | 90,000                          |   |         |   | 44,378            |   | 180,000                                   |   | 3,929(6)                                                  |   | 318.307                         |

| (1) | Represents a retention bonus that was paid in four equal installments in each of July, September, December and March of fiscal 2010. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The amounts shown in this column for each fiscal year represents the aggregate the grant date fair value for the restricted stock awards made in that year.  The grant date fair values were calculated in accordance with FASB Standards Codification Topic 718 (“ASC Topic 718”) on the basis of the closing price of the Company’s common stock on the award date and does not take into account the impact of estimated forfeitures related to service-based vesting conditions.  The assumptions used in the calculation of these amounts are included in Note 8, “Stockholders’ Equity—Stock-Based Compensation” to our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended March 31, 2010. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | This amount represents (i) $6,572 for personal expenses, (ii) $14,566 for wages for an hourly employee to assist Mr. Shindo with personal responsibilities, (iii) $6,915 as a gross up to cover the personal income taxes incurred by Mr. Shindo as a result of such payments and (iv) $12,993 for the cost of medical coverage for Mr. Shindo’s family members.. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | This amount represents the cost of medical coverage for the executive’s family members. |
|-----|-----------------------------------------------------------------------------------------------|

| (5) | This amount represents $45,571 in fringe benefits and $7,373 for the cost of medical coverage for the executive’s family members. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| (6) | This amount represents $1,445 in fringe benefits and $2,484 for the cost of medical coverage for the executive’s family members. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------|

| (7) | This amount represents $51,145 in fringe benefits and $7,984 for the cost of medical coverage for the executive’s family members. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

----

| Name               |   | GrantDate |   | Approval Date of Grant |   | Number of shares of stock or units(#) (2) |   | Grant Date Fair Value of Stock and Option Awards ($) (3) |   |
|--------------------|--------|-----------|--------|------------------------|--------|-------------------------------------------|--------|----------------------------------------------------------|--------|
| Dustin M. Shindo   |   | 8/04/09   |   | 7/27/09(2)             |   | 60,000                                    |   | 123,600                                                  |   |
|               |   |      |   |                   |   |                                      |   |                                                     |   |
| Darryl S. Nakamoto |   | 6/16/09   |   | 2/07/07(1)             |   | 12,000                                    |   | 23,640(                                                  |   |
|               |   | 8/4/09    |   | 7/27/09(2)             |   | 40,000                                    |   | 82,400                                                   |   |
| Scott B. Paul      |   | 6/16/09   |   | 2/07/07(1)             |   | 12,000                                    |   | 23,640                                                   |   |
|               |   | 8/4/09    |   | 7/27/09(2)             |   | 50,000                                    |   | 103,000                                                  |   |
| Karl M. Taft III   |   | 6/16/09   |   | 2/07/07(1)             |   | 16,000                                    |   | 31,520                                                   |   |
|               |   | 8/4/09    |   | 7/27/09(2)             |   | 40,000                                    |   | 82,400                                                   |   |

| (1) | In February 2007, the Independent Members determined that Mr. Nakamoto, Mr. Paul and Mr. Taft would be eligible to receive stock option grants for 18,000, 18,000 and 24,000 shares, respectively, of our common stock in fiscal 2009 pursuant to our 2005 Equity Incentive Plan.  Each stock option grant was to be issued on the third business day following the announcement of our results for the applicable fiscal year, subject to certain limitations.  Each option grant was to vest monthly over a one-year period, commencing on April 1, 2012 for the fiscal 2009 option grant.  In March 2008, the Independent Members determined that Mr. Nakamoto, Mr. Paul and Mr. Taft would receive grants of restricted stock of 12,000, 12,000 and 16,000 shares, respectively, of our common stock in fiscal 2009 pursuant to our 2005 Equity Incentive Plan, in lieu of the grant of previously approved stock options which were never issued.  Each restricted stock grant for fiscal 2010 was issued on June 16, 2009.  Each restricted stock award will vest in four equal quarterly installments commencing April 1, 2011. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | In July 2009, the Independent Members determined that Mr. Shindo, Mr. Nakamoto, Mr. Paul and Mr. Taft would be eligible to receive restricted stock awards of 60,000, 40,000, 50,000 and 40,000 shares, respectively, of our common stock in fiscal 2010 pursuant to our 2005 Equity Incentive Plan.  Each restricted stock award was issued on August 4, 2009.  Each restricted stock award will vest in two equal installments on each of January 31, 2010 and July 31, 2010. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Represents the aggregate grant date fair value of the restricted stock awards, calculated in accordance with ASC Topic 718.  Such grant date fair value is accordingly based on the closing price of the Company’s common stock on the grant date and does not take into account any estimated forfeitures related to service-vesting conditions. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|               |   | Option Awards                                                       |   |   | Stock awards                                                          |   |
|--------------------|--------|---------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|
| Name               |   | Number of securities underlying unexercised options (#) exercisable |   |   | Number of securities underlying unexercised options (#) unexercisable |   |   | Option exercise price ($) |   |   | Option expiration date |   |   | Number of shares or units of stock that have not vested (#) |   |   | Market value of shares or units of stock that have not vested ($)(8) |   |
|               |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dustin M. Shindo   |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
|               |   | —                                                             |   |   | —                                                               |   |   | — |   |   | — |   |   | 30,000 | (4) |   | 77,400 |   |
|               |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Darryl S. Nakamoto |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
|               |   | 33,333                                                              | (1)    |   | 26,667                                                                | (2)    |   | 2.60 |   |   | 07/24/16 |   |   | 44,000 | (5) |   | 113,520 |   |
|               |   | —                                                             |   |   | —                                                               |   |   | — |   |   | — |   |   | — |   |   | — |   |
|               |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Scott B. Paul      |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
|               |   | 33,333                                                              | (3)    |   | —                                                               |   |   | 0.375 |   |   | 12/13/14 |   |   | 49,000 | (6) |   | 126,400 |   |
|               |   | 33,333                                                              | (1)    |   | 26,667                                                                | (2)    |   | 2.60 |   |   | 07/24/16 |   |   | — |   |   | — |   |
|               |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Karl M. Taft III   |   |                                                                |   |   |                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
|               |   | 33,333                                                              | (1)    |   | 26,667                                                                | (2)    |   | 2.60 |   |   | 07/24/16 |   |   | 52,000 | (7) |   | 134,160 |   |

----

| (1) | Represents the vested portion of stock options granted under our 2005 Equity Incentive Plan on July 24, 2006 for 60,000 shares of common stock.  Each option is immediately exercisable for all the option shares subject to the Company’s right to repurchase any unvested shares upon the executive officer’s termination.  1/36th of the shares vest on a monthly basis commencing on the second anniversary of the date of the grant.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below.  Each stock option has a ten year term.  Stock options generally terminate three months after termination of an optionee’s service for any reason other than disability or death, 12 months after termination due to disability and 18 months after termination due to death. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Represents the unvested portion of stock options granted on July 24, 2006 for 60,000 shares of common stock. |
|-----|--------------------------------------------------------------------------------------------------------------|

| (3) | Represents the vested portion of a stock option granted on December 13, 2004 for 33,333 shares. 1/36th of the shares vest on a monthly basis commencing on the second anniversary of the date of the grant.  As of March 31, 2010, the option was fully vested. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Represents (i) the unvested portion of a restricted stock award covering 30,000 shares granted on August 4, 2009 which vests on January 31, 2010.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Represents (i) the unvested portion of a restricted stock award covering 12,000 shares granted on May 16, 2008, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2010, (ii) the unvested portion of a restricted stock award covering 12,000 shares granted on June 16, 2009, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2011, and (iii) the unvested portion of a restricted stock award covering 20,000 shares granted on August 4, 2009, which vests on January 31, 2010.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Represents (i) the unvested portion of a restricted stock award covering 12,000 shares granted on May 16, 2008, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2010, (ii) the unvested portion of a restricted stock award covering 12,000 shares granted on June 16, 2009, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2011, and (iii) the unvested portion of a restricted stock award covering 25,000 shares granted on August 4, 2009, which vests on January 31, 2010.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (7) | Represents (i) the unvested portion of a restricted stock award covering 16,000 shares granted on May 16, 2008, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2010, (ii) the unvested portion of a restricted stock award covering 16,000 shares granted on June 16, 2009, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2011, and (iii) the unvested portion of a restricted stock award covering 20,000 shares granted on August 4, 2009, which vests on January 31, 2010.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (8) | Value determined based on USD $2.58,  the closing price of our common stock on March 31, 2010, the last market trading day for fiscal 2010, as reported on the NASDAQ Global Market, multiplied by the number of restricted stock awards. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|               |   | Option Awards                               |   |   | Stock Awards                     |   |
|--------------------|--------|---------------------------------------------|--------|--------|----------------------------------|--------|
| Name               |   | Number of Shares Acquired on Exercise(#)(1) |   |   | Value Realized on Exercise($)(2) |   |   | Number of shares Acquired on Vesting(#)(1) |   |   | Value Realized on Vesting($)(3) |   |
| Dustin M. Shindo   |   | —                                     |   |   | —                          |   |   | 30,000 |   |   | 74,400 |   |
| Darryl S. Nakamoto |   | 27,667                                      |   |   | 61,319                           |   |   | 20,000 |   |   | 49,600 |   |
| Scott B. Paul      |   | 47,500                                      |   |   | 124,589                          |   |   | 25,000 |   |   | 62,000 |   |
| Karl M. Taft, III  |   | 33,333                                      |   |   | 89.166                           |   |   | 20,000 |   |   | 49,600 |   |

----

| (1) | Represents shares that vested during fiscal 2010 relating to previously granted stock options or restricted stock awards. |
|-----|---------------------------------------------------------------------------------------------------------------------------|

| (2) | Value determined based on the closing price of our common stock as reported on the NASDAQ Global Market on the date of exercise, less the applicable exercise price, multiplied by the number of shares for which the options were exercised during fiscal 2009.  Amounts exclude values that are realized upon vesting. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Value determined based on the closing prices of our common stock as reported on the NASDAQ Global Market on the applicable vesting date, multiplied by the number of shares as to which the award vested on such date. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Equity Acceleration |   | Termination without CauseFollowing a Change in Control(1) |   |
|---------------------|--------|-----------------------------------------------------------|--------|
| Dustin M. Shindo    |   | $                                                         | 38,700 |   |
| Darryl S. Nakamoto  |   | $                                                         | 56,760 |   |
| Scott B. Paul       |   | $                                                         | 63,210 |   |
| Karl M. Taft        |   | $                                                         | 67,080 |   |

|  Name and Address of Beneficial Owner                                                                               |   | Number of Shares Beneficially Owned |   |   | Percentage of Shares Beneficially Owned |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|--------|--------|-----------------------------------------|--------|
|                                                                                                                     |   |
| Tianwei New Energy Holdings Co., Ltd.No. 1 Tianwei RoadSouthwest Airport Economic Development ZoneChengdu Sichuan, China |   | 43,379,287                          | (1)    |   | 66.64                                   | %      |
|                                                                                                                     |   |                                |   |   |                                    |   |
| Wei Xia                                                                                                                  |   | —                             |   |   | —                                 |   |
| Yi Zheng                                                                                                                 |   | 11,583                              |   |   | *                                       |   |
| Yu Wen                                                                                                                   |   | —                             |   |   | —                                 |   |
| Zhong Li                                                                                                                 |   | —                             |   |   | —                                 |   |
| Dustin M. Shindo                                                                                                         |   | 2,854,482                           | (2)    |   | 5.1                                     | %      |
| Dean K. Hirata                                                                                                           |   | 41,625                              | (3)    |   | *                                       |   |
| Karl E. Stahlkopf                                                                                                        |   | 66,142                              | (4)    |   | *                                       |   |
| Darryl S. Nakamoto                                                                                                       |   | 183,346                             | (5)    |   | *                                       |   |
| Scott B. Paul                                                                                                            |   | 259,640                             | (6)    |   | *                                       |   |
| Karl M. Taft III                                                                                                         |   | 1,065,740                           | (7)    |   | 1.93                                    | %      |
|                                                                                                                     |   |                                |   |   |                                    |   |
| All executive officers and directors as a group (9 persons)                                                              |   | 1,628,076                           | (8)    |   | 2.94                                    | %      |

----

| * | Less than one percent. |
|---|------------------------|

| (1) | Consists of 33,379,287 shares of common stock and 10,000,000 shares of common stock issuable upon exercise of a warrant issued to Tianwei in connection with the investment transaction that closed on December 22, 2009.  Based on a Schedule 13D filed by Tianwei on September 30, 2009, as amended by a Schedule 13D/A filed by Tianwei on December 31, 2009, each of Tianwei and Baoding Tianwei Group Co., Ltd. has sole voting and dispositive power over an aggregate of 43,379,287 shares.  We entered into an investors rights agreement with Tianwei in connection with its investment that was closed in December 2009, pursuant to which Tianwei has the right to designate four nominees to our board will terminate upon the earlier of (i) Tianwei (together with its affiliates) ceasing to be our largest individual stockholder or (i) Tianwei (together with its affiliates) owning less than 25% of the outstanding shares of our common stock. See also “Item 13. Certain Relationships and Related Transactions, and Director Independence—Relationship with Tianwei.” |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Consists of 2,854,482 shares held in the Dustin M. Shindo Trust dated September 23, 2005, which is deemed to be controlled by Mr. Shindo.  Mr. Shindo was our Chairman of the Board of Directors, President and Chief Executive Officer during the fiscal year ended March 31, 2010.  He resigned these positions effective April 1, 2010. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Includes 15,515 shares held by Mr. Hirata. Also includes 26,110 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by Mr. Hirata. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Includes 33,366 shares held by Mr. Stahlkopf. Also includes 32,776 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by Mr. Stahlkopf. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Includes 141,680 shares held by Mr. Nakamoto. Also includes 41,666 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by Mr. Nakamoto. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Includes 184,641 shares held by Mr. Paul. Also includes 74,999 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by Mr. Paul. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Includes 1,024,074 shares held in the Karl M. Taft III Trust dated November 25, 2005, which is deemed to be controlled by Mr. Taft. Also includes 41,666 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by Mr. Taft. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Includes 217,217 shares of common stock subject to options exercisable within 60 days of June 30, 2010 by the executive officers and directors.  Excludes information for Mr. Shindo whose resignation became effective on April 1, 2010. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Plan Category                                                 |   | Number of securities to be issued upon exercise of outstanding options, warrants and rights |    |   | Weighted-average exercise price of outstanding options, warrants and rights |   |    | Number of securities remaining available for issuance under equity compensation plans (excluding securities reflected in column (a)) |   |
|---------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|---------|--------|-----------------------------------------------------------------------------|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------|--------|
| Equity compensation plans approved by security holders(1)     |   |                                                                                        | 382,705 |   |                                                                        | $      | 3.03    | (3)                                                                                                                                  |   |   | 1,302,701 | (4) |
| Equity compensation plans not approved by security holders(2) |   |                                                                                        | — |   |                                                                        |   | — |                                                                                                                                 |   |   | — |   |
| Total                                                         |   |                                                                                        | 382,705 |   |                                                                        | $      | 3.03    | (3)                                                                                                                                  |   |   | 1,302,701 | (4) |

----

| (1) | This row includes our 2002 Stock Plan, 2005 Equity Incentive Plan, and 2005 Non-Employee Directors’ Stock Option Plan. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

| (2) | All of our equity compensation plans have been approved by our stockholders. |
|-----|------------------------------------------------------------------------------|

| (3) | Represents weighted average exercise price of outstanding options only. |
|-----|-------------------------------------------------------------------------|

| (4) | The number of shares of common stock reserved for issuance under our 2005 Equity Incentive Plan will automatically increase on April 1st of each year, from 2006 through 2014, in an amount equal to the lesser of 133,333 shares of our common stock or the number of shares of common stock granted pursuant to stock awards in the prior fiscal year.  The number of shares of our common stock reserved for issuance under our 2005 Non-Employee Directors’ Stock Option Plan will automatically increase on April 1st of each year, from 2006 through 2014, by the number of shares of common stock subject to options granted during the preceding fiscal year, less the number of shares that reverted back to the share reserve during the preceding fiscal year.  Our Board has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased under both plans prior to the last day of any fiscal year. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | within 30 days of the Closing, file a registration statement with the Securities and Exchange Commission, or the SEC, for the resale of 30% of the Shares and the shares underlying the Warrant, or the Registrable Securities; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | use our reasonable best efforts to have the registration statement declared effective within 90 days following the filing; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------|

| ·   | and use our reasonable best efforts to keep the shelf registration statement effective until the date on which all of the Registrable Securities have been resold pursuant to an effective registration statement or Rule 144 under the Securities Act of 1933, as amended, or the Securities Act, or are eligible for resale without restriction under Rule 144. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

|               |   | Fiscal Year EndedMarch 31, |    |
|--------------------|--------|----------------------------|---------|
|               |   | 2010                       |    |   | 2009 |   |
| Audit Fees         |   | $                          | 377,000 |   |   | $ | 431,492 |   |
| Audit-related Fees |   |                       | — |   |   |   | 13,700 |   |
| Tax Fees           |   |                       | 28,000  |   |   |   | 20,000 |   |
| All Other Fees     |   |                       | — |   |   |   | — |   |
| Total Fees         |   | $                          | 405,000 |   |   | $ | 465,192 |   |

----

|   | HOKU CORPORATION |                                                             |
|--------|------------------|------------------------------------------------------------------|
|   |             |                                                             |   |
|   | By:              | /s/    Scott B. Paul     |   |
|   |             | Scott B. Paul                                                    |   |
|   |             |                                                             |   |
|   |             | President, Chief Executive Officer and Director                  |   |

| Date: July 29, 2010 |
|---------------------|

| Signature                                                                  |    | Title                                                   |   | Date          |
|----------------------------------------------------------------------------|--------------|---------------------------------------------------------|--------|---------------|
|                                                                       |         |                                                    |   |          |
| /s/ SCOTT B. PAUL                                                          |         | President, Chief Executive Officer and                  |   | July 29, 2010 |
| Scott B. Paul                                                              |         |    Director(Principal Executive Officer) |   |          |
|                                                                       |         |                                                    |   |          |
|  /s/ DARRYL S. NAKAMOTO                                               |         | Chief Financial Officer, Treasurer                      |   | July 29, 2010 |
| Darryl S. Nakamoto                                                         |         |    and Secretary (Principal Financial and     |   |          |
|                                                                       |         |    Accounting Officer)                        |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                                |   | July 29, 2010 |
| Karl E. Stahlkopf                                                          |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                                |   | July 29, 2010 |
| Dean K. Hirata                                                             |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                                |   | July 29, 2010 |
| Zhong Li                                                                   |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                                |   | July 29, 2010 |
| Yu Wen                                                                     |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                           |   | July 29, 2010 |
| Wei Xia                                                                    |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *                                                                          |         | Director                                                |   | July 29, 2010 |
| Yi Zheng                                                                   |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
|                                                                       |         |                                                    |   |          |
| *By         /s/ Scott B. Paul |         |                                                    |   |          |
| Scott B. PaulAttorney-in-Fact                                              |         |                                                    |   |          |
|                                                                       |    |                                                    |   |          |

----

| ExhibitNo. |         | Exhibit Description                                                                                                                                           |         | Form   |         | File Number                                                                     |         | Exhibit |         | FilingDate |         | FiledHerewith |
|------------|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------------|--------------------------------------------------------------------------------------|--------------|---------|--------------|------------|--------------|---------------|
|       |         |                                                                                                                                                          |         |   |         |                |         |    |         |       |         |          |
| 2.1        |         | Securities Purchase Agreement, dated as of  September 28, 2009, by and between Tianwei New Energy Holdings Co., Ltd. and Hoku Scientific, Inc.      |         | 8-K    |         | 000-51458                                                                            |         | 2.1     |         | 9/29/09    |         |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 3.1        |    | Amended and Restated Certificate of Incorporation                                                                                                             |    | 10-K   |         | 000-51458                                                                            |         | 3.1     |         | 7/14/10    |    |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 3.2        |         | Amended and Restated Bylaws                                                                                                                                   |         | 8-K    |         | 000-51458                                                                            |         | 3.2     |         | 10/23/07   |         |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 3.3        |         | Amendment to Amended and Restated Bylaws                                                                                                                      |         | 10-K   |         | 000-51458                                                                            |         | 3.3     |         | 7/14/10    |    |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 3.4        |         | Certificate of Amendment of the Amended and Restated Certificate of Incorporation                                                                             |         | 8-K    |         | 000-51458                                                                            |         | 3.3     |         | 3/19/10    |         |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 4.1        |    | Specimen Common Stock Certificate                                                                                                                             |    | S-1/A  |    | 333-124423                                                                           |    | 4.1     |    | 6/2/05     |    |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 4.2        |         | Warrant for the Purchase of Shares of Common Stock of Hoku Scientific, Inc., dated December 22, 2009, issued to Tianwei New Energy Holdings Co., Ltd.         |         | 8-K/A  |         | 000-51458                                                                            |         | 4.4     |         | 12/31/09   |         |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 4.3        |         | Investor Rights Agreement, dated as of December 22, 2009, between Tianwei New Energy Holdings Co., Ltd. and Hoku Scientific, Inc.                             |         | 8-K/A  |         | 000-51458                                                                            |         | 4.5     |         | 12/31/09   |         |          |
|       |         |                                                                                                                                                          |         |   |         |                                                                                 |         |    |         |       |         |          |
| 4.4        |         | Form of Lock-Up Agreement, dated December 22, 2009, between Tianwei New Energy Holdings Co., Ltd. and certain officers and directors of Hoku Scientific, Inc. |         | 8-K/A  |         | 000-51458                                                                            |         | 4.6     |         | 12/31/09   |         |          |

----

| 10.2+         |    | Form of Addendum to Stock Option Agreement under the 2002 Stock Plan, as amended, by and between Scott Paul and Hoku Scientific, Inc.                                   |    | S-1     |    | 333-124423 |    | 10.6   |    | 4/28/05  |    |   |
|---------------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|---------|--------------|------------|--------------|--------|--------------|----------|--------------|--------|
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.3+         |    | Form of Addendum to Stock Option Agreement under the 2002 Stock Plan, as amended, by and between each of the non-employee directors and Hoku Scientific, Inc.           |    | S-1     |    | 333-124423 |    | 10.7   |    | 4/28/05  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.4          |    | Form of Indemnity Agreement entered into between Hoku Scientific, Inc. and each of its directors and officers                                                           |    | S-1     |    | 333-124423 |    | 10.8   |    | 4/28/05  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.5+         |    | 2002 Stock Plan, as amended                                                                                                                                             |    | S-1     |    | 333-124423 |    | 10.9   |    | 4/28/05  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.6+         |    | Form of Stock Option Agreement under the 2002 Stock Plan, as amended                                                                                                    |    | S-1     |    | 333-124423 |    | 10.10  |    | 4/28/05  |    |   |
| 10.7+         |    | 2005 Equity Incentive Plan                                                                                                                                              |    | 8-K     |    | 000-51458  |    | 10.11  |    | 9/13/06  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.8+         |    | Form of Stock Option Agreement under the 2005 Equity Incentive Plan                                                                                                     |    | 8-K     |    | 000-51458  |    | 10.12  |    | 9/13/06  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.9+         |    | 2005 Non-Employee Directors’ Stock Option Plan                                                                                                                    |    | S-1/A#4 |    | 333-124423 |    | 10.13  |    | 7/13/05  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.10+        |    | Form of Stock Option Agreement under the 2005 Non-Employee Directors’ Stock Option Plan                                                                           |    | S-1/A#4 |    | 333-124423 |    | 10.14  |    | 7/13/05  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.11         |    | Ground Lease, dated March 22, 2007, by and between Hoku Materials, Inc. and The City of Pocatello                                                                       |    | 8-K     |    | 000-51458  |    | 10.38  |    | 3/28/07  |    |   |
|          |         |                                                                                                                                                                    |         |    |         |       |         |   |         |     |         |   |
| 10.12 † |         | Agreement for Engineering of Hoku Electric Substation and Associated Facilities, dated June 14, 2007, by and between Idaho Power Company and Hoku Materials, Inc.  |         | 10-Q    |         | 000-51458  |         | 10.47  |         | 08/06/07 |         |   |
| 10.13 † |         | Cost Plus Incentive Construction Contract, dated August 8, 2007, by and between JH Kelly LLC and Hoku Materials, Inc.                                                   |         | 10-Q    |         | 000-51458  |         | 10.52  |         | 11/13/07 |         |   |

----

| 10.14 †   |   | Engineering, Procurement and Construction Management Agreement, dated August 7, 2007, by and between Stone & Webster, Inc. and Hoku Materials, Inc.                                                |   | 10-Q   |   | 000-51458 |   | 10.53  |   | 11/13/07     |         |   |
|---------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|--------------|--------------|--------|
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.15                |   | Change Order Number 1 to Engineering, Procurement & Construction Management Agreement, dated October 3, 2007, by and between Hoku Materials, Inc. and Stone & Webster, Inc.                    |   | 10-K   |   | 000-51458 |   | 10.15  |   | 7/14/10      |    |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.16 †             |   | Engineering Services and Technology Transfer Agreement, dated October 6, 2007, by and between Dynamic Engineering Inc. and Hoku Materials, Inc.                                                        |   | 10-Q   |   | 000-51458 |   | 10.55  |   | 11/13/07     |         |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.17 †             |   | Amendment and Restatement of Contract, dated October 15, 2007, by and between Graeber Engineering Consultants GmbH and MSA Apparatus Construction for Chemical Equipment Ltd. and Hoku Materials, Inc. |   | 10-Q   |   | 000-51458 |   | 10.56  |   | 11/13/07     |         |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.18                     |   | Registration Rights Agreement, dated February 29, 2008, by and among Hoku Scientific, Inc., and the Purchasers named therein                                                                           |   | 8-K    |   | 000-51458 |   | 10.65  |   | 02/29/08     |         |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.19                     |   | Amendment No. 1 to Engineering Services & Technology Transfer Agreement, dated April 4, 2008, by and between Hoku Materials, Inc and Dynamic Engineering Inc.                                      |   | 8-K    |   | 000-51458 |   | 10.67  |   | 04/09/08     |         |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.20 †             |   | Equipment Purchase & Sale Agreement, dated March 4, 2008, by and between Hoku Materials, Inc. and Saft Power Systems USA Inc.                                                                      |   | 10-K   |   | 000-51458 |   | 10.68  |   |  6/6/08 |         |   |
|                      |   |                                                                                                                                                                                                   |   |   |   |      |   |   |   |         |         |   |
| 10.21 †             |   | Change Order Number 2 to Engineering, Procurement & Construction Management Agreement, dated April 8, 2008, by and between Hoku Materials, Inc. and Stone & Webster, Inc.                 |   | 10-K   |   | 000-51458 |   | 10.69  |   |  6/6/08 |         |   |

----

| 10.22 † |   | Change Order Number 2 to Cost Plus Incentive Construction Contract, dated April 7, 2008, by and between Hoku Materials, Inc. and JH Kelly LLC                                                                                 |   | 10-K   |   | 000-51458 |   | 10.70  |   | 6/6/08   |   |   |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|----------|--------|--------|
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.23 † |   | Equipment Purchase & Sale Agreement, dated April 8, 2008, by and between Hoku Materials, Inc and PVA Tepla Danmark                                                                                                        |   | 10-K   |   | 000-51458 |   | 10.71  |   | 6/6/08   |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.24 † |   | First Amended & Restated Supply Agreement, dated as of May 12, 2008, by and between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd.                                                                  |   | 10-K   |   | 000-51458 |   | 10.72  |   | 6/6/08   |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.25†  |   | Second Amended and Restated Supply Agreement, dated as of May 13, 2008, by and between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited                                                                    |   | 10-K   |   | 000-51458 |   | 10.73  |   | 6/6/08   |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.26         |   | Amended and Restated Agreement for Construction of Hoku Electric Substation and Associated Facilities, dated September 17, 2008, between Hoku Materials, Inc. and Idaho Power Company                                         |   | 8-K    |   | 000-51458 |   | 10.79  |   | 9/22/08  |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.27         |   | Amendment No. 1 to Second Amended and Restated Supply Agreement, between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited, with Solarfun Power Holdings Co., Ltd. signing as guarantor, dated as of October 22, 2008 |   | 8-K    |   | 000-51458 |   | 10.81  |   | 10/23/08 |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.28†  |   | Supply Agreement, dated as of November 19, 2008, by and between Hoku Materials, Inc. and BHS Acquisitions, LLC                                                                                                                |   | 10-Q   |   | 000-51458 |   | 10.88  |   | 2/3/09   |   |   |
|          |   |                                                                                                                                                                                                                          |   |   |   |      |   |   |   |     |   |   |
| 10.29†  |   | Hoku Solar Power I, LLC Operating Agreement, dated as of December 23, 2008, by and between UFA Renewable Energy Fund I, LLC and Hoku Solar, Inc.                                                                              |   | 10-Q   |   | 000-51458 |   | 10.89  |   | 2/3/09   |   |   |

----

| 10.30† |   | Development Service Agreement, dated as of December 23, 2008, by and between Hoku Solar, Inc. and Hoku Solar Power I, LLC                                                                                |   | 10-Q   |   | 000-51458 |   | 10.90  |   | 2/3/09  |   |   |
|--------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|---------|--------|--------|
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.31† |   | Purchase and Sale and Operation and Maintenance Agreement, dated as of December 23, 2008, by and between Hoku Solar, Inc. and Hoku Solar Power I, LLC                                                    |   | 10-Q   |   | 000-51458 |   | 10.91  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.32        |   | Right of First Refusal Agreement, dated as of December 23, 2008, by and between UFA Renewable Energy Fund I, LLC and Hoku Solar, Inc.                                                                    |   | 10-Q   |   | 000-51458 |   | 10.92  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.33        |   | Guaranty, dated as of December 23, 2008, by and between Hoku Solar Power I, LLC; UFA Renewable Energy Fund I, LLC; Firstar Development LLC; Hoku Scientific, Inc.; and Hoku Solar, Inc.                  |   | 10-Q   |   | 000-51458 |   | 10.93  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.34        |   | Economic Development Agreement, dated as of May 27, 2009, by and between Hoku Materials, Inc. and Pocatello Development Authority                                                                        |   | 10-Q   |   | 000-51458 |   | 10.95  |   | 6/2/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.35        |   | Amendment to the Equipment Purchase & Sale Agreement dated March 4, 2008, between Hoku Materials, Inc., and AEG Power Solutions USA Inc. (fka Saft Power Systems USA Inc.), dated as of May 29, 2009 |   | 10-Q   |   | 000-51458 |   | 10.96  |   | 6/2/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.36† |   | First Amended and Restated Supply Agreement, dated as of May 21, 2009, by and between Hoku Materials, Inc. and Polymet Alloys, Inc.                                                                      |   | 10-K   |   | 000-51458 |   | 10.97  |   | 6/15/09 |   |   |

----

| 10.37† |   | Change Order Number 3 to Engineering, Procurement & Construction Management Agreement, dated February 19, 2009, by and between Hoku Materials, Inc. and Stone & Webster, Inc. |   | 10-K   |   | 000-51458 |   | 10.98  |   | 6/15/09 |         |   |
|--------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|---------|--------------|--------|
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.38† |   | Supply Agreement, dated as of February 27, 2009, by and between Hoku Materials, Inc. and Shanghai Alex New Energy Co., Ltd.                                                           |   | 10-K   |   | 000-51458 |   | 10.99  |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.39† |   | Amended & Restated Supply Agreement, dated as of February 26, 2009, by and between Hoku Materials, Inc and Jiangxi Jinko Solar Co., Ltd.                                          |   | 10-K   |   | 000-51458 |   | 10.100 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.40† |   | Amendment No. 2 to Second Amended & Restated Supply Agreement, dated as of March 26, 2009 by and between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited                |   | 10-K   |   | 000-51458 |   | 10.101 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.41† |   | Change Order Number 3 to Cost Plus Incentive Contract, dated March 27, 2009 by and between Hoku Materials, Inc. and JH Kelly LLC                                                      |   | 10-K   |   | 000-51458 |   | 10.102 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.42        |   | Amended and Restated Electric Service Agreement, between Hoku Materials, Inc., and Idaho Power Company, dated as of June 19, 2009                                                     |   | 8-K    |   | 000-51458 |   | 10.104 |   | 6/22/09 |    |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.43        |   | First Amendment to the First Amended and Restated Supply Agreement between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd., signed July 6, 2009                                 |   | 8-K    |   | 000-51458 |   | 10.105 |   | 7/10/09 |         |   |
|         |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.44        |   | Form of Entrustment Loan Contract by and among Tianwei New Energy Holdings Co. Ltd., China Construction Bank Chengdu Branch, Hoku Materials, Inc. and Hoku Scientific, Inc.           |   | 8-K    |   | 000-51458 |   | 10.108 |   | 9/29/09 |         |   |

----

| 10.45† |   | Change Order Number 4 to Cost Plus Incentives Contract, dated September 18, 2009, by and between Hoku Materials, Inc. and JH Kelly LLC                                                                |   | 10-Q   |   | 000-51458 |   | 10.109 |   | 11/9/09  |   |   |
|--------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|----------|--------|--------|
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.46† |   | Amended and Restated Supply Agreement No. 1, dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc.                                                     |   | 8-K/A  |   | 000-51458 |   | 10.110 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.47† |   | Amended and Restated Supply Agreement No. 2, dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc.                                                     |   | 8-K/A  |   | 000-51458 |   | 10.111 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.48        |   | Form of Security Agreement (relating to Amended and Restated Supply Agreements No. 1 and No. 2), dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc. |   | 8-K/A  |   | 000-51458 |   | 10.112 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.49        |   | Loan Implementation Agreement, dated December 22, 2009, among Hoku Scientific, Inc., Hoku Materials, Inc. and Tianwei New Energy Holdings Co. Ltd.                                                    |   | 8-K/A  |   | 000-51458 |   | 10.113 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.50        |   | Financing Backstop Agreement, dated December 22, 2009, between Tianwei New Energy Holdings, Co., Ltd. and Hoku Scientific, Inc.                                                                       |   | 8-K/A  |   | 000-51458 |   | 10.114 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.51† |   | Amendment No. 1 to Amended and Restated Supply Agreement, dated as of November 25, 2009, between Jinko Solar Co., Ltd. and Hoku Materials, Inc.                                                       |   | 10-Q   |   | 000-51458 |   | 10.115 |   | 2/5/10   |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.52† |   | Amendment No. 3 to Second Amended and Restated Supply Agreement, dated as of November 15, 2009, between Solarfun Power Hong Kong Limited and Hoku Materials, Inc.                                     |   | 10-Q   |   | 000-51458 |   | 10.116 |   | 2/5/10   |   |   |

----

| 10.53†        |   | Amendment No. 1 to Supply Agreement, dated as of December 30, 2009, between Shanghai Alex New Energy Co., Ltd. and Hoku Materials, Inc.                                               |   | 10-Q   |   | 000-51458 |   | 10.117 |   | 2/5/10  |         |   |
|---------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|---------|--------------|--------|
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.54               |   | Consulting Agreement, dated as of March 1, 2010, between Dustin M. Shindo and Hoku Scientific, Inc.                                                                                   |   | 8-K    |   | 000-51458 |   | 10.118 |   | 3/5/10  |         |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.55†† |   | Change Order Number 4 to Engineering, Procurement & Construction Management Agreement, dated February 16, 2010, by and between Hoku Materials, Inc. and Stone & Webster, Inc. |   | 10-K   |   | 000-51458 |   | 10.55  |   | 7/14/10 |    |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.56†† |   | Amendment No. 4 to Second Amended and Restated Supply Agreement, dated as of March 1, 2010, between Solarfun Power Hong Kong Limited and Hoku Materials, Inc.                         |   | 10-K   |   | 000-51458 |   | 10.56  |   | 7/14/10 |    |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.57†† |   | Sales Agreement, dated as of March 31, 2010, between Evonik Degussa Corporation and Hoku Materials, Inc.                                                                              |   | 10-K   |   | 000-51458 |   | 10.57  |   | 7/14/10 |    |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.58†† |   | Second Amended & Restated Supply Agreement, dated as of March 31, 2010, by and between Hoku Materials, Inc and Wealthy Rise International, Ltd.                                   |   | 10-K   |   | 000-51458 |   | 10.58  |   | 7/14/10 |    |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.59               |   | Credit Agreement, dated May 24, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch                                                                    |   | 8-K    |   | 000-51458 |   | 10.119 |   | 5/26/10 |         |   |
|                |   |                                                                                                                                                                                  |   |   |   |      |   |   |   |    |         |   |
| 10.60               |   | Reimbursement Agreement, dated May 24, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                                                       |   | 8-K    |   | 000-51458 |   | 10.120 |   | 5/26/10 |         |   |

----

| 10.61               |         | Credit Agreement, dated June 30, 2010, between Hoku Corporation and China Construction Bank Corporation, New York Branch                         |         | 8-K    |   | 000-51458 |   | 10.121 |   | 6/30/10 |   |                                             |
|---------------------|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------|-----------|--------|--------|--------|---------|--------|--------------------------------------------------|
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 10.62               |         | Reimbursement Agreement, dated June 30, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                 |         | 8-K    |   | 000-51458 |   | 10.122 |   | 6/30/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 10.63†† |         | Amendment to the First Amended and Restated Supply Agreement between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd., signed June 29, 2010 |         | 10-K   |   | 000-51458 |   | 10.63  |   | 7/14/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 21.1                |         | Subsidiaries of Hoku Corporation                                                                                                                 |         | 10-K/A |   | 000-51458 |   | 21.1   |   | 7/29/09 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 23.1                |    | Consent of independent registered public accounting firm                                                                                         |    | 10-K   |   | 000-51458 |   | 23.1   |   | 7/14/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 24.1                |    | Form 10-K Power of Attorney (included in signature page)                                                                                         |    | 10-K   |   | 000-51458 |   | 24.1   |   | 7/14/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 31.1                |    | Form 10-K Certification of Chief Executive Officer required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended                 |    | 10-K   |   | 000-51458 |   | 31.1   |   | 7/14/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |          |
| 31.2                |    | Form 10-K Certification required of Chief Financial officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended     |    | 10-K   |   | 000-51458 |   | 31.2   |   | 7/14/10 |   |                                             |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |                                             |
| 31.3                |    | Form 10-K/A Certification of Chief Executive Officer required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended               |    |   |   |      |   |   |   |    |   | *                                                |
|                |         |                                                                                                                                             |         |   |   |      |   |   |   |    |   |          |
| 31.4                |    | Form 10-K/A Certification required of Chief Financial officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended   |    |   |   |      |   |   |   |    |   | *                                                |

----

| 32.1#  |    | Form 10-K Certification of Chief Executive Officer required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended |    | 10-K   |   | 000-51458                                                                                                                                                    |   | 10.63  |   | 7/14/10 |   |                                       |
|--------|--------------|----------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|---------|--------|--------------------------------------------|
|   |         |                                                                                                                             |         |   |   |                            |   |   |   |    |   |         |
| 32.2#  |    | Form 10-K Certification of Chief Financial Officer required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended |    | 10-K   |   | 000-51458                                                                                                                                                    |   | 10.63  |   | 7/14/10 |   |                                       |

| †        | Confidential treatment has been granted for certain information contained in this document pursuant to an order of the Securities and Exchange Commission. Such information has been omitted and filed separately with the Securities and Exchange Commission.                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| †† | Confidential treatment has been requested for certain information contained in this document. Such information has been omitted and filed separately with the Securities and Exchange Commission.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| +              | Management contract, compensatory plan or arrangement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| #              | In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release Nos. 33-8238 and 34-47986, Final Rule: Management’s Reports on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports, the certifications furnished in Exhibits 32.1 and 32.2 hereto are deemed to accompany this Form 10-K and will not be deemed “filed” for purpose of Section 18 of the Exchange Act. Such certifications will not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. |