Item 1.01. Entry into a Material Definitive Agreement .

Agreement with BHS Acquisitions, LLC.

On November 19, 2008, Hoku Materials, Inc., a wholly owned subsidiary of Hoku Scientific, Inc., or Hoku Materials, entered into a Supply Agreement, or the Agreement, with BHS Acquisitions, LLC, or BHS, for the supply of hydrochloric acid, or HCl, to Hoku Materials for use in its planned polysilicon production facility in Pocatello, Idaho. The term of the Agreement is eight years. Each year during the term of the Agreement, BHS has agreed to sell to Hoku Materials, and Hoku Materials has agreed to purchase from BHS, specified volumes of HCl that meet certain purity specifications. The volume is fixed during each of the eight years. Pricing is fixed for the first twelve months of shipments, which are planned to begin on June 30, 2009, and the aggregate net value of the HCl to be purchased by Hoku Materials under the Agreement in the first twelve months is approximately $2.4 million. Pricing is to be renegotiated for each of the remaining years of the Agreement; however, if the parties are unable to agree on pricing for any future year, then either party may terminate the Agreement without liability to the other party. Either party may also terminate the Agreement under certain circumstances, including a material breach by the other party that has not been cured within a specified cure period, or the other party's voluntary or involuntary liquidation.

The Agreement will be filed as an exhibit to our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2008.

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