BUSINESS BRIEFS
Wind-power gizmo unveiled
Advertiser Staff and News Services
Hawaiian Electric Co. Inc. and S&C Electric Co. have announced the launch of a device designed to increase the wind power used in small and isolated power grids, such as those in Hawai'i and across the Pacific.
The PureWave Electronic Shock Absorber is a stabilizing device that uses a supercapacitor to store short-term, excess power during sudden increases in wind generation and releases that power during sudden decreases. The device was invented by Karl Stahlkopf, HECO senior vice president for energy solutions and chief technology officer, along with staff from HECO subsidiaries Hawaii Electric Light Co. and Maui Electric Co. HECO patented the concept and chose S&C Electric to design, build and commercialize the device.
A dedication ceremony for the PureWave ESA is scheduled for Tuesday at the Lalamilo Wind Farm in Kona.
HOKU SCIENTIFIC STOCK EXTENSION
Hoku Scientific Inc., a Honolulu maker of fuel cells, said today the "lock-up agreements" for investors in the company's initial public offering will be extended five days to Feb. 6.
The extension, affecting some 12.6 million shares of Hoku Scientific's common stock, means that certain investors will be able to sell the shares starting Feb. 7, subject to any resale restrictions of securities laws. Hoku shares closed today up 96 cents, at $8.67 on the Nasdaq market.
FARM UNION CUTS AFL-CIO TIES
WASHINGTON — The United Farm Workers union has left the AFL-CIO to join the breakaway Change to Win Coalition, in a move the UFW hopes will boost recruiting, officials said yesterday.
The UFW, with about 27,000 members, joins the Service Employees International Union, Teamsters, United Food and Commercial Workers, UNITE HERE and Carpenters in the dissident Change To Win Coalition. The Laborers International Union of North America also is part of the group, but has not left the AFL-CIO.
