Shares of Hoku Scientific Inc., the Kapolei-based technology company, jumped 11 percent after the company announced an agreement to sell stock to large investors and another company for about $25 million as it made progress toward financing an Idaho polysilicon plant.

Hoku, which trades on the Nasdaq stock market, advanced $1.04 to $10.30 in trading.

Hoku said a private placement sale of shares managed by Deutsche Bank Securities resulted in the buyers agreeing to purchase 2.89 million of its common stock.

Under a private placement sale the shares are sold through privately arranged sales and not offered through public markets.

Hoku said completing the private placement offering is a major stride toward funding of an about $400 million polysilicon plant it is building in Pocatello, Idaho. The plant is already under construction and when at full capacity in 2010 will be capable of producing about 3,860 tons of polysilicon annually. Polysilicon is used in the production of computer chips and cells for photovoltaic panels.