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<TITLE>UNITED STATES</TITLE>
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</FONT><B><FONT FACE="Times New Roman Bold,Times New Roman"><P ALIGN="CENTER">UNITED STATES</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
</FONT><FONT SIZE=2><P ALIGN="CENTER">Washington, D.C. 20549</P>
</FONT><FONT SIZE=5><P ALIGN="CENTER">FORM 8-K</P>
</B></FONT><FONT SIZE=2>
<B><P ALIGN="CENTER">CURRENT REPORT</P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of </P>
<P ALIGN="CENTER">The Securities Exchange Act of 1934</P>
</B>
<P ALIGN="CENTER">Date of Report (Date of earliest event reported): <B>December 5, 2007</P>
</B>
<P>&nbsp;</P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=9 WIDTH=720>
<TR><TD VALIGN="TOP" COLSPAN=3>
<B><FONT FACE="Times New Roman Bold,Times New Roman" SIZE=5><P ALIGN="CENTER">HOKU SCIENTIFIC, INC.</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Delaware</B></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">000-51458</B></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">99-0351487</B></FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP"><DIR>
<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction</DIR>
</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(Commission File Number)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(IRS Employer Identification No.)</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP"><DIR>
<FONT SIZE=2><P ALIGN="CENTER">of incorporation)</DIR>
</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=2><P ALIGN="CENTER">1075 Opakapaka Street </P>
<P ALIGN="CENTER">Kapolei, Hawaii </B></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER"><BR>
<B>96707</B></FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" COLSPAN=2 HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(Zip Code)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=19><P></P></TD>
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<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">Registrant's telephone number, including area code: <B>(808) 682-7800</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=19><P></P></TD>
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<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=19>
<B><FONT SIZE=2><P ALIGN="CENTER">Not Applicable </B></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(Former name or former address, if changed since last report.)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>
<FONT SIZE=2><P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<P>[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P>[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P>[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P>[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P ALIGN="CENTER"></P><DIR>
<DIR>
<DIR>
<B><P><A NAME="OLE_LINK1">Item 8.01.&#9;Other Events.</P></DIR>
</DIR>
</DIR>
</B><I><P ALIGN="JUSTIFY">Update on Polysilicon Plant Financing</P>
</I><P ALIGN="JUSTIFY">On December 5, 2007, Hoku Scientific, Inc. issued a press release announcing that it has signed a non-binding term sheet with Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated, for its wholly-owned subsidiary, Hoku Materials, Inc., to borrow up to $185.0 million to fund the construction and procurement of its planned polysilicon production facility in Pocatello, Idaho, entitled &quot;Hoku Scientific Announces Progress on Financing Polysilicon Plant.&quot;  The press release is attached as Exhibit 99.1 and is incorporated herein by reference.  </P><DIR>
<DIR>
<DIR>
<B><P>Item 9.01.&#9;Financial Statements and Exhibits.</P></DIR>
</DIR>
</DIR>
<OL START=4 TYPE="a">
<OL TYPE="a">
</B><LI>Exhibits.</LI></OL>
</OL>
</FONT><FONT SIZE=3>
</FONT><B><FONT SIZE=2><P ALIGN="JUSTIFY">Exhibit  </P>
<U><P ALIGN="JUSTIFY">Number&#9;</U>&#9;<U>Description</P></B></U></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=595>
<TR><TD WIDTH="16%" VALIGN="TOP" HEIGHT=57>
<FONT SIZE=2><P>Exhibit 99.1</FONT></TD>
<TD WIDTH="84%" VALIGN="TOP" HEIGHT=57>
<FONT SIZE=2><P>Press Release, dated December 5, 2007, entitled &quot;Hoku Scientific Announces Progress on Financing Polysilicon Plant.&quot;</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" HEIGHT=57><P></P></TD>
<TD WIDTH="84%" VALIGN="TOP" HEIGHT=57><P></P></TD>
</TR>
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</P>
<B><FONT SIZE=2>
<P>&nbsp;</P>
<P>&nbsp;</P>
</B><P ALIGN="CENTER"></A></P>
<B><P ALIGN="CENTER">SIGNATURE</P>
</B><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Dated:  December 5, 2007</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=384>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="88%" VALIGN="TOP">
<B><FONT FACE="Times New Roman Bold,Times New Roman" SIZE=3><P>Hoku Scientific, Inc. </B></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="88%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="88%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">By:</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="JUSTIFY">/s/ Dustin Shindo &#9;</U></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">Dustin Shindo </FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="88%" VALIGN="TOP">
<FONT SIZE=2><P>Chairman of the Board of Directors, President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</P>
<FONT SIZE=2>
</FONT><B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<FONT FACE="Times New Roman Bold,Times New Roman" SIZE=2><P ALIGN="CENTER">EXHIBIT INDEX</P>
</FONT><P ALIGN="JUSTIFY"></P>
<FONT SIZE=2><P ALIGN="JUSTIFY">Exhibit  </P>
<U><P>Number&#9;</U>&#9;<U>Description</P></B></U></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=595>
<TR><TD WIDTH="16%" VALIGN="TOP" HEIGHT=57>
<FONT SIZE=2><P>Exhibit 99.1</FONT></TD>
<TD WIDTH="84%" VALIGN="TOP" HEIGHT=57>
<FONT SIZE=2><P>Press Release, dated December 5, 2007, entitled &quot;Hoku Scientific Announces Progress on Financing Polysilicon Plant.&quot;</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" HEIGHT=57><P></P></TD>
<TD WIDTH="84%" VALIGN="TOP" HEIGHT=57><P></P></TD>
</TR>
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UNITED STATES
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 5, 2007
HOKU SCIENTIFIC, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-51458
99-0351487
(State or other jurisdiction
(Commission File Number)
(IRS Employer Identification No.)
of incorporation)
1075 Opakapaka Street
Kapolei, Hawaii
96707
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(808) 682-7800
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01.	Other Events.
Update on Polysilicon Plant Financing
On December 5, 2007, Hoku Scientific, Inc. issued a press release announcing that it has signed a non-binding term sheet with Merrill Lynch, Pierce, Fenner & Smith Incorporated, for its wholly-owned subsidiary, Hoku Materials, Inc., to borrow up to $185.0 million to fund the construction and procurement of its planned polysilicon production facility in Pocatello, Idaho, entitled "Hoku Scientific Announces Progress on Financing Polysilicon Plant."  The press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01.	Financial Statements and Exhibits.
Exhibits.
Exhibit
Number
Description
Exhibit 99.1
Press Release, dated December 5, 2007, entitled "Hoku Scientific Announces Progress on Financing Polysilicon Plant."
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated:  December 5, 2007
Hoku Scientific, Inc.
By:
/s/ Dustin Shindo
Dustin Shindo
Chairman of the Board of Directors, President and Chief Executive Officer
EXHIBIT INDEX
Exhibit
Number
Description
Exhibit 99.1
Press Release, dated December 5, 2007, entitled "Hoku Scientific Announces Progress on Financing Polysilicon Plant."