You could say that Dustin Shindo is a man who’s always looking for the next big thing. The consummate entrepreneur, just 34 years old, has already created four companies from the ground-up — everything from a local brewery to a clean energy technology company with $1.6 billion in contracts— all with the purpose of making a difference in the world.

Shindo founded Mehana Brewing Company in 1995 and a travel activity company called Activitymax in 1999 (which he later disbanded). He is chairman of Kai Sensors, a wireless heart rate and respiration sensing company he co-founded in 2007 and he is the chairman, president and CEO of the clean energy company, Hoku Scientific, Inc., which was established in 2001.
It is at Hoku Scientific where Shindo’s energy is most focused these days.

"I viewed energy as a market that is growing on a global scale and is in need of new technologies," says Shindo of how Hoku Scientific was born. "This meant that in the future, efficiencies and cost savings delivered through new technologies would create significant opportunities for entrepreneurs to create value for investors. I also wanted to do something that was about more than just business. Working to bring technologies to market that help the environment has intrinsic value to me."

Hoku Scientific, Inc. is broken down into three business units: Hoku Solar, Hoku Materials and Hoku Fuel Cells.

Hoku Solar is a Hawaii-based installer of turnkey photovoltaic (PV) systems.

"These systems convert sunlight into electricity, which makes a lot of sense in Hawaii where there are high electricity prices, lots of sun and a heavy dependence on oil," says Shindo.

Hoku Solar recently completed an installation atop Ala Moana Shopping Center and at Hardware Hawaii Kapolei, and, last quarter, the company completed installations for Bank of Hawaii and Paradise Beverages (the Miller and Coors Brewing Company distributor in Hawaii).

Hoku Solar also won a contract with Hawaiian Electric to sell electricity generated by a Hoku Solar PV power system. The system will be installed by Hoku Solar on the roof of the Archer Substation at Hawaiian Electric’s Ward Avenue facility later this year.

Rated at a minimum of 167 kilowatts, it will be one of the largest single-site PV systems on Oahu to date. Once installed, Hoku Solar will continue to own and operate the system at a fixed rate over 20 years.

The fixed pricing is a way to secure renewable energy at a cost not tied to oil prices. It is possible because PV is among the technologies not facing costs for fuel.

"The agreement between Hawaiian Electric and Hoku Solar sets a great example for other businesses on how to install a PV system without incurring upfront costs, and still be able to lock in a long-term electricity rate and support renewables," says Shindo.

In addition, Hoku Materials is currently in the process of building a $400 million polysilicon plant in Pacatello, Idaho. Polysilicon, says Shindo, is the raw material used to make PV panels. The location was chosen due to the need for a large space to build the facility and a need for low-cost electricity. So far, Hoku Materials has signed customer contracts totaling $1.6 billion.