Sopogy Press from the House of Representatives

The House of Representatives

STATE OF HAWAII

NEWS RELEASE

Contact: Vice Speaker Jon Riki Karamatsu

For Immediate Release – April 30, 2007 T. 808-586-8490

LOCAL SOLAR POWER COMPANY WINS $10M IN REVENUE BONDS

Honolulu. Sopogy, Inc., a local renewable energy company, has received legislative approval to issue as much as $10M in special purpose revenue bonds. House Bill 334, introduced by Vice Speaker of the House of Representatives Jon Riki Karamatsu, authorizes the issuance of bonds to assist Sopogy, Inc. with the planning, design, construction, equipping, and operating of a solar farm power plant.

Sopogy, Inc. specializes in the development, manufacture, and distribution of proprietary concentrated solar power systems that generate electricity. The company was founded in 2002 by local entrepreneur Darren Kimura with the goal of addressing global problems such as climate change, energy security and sustainability. The proposed location of Sopogy, Inc.’s solar farm power plant is the Natural Energy Laboratory of Hawaii Authority’s Kailua-Kona site.

“Sopogy is proud to be part of the solution to Hawaii’s energy needs,” said Kimura. “We are building a technology company that highlights the value of investing in Hawaii’s emerging clean energy sector and we are grateful for the support of Representative Karamatsu and the numerous members of the State House and Senate who supported our Special Purpose Revenue Bond.”

Author of the bill Rep. Karamatsu has been a staunch supporter of clean energy technology. In 2005, Rep. Karamatsu helped another Hilo native, Dustin Shindo, and his company, Hoku Scientific, secure one of Hawaii’s first special-purpose revenue bond authorizations for a renewable energy company. Hoku Scientific’s bonds were available for the planning, design, construction, and equipping of the company’s Kapolei facilities.

“Helping companies like Sopogy ultimately helps all of us,” said Vice Speaker Karamatsu. “Sopogy’s solar power technology will help Hawaii become less reliant on fossil fuels and hopefully begin to address the adverse effects of global warming.”