SOURCE: EMCORE

EMCORE

January 11, 2011 07:40 ET

EMCORE Awarded Solar Panel Manufacturing Contract by NASA Goddard Space Flight Center for the Magnetospheric Multiscale Mission

$10 Million Award Will Power Four Spacecraft Utilizing EMCORE's Highest Efficiency ZTJ Solar Cells

ALBUQUERQUE, NM--(Marketwire - January 11, 2011) - EMCORE Corporation (NASDAQ: EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets announced today that the Company has been awarded a contract by NASA Goddard Space Flight Center (GSFC) in Greenbelt, Maryland to manufacture, test, and deliver solar panels for the Magnetospheric Multiscale (MMS) mission. The contract, with options, is valued at approximately $10 million.

EMCORE expects to deliver a total of 32 solar panels using its ZTJ solar cells to power 4 separate MMS spacecraft. With a sunlight-to-electricity conversion efficiency nearing 30%, the ZTJ solar cell is one of the highest performance space qualified multi-junction solar cells available in the market today. Production of the solar panels will take place at EMCORE's state-of-the-art manufacturing facilities located in Albuquerque, New Mexico.

"This NASA contract is a significant award for EMCORE," said Christopher Larocca, Chief Operating Officer of EMCORE. "Under a previous contract, we successfully delivered solar panels for NASA GSFC's Lunar Reconnaissance Orbiter mission, which is currently powering the spacecraft orbiting the Moon. Winning this new contract accelerates EMCORE's efforts to be the premier supplier of solar panels for demanding spacecraft power systems."

EMCORE is the world's largest manufacturer of highly efficient radiation hard solar cells for space power applications. With a beginning-of-life (BOL) conversion efficiency of 30% and the option for a patented, onboard monolithic bypass diode, EMCORE's industry leading multi-junction solar cells can provide the highest available power to interplanetary spacecraft and earth orbiting satellites.

About EMCORE

EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the broadband, fiber optic, satellite and solar power markets. EMCORE's Fiber Optic segment offers optical components, subsystems and systems for high speed data and telecommunications networks, cable television (CATV) and fiber-to-the-premises (FTTP). EMCORE's Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide (GaAs) solar cells, Covered Interconnect Cells (CICs) and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar concentrator systems. For further information about EMCORE, visit http://www.emcore.com.

Forward-looking statements:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, any statement or implication that the contract described in this press release will be successfully completed. Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations, business, and financial condition. These risks and uncertainties include, but are not limited to, (a) the termination for convenience of the contract for the MMS mission, which is permitted by the terms of that contract, and (b) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.

Contact Information

  • Contact:
    EMCORE Corporation
    Mark Weinswig
    Chief Financial Officer
    (505) 332-5000
    info@emcore.com

    TTC Group
    Victor Allgeier
    (646) 290-6400
    vic@ttcominc.com