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Date Announced: 05 May 2011
Solar Cell Deal is Second-Largest Award in EMCORE's History
ALBUQUERQUE, NM--(Marketwire - May 5, 2011) - EMCORE Corporation (NASDAQ: EMKR), a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and terrestrial solar power markets, announced today that it has entered into a long-term supply agreement with Space Systems/Loral (SS/L) to manufacture and deliver high-efficiency, multi-junction solar cells for Space Systems/Loral's commercial satellite programs.
The multi-year contract represents the second largest award in EMCORE's history. The agreement is subject to certain terms and conditions, including a provision allowing SS/L to terminate the agreement for convenience. Production of the solar cells will take place at EMCORE's state-of-art manufacturing facilities located in Albuquerque, New Mexico.
"EMCORE has been a highly reliable partner in helping us deliver some of the world's most powerful satellites to our customers," said Vivian Mackintosh, Vice President of Materiel at Space Systems/Loral. "We can count on EMCORE for the highest quality solar cells delivered on time and priced fairly."
"We are extremely proud of Space Systems/Loral's choice of EMCORE to supply multi-junction solar cells for all SS/L flight missions," said Christopher Larocca, Chief Operating Officer of EMCORE. "EMCORE has delivered more than 800,000 solar cells to Space Systems/Loral over the past decade, and this agreement further strengthens our successful long-term relationship."
EMCORE is the world's largest manufacturer of fully space qualified, highly efficient radiation-hard multi-junction solar cells for space power applications. With a solar-to-electric conversation efficiency of nearly 30%, EMCORE's multi-junction solar cells offer superior performance at an affordable price when compared to competing technologies.
Source: Emcore
E-mail: investor@emcore.com
Web Site: www.emcore.com
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