EMCORE Awarded Solar Panel Manufacturing Contract for NASA's Global Precipitation Measurement Mission
ALBUQUERQUE, NM--(Marketwire - June 16, 2009) - 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 to manufacture, test, and deliver solar panels for NASA's Global Precipitation Measurement spacecraft. The contract, valued at approximately $5 million, will be managed by MEI Technologies, Inc. for the NASA Goddard Space Flight Center (GSFC).
The Global Precipitation Measurement (GPM) mission is one of the satellite-based science missions studying global precipitation, including rain, snow, and ice. The launch of the spacecraft is presently scheduled for summer of 2013. The GPM spacecraft solar arrays will be powered by EMCORE's latest generation, 30% efficiency class ZTJ multi-junction solar cells. Production of the solar cells and panels will take place at EMCORE's state-of-the-art manufacturing facilities located in Albuquerque, New Mexico.
MEI Technologies is a prime contractor at GSFC for the Electrical Systems Engineering Services and operates in six different states. Sam Boyd, MEI Technologies' Chief Operating Officer, emphasized, "We are very proud to support GSFC and its earth science mission, and our entire team, including top quality suppliers like EMCORE, is committed to the success of GPM."
Christopher Larocca, Chief Operating Officer of EMCORE, stated, "We are very excited to earn this contract award from MEI Technologies and NASA Goddard Space Flight Center. This award reaffirms EMCORE's position as the leading solar panel supplier for space missions. Our proven manufacturing capability, technology leadership, and reliability heritage make EMCORE the supplier of choice 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 power to interplanetary spacecrafts and earth orbiting satellites.
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.
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 products described in this press release that the contract described 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 GPM Spacecraft, 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.
Silvia M. Gentile