Contract Value of Award is Approximately $6 Million

ALBUQUERQUE, N.M., April 16, 2012 (GLOBE NEWSWIRE) -- 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 it has been awarded a contract by Ball Aerospace & Technologies Corporation (BATC) to design, manufacture, test and deliver solar panels for a new spacecraft. The period of performance for this program is about 2 years, with a total contract value of nearly $6 million.

The solar panels delivered to BATC will be populated with EMCORE's ZTJ multi-junction solar cells. The ZTJ is currently the highest performance space-grade solar cell available in volume production to the global market.  Production of the solar cells and panels will take place at EMCORE's state-of-the-art manufacturing facilities located in Albuquerque, New Mexico, USA.

"We are very pleased to receive this award from Ball Aerospace & Technologies Corporation and recognize their confidence in our capabilities to manufacture and deliver the solar panels for this important mission," said Christopher Larocca, Chief Operating Officer for EMCORE. "Our proven manufacturing capability, technology leadership and high-reliability solar panels make EMCORE the supplier of choice for demanding spacecraft power systems."

EMCORE is the world's leading manufacturer of highly-efficient radiation-hard solar cells for space power applications. With a beginning-of-life (BOL) conversion efficiency nearing 30% and the option for a patented, onboard monolithic bypass diode, EMCORE's industry leading multi-junction solar cells 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-premise (FTTP), as well as specialty photonics technologies for defense and homeland security applications. 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.

About Ball Aerospace & Technologies

Ball Aerospace & Technologies Corporation, a subsidiary of Ball Corporation, designs, develops and manufactures innovative aerospace systems including spacecrafts, instruments, RF and microwave technologies, and data exploitation solutions for governmental and commercial customers.  Ball Aerospace is a respected leader in providing integrated spacecraft buses for payload integration and precision spacecraft for interplanetary and space science missions.  For more information about Ball Aerospace, please visit http://www.ballaerospace.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, as amended. 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, which is permitted by the terms of that contract, and (b) factors discussed in more detail under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. 

CONTACT: EMCORE Corporation

         Mark Weinswig

         Chief Financial Officer

         (505) 332-5000

         investor@emcore.com

         

         TTC Group

         Victor Allgeier

         (646) 290-6400

         vic@ttcominc.com