EMCORE Corporation Awarded Solar Panel Manufacturing Contract From ATK Space Systems
ALBUQUERQUE, NM--(Marketwire - January 27, 2010) - EMCORE Corporation (NASDAQ: EMKR), a leading provider of compound semiconductor-based components, systems and subsystems for the fiber optic and solar power markets, announced today that the Company has been awarded a contract by ATK Space Systems of Goleta, California to manufacture, test, and deliver solar panels for ATK's UltraFlex™ solar arrays. These solar arrays will be used to power the Orion spacecraft being developed by Lockheed Martin Space Systems Company for NASA. The period of performance for this contract for the first two vehicles runs through 2013 and is valued in the range of $9-$11 million. The flight solar array system is expendable for each Orion mission and continuous production is expected to run through 2020 and beyond.
The Orion crew exploration vehicle (CEV) program will serve as NASA's next generation human space transportation system. This vehicle is intended to replace the current Space Shuttle and will provide human space flight systems capable of transferring astronauts to and from the International Space Station (ISS), the Moon and other destinations within the solar system. NASA expects to order multiple Orion Constellation vehicles over the next decade.
EMCORE's latest generation ZTJ triple-junction solar cells will be designed into the solar panels delivered to ATK Space Systems. With a sunlight-to-electricity conversion efficiency of 30%, the ZTJ solar cell is the highest performance space qualified multi-junction solar cell available in the world today. Production of the solar panels will take place at EMCORE's state-of-the-art manufacturing facilities located in Albuquerque, New Mexico.
"We are very excited to be using the EMCORE ZTJ triple junction solar cells in the ATK Ultraflex™ solar array design," said Dave Messner, Vice President and General Manager of ATK's Solar Array and Deployables site based in Goleta, California. "The ATK UltraFlex™ solar array design will be providing 14kW of power per shipset with superior performance characteristics and mission enabling features, including ultra-lightweight, high strength, high stiffness, and compact stowage volume. The EMCORE solution will enable ATK to provide the UltraFlex™ solar array configured for Orion so that it will provide over twenty times the strength and ten times the stiffness of our conventional rigid panel solar arrays, at less than one-third the weight."
Christopher Larocca, Chief Operating Officer of EMCORE, stated, "This CEV program represents a significant award for EMCORE. The solar panels for this program will provide the critical power needs required for the next phase of NASA's human exploration program. We have enjoyed a long-term relationship with ATK Space Systems and look forward to partnering with them on this exciting program."
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%, EMCORE's industry leading multi-junction solar cells can provide the highest power to interplanetary spacecraft 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.
ATK is an industry leader in solar array systems-engineering competencies. It offers a broad range of technologies, skills and products, and a proven production and test capability for solar array systems. To date the company has delivered over 70 solar array wing systems.
ATK is an advanced weapon and space systems company with annual revenues in excess of $4.1 billion that employs more than 17,000 people in 21 states. News and information can be found on the Internet at http://www.atk.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 successful completion of all of ATK's own contract relating to this project (which can be terminated for convenience, as can EMCORE's contract and the contracts of all parties involved in the project) 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