EMCORE Awarded Solar Panel Manufacturing Contract by Sierra Nevada Corporation for NASA's CYGNSS Mission

ALBUQUERQUE, N.M., March 24, 2014 (GLOBE NEWSWIRE) -- EMCORE Corporation (Nasdaq:EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optics and space solar power markets, announced today that it has been awarded a contract by Sierra Nevada Corporation (SNC) to design and manufacture solar panels for SNC to be used on NASA's Cyclone Global Navigation Satellite System (CYGNSS). The CYGNSS mission will be managed by Southwest Research Institute (SwRI) and is planned for launch, October 2016.  

EMCORE will populate solar panels with its most advanced ZTJ triple-junction solar cells.  SNC will then deliver the finished panels to SwRI for integration into the eight Low-Earth Orbiting (LEO) satellites that will be carried into orbit on a single launch vehicle.  

The goal of NASA's CYGNSS mission is a fundamental improvement in hurricane forecasting. CYGNSS will make frequent and accurate measurements of ocean surface winds throughout the life cycle of tropical storms and hurricanes. The data generated will enable scientists to probe key air-sea interaction processes that take place near the core of storms, which play a critical role in the genesis and intensification of hurricanes.

"EMCORE is a valued and strategic partner supporting a critical element of SNC's growing, complete and integrated satellite Electrical Power System (EPS) offering," said Matt Johnson director of programs for SNC's Space Systems.  "We look forward to working with EMCORE as we continue to expand the EPS market with higher value, lower cost and turn-key system solutions."

"EMCORE is proud to play a key role with Sierra Nevada Corporation in this important NASA mission to advance the forecasting and tracking of extreme weather conditions," said Dr. Brad Clevenger, Executive Vice President and General Manager of EMCORE's Photovoltaics Division. "EMCORE previously delivered solar panels to SNC for the ORBCOMM Generation 2 (OG2) satellites in 2010. We are very pleased to receive this award and are appreciative of SNC's continued confidence in our ability to deliver the highest reliability solar panels for their missions," added Dr. Clevenger.

EMCORE is one of the world's leading manufacturers of highly-efficient radiation-hard solar cells for space power applications. With a Beginning-Of-Life (BOL) conversion efficiency nearing 30 percent and the option for a patented, onboard monolithic bypass diode, EMCORE's industry-leading multi-junction solar cells provide the highest levels of performance to interplanetary spacecraft and earth orbiting satellites.  

Since 2001 EMCORE solar cells or panels have supplied primary power to over 130 successful space missions with zero on-orbit failures.  The Company's proven manufacturing capability, technology leadership and unsurpassed reliability make EMCORE the supplier of choice for demanding space programs.

About EMCORE

EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the fiber optics and space solar power markets. EMCORE's Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE's Solar Photovoltaics business segment provides products for space power applications including high-efficiency multi-junction solar cells, Coverglass Interconnected Cells (CICs) and complete satellite solar panels. For further information about EMCORE, visit http://www.emcore.com.

About Sierra Nevada Corporation

Sierra Nevada Corporation (SNC), headquartered in Sparks, Nev., is one of America's fastest growing private companies based on its significant expansion and reputation for rapid, innovative, and agile technology solutions in electronics, aerospace, avionics, space, propulsion, micro-satellite, aircraft, communications systems and solar energy. Under the leadership of CEO Fatih Ozmen and President Eren Ozmen, SNC has a workforce of over 3,000 personnel in 30 locations in 16 states. SNC's six unique business areas are dedicated to providing leading-edge solutions to SNC's dynamic customer base.

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 statements include statements regarding EMCORE's expectations, goals or intentions, including, but not limited to, financial performance, production schedules, expected customer sales, product features and their benefits, product quality and product performance. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. Risks and uncertainties that could cause EMCORE's actual results to differ from those set forth in any forward-looking statement are discussed in more detail in EMCORE's SEC filings available at www.sec.gov, including under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements contained in this press release are made only as of the date hereof, and EMCORE 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
         Navid Fatemi
         Vice President, Business Development
         (505) 332-5000
         navid_fatemi@emcore.com

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

Released March 24, 2014