EMCORE Corporation Awarded Solar Panel Manufacturing Contract From Dutch Space
Contract Awarded for Orbital Sciences Corporation's Cygnus(TM) Spacecraft to Serve NASA's Commercial Orbital Transportation Services (COTS) / Commercial Resupply Service (CRS) Projects
ALBUQUERQUE, NM -- (MARKET WIRE) -- 11/12/09 -- 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 by Dutch Space of Leiden, The Netherlands to manufacture, test, and deliver the solar panels to power the Cygnus spacecraft being developed by Orbital Sciences Corporation (NYSE: ORB) for NASA's Commercial Resupply Service (CRS) project. With all options exercised the total value of the contract would be in excess of $15 million.
Under the CRS project, Orbital will carry out eight pressurized space cargo missions beginning in early 2011 and running through 2015 to provide a U.S.-produced and-operated automated cargo delivery service to the International Space Station (ISS). An initial demonstration flight will be carried out as part of NASA's Commercial Orbital Transportation Services (COTS) project, which provided NASA incentives to the developing commercial launch services industry.
The solar panels to be delivered to Dutch Space will use EMCORE's ZTJ solar cells. 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.
Bart Reijnen, CEO of Dutch Space: "From our joint experience on NASA's Dawn interplanetary project, which included Orbital as the prime contractor, we know that collaborating with EMCORE results in first-class technology tailored to specific needs. Their contribution to the solar arrays for the Cygnus spacecrafts will provide the highest available efficiency, optimized for the mission."
Christopher Larocca, Chief Operating Officer of EMCORE stated, "This is a significant award for EMCORE as this program will be powered by the most highly efficient space solar cells available today. We are proud to once again be part of an Orbital-led mission with Dutch Space as the solar array provider. This is a reformation of the team that successfully collaborated on NASA's DAWN mission, which is currently powering the spacecraft on its voyage to the Asteroid Belt. The CRS award builds on the successful heritage of DAWN and paves the way for more future partnerships with Dutch Space."
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.
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-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.
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. 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 Dutch Space's own contract relating to this project (which can be terminated for convenience, as can EMCORE's 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.
Contact: EMCORE Corporation Silvia M. Gentile Executive Offices (505) 323-3417 Email Contact TTC Group Victor Allgeier (646) 290-6400 Email Contact
Released November 12, 2009