EMCORE Corporation Awarded Solar Contract From Boeing
ALBUQUERQUE, NM -- (MARKET WIRE) -- 07/30/09 -- EMCORE Corporation (NASDAQ: EMKR), a leading provider of compound semiconductor-based components and systems for the fiber optic and solar power markets, today announced an industry team led by The Boeing Company (NYSE: BA) has received a contract from the Defense Advanced Research Projects Agency (DARPA) for work on Phase 2 of the Fast Access Spacecraft Testbed (FAST) program. The $15.5 million cost-plus-fixed-fee contract is currently funded to $13.8 million.
DARPA's FAST program aims to develop a new, ultra-lightweight High Power Generation System (HPGS) that can generate up to 175 kilowatts -- more power than is currently available to the International Space Station. When combined with electric propulsion, FAST will form the foundation for future self-deployed, high-mobility spacecraft to perform ultra-high-power communications, space radar, satellite transfer and servicing missions.
Boeing Phantom Works of Huntington Beach, California is leading the effort with support from Boeing Network and Space Systems, El Segundo, California. The Phase 2 work will include designing, fabricating and integrating test articles, performing a series of component-level evaluations and running two full-scale system tests.
"Our team is pleased to partner with DARPA in developing this powerful new technology," said Tom Kessler, FAST program manager, Boeing Advanced Network and Space Systems. "FAST offers significant cost and performance benefits to our commercial, civil and national security customers, including new high-power applications to provide a cost-effective means for spacecraft to travel to the outer solar system."
During Phase 1 of the program, the Boeing-led team, which includes DR Technologies, Northrop Grumman Astro Aerospace, Texas A&M University, EMCORE, Boeing subsidiary Spectrolab Inc., and other key suppliers, developed a preliminary design for an HPGS capable of providing more than 130 watts per kilogram on a system that is less than half the weight and one sixth the size of an existing on-orbit solar power system. The team also defined the test program being conducted in Phase 2, which will verify the performance and operation of the HPGS's solar concentration, power conversion, heat rejection, structure and deployment, and sun pointing and tracking subsystems.
The Boeing team's unique solar concentrator design offers higher performance and greater radiation tolerance than current on-orbit solar power generation systems. Boeing will also be using different approaches to solar cell technology to include capabilities from EMCORE and Spectrolab.
The size efficiency of the HPGS enables a new class of compact spacecraft that can self-deploy from low-Earth orbit to reach their final orbit using electric propulsion. This permits the use of smaller, less expensive launch vehicles that can support high-value science missions to the outer solar system without the need for expensive radioisotope power systems.
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.
About Boeing Integrated Defense Systems
A unit of The Boeing Company, Boeing Integrated Defense Systems is one of the world's largest space and defense businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Integrated Defense Systems is a $32 billion business with 70,000 employees worldwide.
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 FAST contract described will run for its full term. 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 or early termination of the FAST contract; (b) the successful development of the HPGS product under the terms of that contract, and (c) 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 July 30, 2009