EMCORE Receives $39 Million in New Orders for Concentrator Solar Cell Receiver Assemblies from Green and Gold Energy

Worldwide deployment is driving a dramatic ramp-up of EMCORE's concentrator photovoltaics (CPV) receiver products. EMCORE's receiver assembly line commences high-volume production

ALBUQUERQUE, N.M., Feb. 27 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdq: EMKR), a leading provider of semiconductor-based components and subsystems for the broadband, fiber-optic, satellite and terrestrial solar power markets, announces today that it has been awarded a follow-on production order of $39 million for additional solar cell receiver assemblies. These receivers are to be deployed in Green and Gold Energy's SunCube CPV systems through its world-wide licensees. Additionally, EMCORE has received purchase orders from several other leading CPV system integrators for CPV receiver assemblies. The current backlog for this product line has increased to approximately $86 million. This backlog was reported in EMCORE's Q1 release for fiscal year 2008. Production of CPV receiver assemblies has commenced at EMCORE's high-volume manufacturing line located in Albuquerque, New Mexico.

EMCORE has recently introduced a line of integrated solar cell receiver assemblies optimized for operation at 500x to 1000x concentration, which provide terrestrial systems integrators a complete photovoltaics solution for their CPV systems. EMCORE's unique CPV receiver assembly is easily integrated into existing concentrating PV systems and has emerged as the most desirable form in the industry. By choosing EMCORE's complete and highly reliable receiver solution, CPV system developers are able to focus their full efforts on advancing their optical design and optimizing the balance of the system, significantly reducing their time to market.

David Danzilio, Vice President and General Manager of EMCORE's Photovoltaics Division stated, "We are delighted that Green and Gold Energy has recognized the market advantage provided by EMCORE's CPV receiver solution. This product fits seamlessly into GGE's existing optical design and eliminates the cost and time required to internally develop this critical element of the system. The conversion of GGE's initial solar cell order to CPV receiver assemblies, as well as the new $39M purchase order, demonstrates both the high confidence our customers have in EMCORE and the realization that our cell receiver assembly provides the shortest time to market for their system." Danzilio added, "This highly differentiated product has gained broad industry acceptance and we see increasing demand from multiple customers around the world. We are currently expanding our production capacity for both solar cells and cell receiver assemblies at our Albuquerque factory, and we entered 2008 with a record firm order backlog exceeding 300 MW. EMCORE's continued investment will continue to provide our CPV customers assured supply of the critical engine driving the deployment of economically viable terrestrial CPV systems."

About EMCORE

EMCORE Corporation is a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE's Fiber Optics segment offers optical components, subsystems and systems that enable the transmission of video, voice and data over high-capacity fiber optic cables for high-speed data and telecommunications, cable television (CATV) and fiber-to-the-premises (FTTP) networks. EMCORE's Solar Power segment provides solar products for satellite and terrestrial applications. For satellite applications, EMCORE offers high- efficiency compound semiconductor-based gallium arsenide (GaAs) solar cells, covered interconnect cells and fully integrated solar panels. For terrestrial applications, EMCORE offers concentrating photovoltaic (CPV) systems for utility scale solar applications as well as offering its high-efficiency GaAs solar cells and CPV components for use in solar power concentrator systems. For specific information about our company, our products or the markets we serve, please visit our website at http://www.emcore.com.

Safe Harbor

Statements in this press release that are not historical facts, and the assumptions underlying such statements, constitute "forward- looking statements" and assumptions underlying "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 and involve a number of risks and uncertainties, including whether the Company's new receiver products will be accepted by customers and perform as expected in field conditions, whether the Company's production facilities can be successfully expanded to produce the increased number of products to fulfill the additional purchase orders, and whether the Company's customers will be successful in their own businesses. Readers should also review the risk factors set forth in EMCORE's Annual Report on Form 10-K for the fiscal year ended September 30, 2007. These forward-looking statements are made as of the date hereof, and EMCORE does not assume any obligation to update these statements.

    CONTACT:
    EMCORE Corporation
    Adam Gushard - Interim Chief Financial Officer
    (505) 332-5000
    info@emcore.com

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

SOURCE EMCORE Corporation

Released February 27, 2008