EMCORE Receives a $24 Million Purchase Order for Concentrator Solar Cells from Green and Gold Energy

Award of the Industry's Largest Concentrator Solar Cell Order to Date Affirms EMCORE's Position as the Technology and Manufacturing Leader and Signals the Maturation of the Concentrator Photovoltaics (CPV) Market

ALBUQUERQUE, N.M., Aug. 29 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdaq: EMKR), a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and terrestrial solar power markets, announced today that it has been awarded a follow-on production order from Green and Gold Energy (GGE) for 3 million solar cells for use in GGE's SunCube(TM) terrestrial concentrator system. This 105 MW purchase order represents the largest procurement of concentrator solar cells in the industry to date and is a follow-on order to an initial 5 MW order placed earlier this year. All hardware ordered under this contract is to be shipped by the end of 2008.

EMCORE will ship its industry leading Concentrator Triple-Junction (CTJ) solar cell products, which have been designed and optimized for Green and Gold Energy's 1100x CPV system. EMCORE has demonstrated record conversion efficiency of 39% under these high concentration conditions and this performance will enable the most cost effective CPV system on the market today. These ultra-high efficiency CPV cells are presently in volume production for multiple customers in a variety of cell sizes.

Based in Glynde, Australia, Green and Gold Energy is a world-leading CPV system provider (www.greenandgoldenergy.com.au). With strong support from Australian government, they plan to deploy solar power farms employing their SunCube(TM) low-cost CPV system. GGE is also entering into distribution agreements with several partners, representing a potential for more than 500 MW of annual demand. The SunCube(TM) CPV has been designed to produce power at a cost lower than traditional photovoltaic technologies.

Greg Watson, CEO of Green and Gold Energy, stated, "EMCORE's solar cell serves as the key enabling technology in our SunCube(TM) CPV system. The patent pending SunCube together with its supporting technologies and the EMCORE cell, are receiving worldwide recognition as the CPV system capable of delivering truly fossil fuel competitive energy."

As a part of the planned high-volume product roadmap, EMCORE's continuing investment in technological innovation will enable the introduction of CPV solar cell products with conversion efficiencies of greater than 40% under highly concentrated illumination operating conditions required for next generation, cost competitive CPV systems.

"We are very pleased to receive this follow-on order from Green and Gold Energy," said David Danzilio, Vice President and General Manager of EMCORE's Photovoltaics Division. "EMCORE's CPV solar cells are optimized for our customers' systems to yield state-of-the-art performance with the lowest cost per kW-hr. This 105 MW production contract confirms EMCORE's position as the leader in concentrator cell technology and high volume manufacturing. EMCORE is committed to continually investing in our concentrator cell technology and further expansion of our manufacturing capacity to meet the growing requirements of present and future customers," added Mr. Danzilio.

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.

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 (i) will be successfully introduced or marketed, (ii) will be qualified and purchased by our customers, or by the customers of Green and Gold Energy, or (iii) will perform to any particular specifications or performance or reliability standards. 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 failure of the products (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, or by the customers of Green and Gold Energy, and (iv) to successfully compete with products offered by our competitors, and (b) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. In addition, risks and uncertainties may arise from the ability of Green and Gold Energy to succeed in its own business objectives and the ability of EMCORE to achieve increased efficiency in its solar sells or to achieve increases in production volume of those cells. 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.

SOURCE EMCORE Corporation

Released August 29, 2007