EMCORE Corporation Delivers 1 Millionth Solar Cell to Space Systems/Loral
ALBUQUERQUE, N.M., Jan. 29, 2013 (GLOBE NEWSWIRE) -- 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 it recently delivered its 1 millionth high-efficiency, multi-junction solar cell to Space Systems/Loral (SS/L), which will ultimately represent more than a megawatt of power delivered into space. EMCORE and Space Systems/Loral will mark the occasion with a special event at EMCORE's Albuquerque facilities during the week of February 25, and with a commemorative award symbolizing the 1 millionth solar cell.
EMCORE has been supplying Space Systems/Loral with high-efficiency, multi-junction solar cells for more than 10 years and in May 2009 announced a long term supply agreement with Space Systems/Loral to continue manufacturing and delivering solar cells for their spacecraft programs through 2014. EMCORE's business relationship with Space Systems/Loral has been integral to the development of the Company's photovoltaics division and the growth of its space satellite solar power business. Since its formation in 1998, EMCORE Photovoltaics has grown to be the world's leading manufacturer of high-efficiency, multi-junction solar cells for space power applications.
"The EMCORE team continually demonstrates their dedication to our business," said Vivian Mackintosh, Vice President of Supply Chain Management at Space Systems/Loral. "EMCORE is more than just a supplier to SS/L. We have developed a close collaborative working relationship that ensures on time delivery and the highest level of quality."
"Delivering 1 million solar cells for more than 50 successful satellite launches by Space Systems/Loral is a tremendous milestone for EMCORE and our space satellite solar business," said Dr. Hong Hou, Chief Executive Officer at EMCORE. "We are especially proud to have achieved this milestone with our solar cells meeting all requirements for performance and reliability. We are delighted and very grateful to continue this relationship, and we look forward to working with Space Systems/Loral to power their satellite missions for many years to come."
EMCORE's industry-leading multi-junction solar cells have a Beginning-Of-Life (BOL) conversion efficiency nearing 30% and the option for a patented, onboard monolithic bypass diode to provide the highest available power to interplanetary spacecraft and earth orbiting satellites. EMCORE's proven manufacturing capability, technology leadership, and high-reliability solar cells and panels make us the supplier of choice for demanding spacecraft power systems.
EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the fiber optics and 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, Covered Interconnect Cells (CICs) and complete satellite solar panels. For further information about EMCORE, visit http://www.emcore.com.
About Space Systems/Loral
SS/L has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more information, visit www.ssloral.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, 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) 332-5019 firstname.lastname@example.org Investor TTC Group Victor Allgeier (646) 290-6400 email@example.com