Emcore Corp: Solar panel manufacturing contract
Albuqerque, New Mexico,- Emcore Corporation, a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced today that it has been awarded a solar panel manufacturing contract by ATK to utilize ZTJ solar cells in the new lightweight and highly-efficient ATK Ultraflex solar arrays. The solar panels will be used to power cargo delivery spacecraft for Orbital Sciences Corporation's Commercial Resupply Services (CRS) missions to the International Space Station (ISS).
Under contract with NASA, Orbital will provide cargo logistics support services to the ISS, beginning in 2012. Emcore's solar panels will be assembled into deployable solar arrays by ATK's Solar Arrays and Deployables business based in Goleta, California. The arrays will then be delivered to Orbital Sciences Corporation for integration into their Cygnus space vehicles.
"Coupling Emcore's heritage of providing highly-efficient and reliable photovoltaics with ATK's lightweight Ultraflex solar array design will result in a winning solution to produce the most advanced and reliable power to ensure Orbital's Cygnus spacecraft is the long-term solution for the automated transport of goods to the International Space Station for many years to come," said Dave Messner, General Manager of ATK's Solar Arrays and Deployables business.
"Emcore values our long-standing business relationship with ATK and we are extremely honored to receive this award," said Christopher Larocca, Chief Operating Officer for Emcore. "Our proven manufacturing capability, technology leadership and high-reliability solar panels make Emcore the supplier of choice for demanding spacecraft power systems. We look forward to working with ATK to support Orbital and NASA for these important missions."
Emcore is the world's leading manufacturer of highly-efficient radiation-hard solar cells for space power applications. With a beginning-of-life (BOL) conversion efficiency nearing 30% and the option for a patented, onboard monolithic bypass diode, EMCORE's industry leading multi-junction solar cells provide the highest available power to interplanetary spacecraft and earth orbiting satellites.
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-premise (FTTP), as well as specialty photonics technologies for defense and homeland security applications. 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.
ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally with revenues of approximately $4.8 billion. ATK is the world's leading provider of outsourced solar arrays for spacecraft. News and information can be found at www.atk.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 forward-looking statements include, but are not limited to, any statement or implication that the contract described in this press release 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 termination for convenience of the contract for the CRS mission, which is permitted by the terms of that contract, and (b) factors discussed in more detail under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Chief Financial Officer