The Photovoltaics division of EMCORE Corporation has been awarded a multi-year purchase order from a leading manufacturer of high power geosynchronous communications satellites. The Company estimates the value of the purchase order at more than $41 million over a period of 3 years.
EMCORE will supply state of the art, high efficiency multi-junction solar cells for approximately ten high power satellites. Production of the solar cells will take place at EMCORE's state-of-the-art multi-junction Solar Cell production facility located in Albuquerque, New Mexico.
The recently awarded purchase order represents an extension to an existing multi-year purchasing agreement with a leading US commercial satellite manufacturer. The agreement calls for continuous solar cell production through 2009 with several hundred thousand solar cells to be delivered to the end customer. Production on the purchase order is expected to commence in the January quarter.
EMCORE is one of the leading suppliers of highly efficient radiation hard solar cells for space power applications. With a beginning of life conversion efficiency of 28.5% and the option of a patented, onboard monolithic bypass diode, EMCORE's industry leading multi-junction solar cells enable a new class of high power communications satellite for direct to home broadcasts and advanced satellite services.
These advanced solar cells have also been adapted for use in terrestrial concentrator applications and have attained conversion efficiencies in excess of 36%. These products will make possible cost competitive concentrating photovoltaic systems for use in utility scale solar power stations and other distributed energy applications.
David Danzilio, Vice President and General Manager of EMCORE's PhotoVoltaic Division stated, "This multi-year, $41 million procurement from one of our largest customers confirms EMCORE Photovoltaics position as one of the leading multi-junction solar cell suppliers in the world. This purchase order, along with the initial purchase agreement, represents one of the largest multi-junction solar cell procurements from any US satellite manufacturer.
We believe that our proven manufacturing capability and technology leadership make EMCORE the supplier of choice for demanding satellite power systems. We continue to invest in our state-of-the-art manufacturing facility to enhance our capabilities to meet and exceed the exacting needs of our customers."
EMCORE Photovoltaics recently completed a $2.5 million expansion of its Albuquerque operations. The new 20,000 sq. ft. facility for space and terrestrial solar panel production was officially opened on October 30th in a ceremony attended by Dr. Thomas J. Russell, the Chairman of the Board of EMCORE Corporation, Reuben F. Richards Jr., EMCORE's Chief Executive Officer, US Senator Pete Domenici, US Representative Heather Wilson and New Mexico Lt. Governor Dianne Denish.
"EMCORE Photovoltaics Division continues to grow at a rapid pace and has secured a number of new production programs for fully integrated space solar panels as well as solar cells. Our recently completed expansion provides EMCORE with the capacity to meet our current and future space and terrestrial customers' requirements. This major multiyear production award continues our vision of enabling our customer's market success and positioning EMCORE for continued market leadership," added Reuben F. Richards, Jr., President and CEO of EMCORE.
