This agreement is not expected to contribute revenues until 2009 and is dependant on the renewal of the federal investment tax credit (ITC) extending into 2009 and beyond.
"We are very pleased to expand our deployment of utility-scale solar power
systems in support of SunPeak Solar's projects," said
EMCORE's CPV systems are powered by our industry leading high-efficiency compound semiconductor-based multi-junction solar cells that operate with 500x concentration to provide a lower cost-per-watt than competing technologies. CPV improves the performance of compound semiconductor-based solar cells, avoids the supply constraint that currently exists with silicon-based solar modules, and provides a lower cost-per-watt. EMCORE's continued investment in high-efficiency CPV systems for utility-scale photovoltaic power systems will enable the development of a new alternative energy resource worldwide.
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 unit 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 unit 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.
About SunPeak Solar:
SunPeak Solar, LLC is a privately-held solar energy project developer and
asset manager with longstanding capabilities in the development, financing,
construction and operation of renewable energy projects. SunPeak Solar is
presently developing a pipeline of more than 1,000 MW of utility-scale solar
energy projects located in the Southwestern
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 (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, and (iii) to be qualified and accepted by our customers, (b) the ability of SunPeak to successfully implement its own business plans and (c) factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. 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.
Contact: EMCORE Corporation Adam Gushard - Interim Chief Financial Officer (505) 332-5000 info@EMCORE.com TTC Group Victor Allgeier (646) 290-6400 info@ttcominc.com
SOURCE EMCORE Corporation