EMCORE Corporation, a leading provider of semiconductor-based components and subsystems for the broadband, fiber-optic, satellite and terrestrial solar power markets, announced today its first deployment of a concentrator photovolataics (CPV) system in China with the XinAo Group, one of China's largest energy companies. As part of an earlier agreement, the 50 kilowatt (kW) test and evaluation system is fully installed and operational, and is producing power in accordance with specifications. EMCORE and XinAo continue to have discussions regarding the possible construction of a joint-owned plant in China, to manufacture CPV systems designed and certified by EMCORE for its innovative coal gasification project and the Chinese market. Dr. John Iannelli, Corporate Chief Technology Officer and General Manager of EMCORE's Solar Power Division stated, "We are pleased to introduce the first CPV terrestrial power system in China in partnership with the XinAo Group and look forward to pursuing other solar power opportunities in China's emerging renewable energy market."
In early October, EMCORE was also granted access permits for its 850-kW commercial solar park installation in the Extremedora region of Spain. In addition to these two deployments, EMCORE expects several other pilot sites to be deployed by the end of the year. EMCORE's deployed CPV systems are powered by our industry leading high-efficiency compound semiconductor-based multi-junction solar cells that operate with 500x concentration. EMCORE continues its investment to develop a next-generation system design with enhanced performance (including a module efficiency of approximately 30%) and much improved cost structure. The new design (Generation III) is scheduled to be in volume production by the second half of calendar 2009. EMCORE has recently responded to several RFPs from public utility companies using Gen-III products as its baseline and expects to receive positive feedback on these proposals before the end of 2008.
EMCORE Corporation (emcore.com) 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.
About the XinAo Group
XinAo Group, headquartered in Langfang, China, is a leading company in clean energy integration solutions led by technology innovation, focusing on energy business, coal chemical and biochemical. It has more than 100 subsidiaries and offices in over 60 cities in China and in other countries including Australia, UK and the USA.
Safe Harbor: Statements in this press release that are not historical facts, and the assumptions underlying such statements, constitute "forward- looking statements" and assumptions underlying "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 and involve a number of risks and uncertainties, including (a) the failure of the products mentioned (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, and (iii) to be successful under field conditions, (b) the failure of the products to be selected by prospective customers for large-scale deployment and (c) the ability of the Company's customers to achieve their own business goals and objectives. Readers should also review the risk factors set forth in EMCORE's Annual Report on Form 10-K for the fiscal year ended September 30, 2007. These forward-looking statements are made as of the date hereof, and EMCORE does not assume any obligation to update these statements.
TTC Group, Victor Allgeier
P: 646-290-6400 - E: info[.]ttcominc.com.