| 02/28/08 - EMCORE Corporation announced that it has been awarded a follow-on production order of $39 million for additional solar cell receiver assemblies. These receivers are to be deployed in Green and Gold Energy's SunCube CPV systems through its world-wide licensees. Additionally, EMCORE has received purchase orders from several other leading CPV system integrators for CPV receiver assemblies. The current backlog for this product line has increased to approximately $86 million. This backlog was reported in EMCORE's Q1 release for fiscal year 2008. Production of CPV receiver assemblies has commenced at EMCORE's high-volume manufacturing line located in Albuquerque, New Mexico. EMCORE has recently introduced a line of integrated solar cell receiver assemblies optimized for operation at 500x to 1000x concentration, which provide terrestrial systems integrators a complete photovoltaics solution for their CPV systems. EMCORE's unique CPV receiver assembly is easily integrated into existing concentrating PV systems and has emerged as the most desirable form in the industry. By choosing EMCORE's complete and highly reliable receiver solution, CPV system developers are able to focus their full efforts on advancing their optical design and optimizing the balance of the system, significantly reducing their time to market. David Danzilio, Vice President and General Manager of EMCORE's Photovoltaics Division stated, "We are delighted that Green and Gold Energy has recognized the market advantage provided by EMCORE's CPV receiver solution. This product fits seamlessly into GGE's existing optical design and eliminates the cost and time required to internally develop this critical element of the system. The conversion of GGE's initial solar cell order to CPV receiver assemblies, as well as the new $39M purchase order, demonstrates both the high confidence our customers have in EMCORE and the realization that our cell receiver assembly provides the shortest time to market for their system." Danzilio added, "This highly differentiated product has gained broad industry acceptance and we see increasing demand from multiple customers around the world. We are currently expanding our production capacity for both solar cells and cell receiver assemblies at our Albuquerque factory, and we entered 2008 with a record firm order backlog exceeding 300 MW. EMCORE's continued investment will continue to provide our CPV customers assured supply of the critical engine driving the deployment of economically viable terrestrial CPV systems." |
