Market Overview

EMCORE Corporation Achieves 100th Satellite Deployment Milestone

ALBUQUERQUE, N.M., July 9, 2012 (GLOBE NEWSWIRE) -- EMCORE Corporation (Nasdaq: EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced today that it recently achieved the Company's 100th successful satellite launch and deployment with primary power supplied by EMCORE solar cells or solar panels.

In June, the 100th on-orbit spacecraft powered by EMCORE solar equipment was launched. Built by Space Systems/Loral and powered by solar panels equipped with EMCORE's high-efficiency multi-junction solar cells, the satellite will provide C- and Ku-band capacity for a variety of communications services.

"Completing 100 successful satellite launches is a tremendous milestone for EMCORE and our space satellite solar business," said Christopher Larocca, Chief Operating Officer for EMCORE. "We are especially proud to have achieved this milestone with zero on-orbit failures. EMCORE currently has a total of 120 more satellites under contract to be launched and powered by EMCORE solar equipment over the next several years. We look forward to continued success in this segment by delivering innovative, high-performance solar technology to the satellite power market."

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's proven manufacturing capability, technology leadership, and high-reliability solar panels make us the supplier of choice for demanding spacecraft power systems.

About EMCORE

EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the fiber optics and solar power markets. EMCORE's Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE's Solar Photovoltaics business segment provides products for both space and terrestrial solar power applications. For space applications, EMCORE offers high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs) and complete satellite solar panels. For terrestrial applications, EMCORE offers a broad portfolio of Concentrator Photovoltaic (CPV) multi-junction solar cells and components, as well as commercial rooftop solar concentrator systems. For further information about EMCORE, visit http://www.emcore.com.

About Space Systems/Loral

Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq: LORL), is the leading provider of geostationary commercial satellites, with experience building and integrating some of the world's most powerful and complex satellites and spacecraft systems. The company has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world and currently has more geostationary commercial capacity on orbit than any other manufacturer. For further information about Space Systems/Loral, visit http://www.ssloral.com.

Forward-looking statements:

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 statements include statements regarding the company's expectations, goals or intentions, including, but not limited to, product features and their benefits, product quality and product performance. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements.  Risks and uncertainties that could cause the company's actual results to differ from those set forth in any forward-looking statement are 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.

CONTACT: EMCORE Corporation Navid Fatemi Vice President Business Development (505) 332-5019 navid_fatemi@emcore.com Investor TTC Group Victor Allgeier (646) 290-6400 vic@ttcominc.com
 

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