Solar Stock EMCORE (Nasdaq: EMKR) Awarded Solar Panel Manufacturing Contract by ATK for NASA's Green Propellant Infusion Mission
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ALBUQUERQUE, N.M. - May 21, 2013 (Investorideas.com renewable energy 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 has been awarded a contract by ATK (NYSE:ATK) to design and manufacture solar panels for NASA's Green Propellant Infusion Mission (GPIM) planned for launch in 2015.
Solar panels populated with EMCORE's most advanced ZTJ triple-junction solar cells will power a satellite that will carry the GPIM payload.
ATK will integrate EMCORE's solar panels into its heritage-designed solar arrays for final flight configuration for the GPIM satellite.
The GPIM project will demonstrate the practical capabilities of AF-M315E, a high-performance green alternative to hydrazine that has traditionally been used to fuel many spacecraft. This innovative, low-toxicity propellant is expected to improve overall vehicle performance. It boasts a higher density than hydrazine, meaning that more can be stored in containers of the same volume, and it delivers a greater thrust per given quantity of fuel.
GPIM is supported by co-investigators including NASA's Glenn Research Center and the U.S. Air Force Research Laboratory at Wright-Patterson Air Force Base in Ohio; Aerojet Corporation, a GenCorp company in Washington; NASA's Kennedy Space Center in Florida; and the U.S. Air Force Space & Missile Systems Center at Kirtland Air Force Base in New Mexico.
"ATK is pleased to be providing the solar arrays for the GPIM project to Ball Aerospace, and we look forward to another successful collaboration with EMCORE in support of this innovative program," said Dave Messner, General Manager of ATK Space Systems in Goleta , Calif.
"EMCORE is extremely pleased and honored to receive this program award from ATK," said Brad Clevenger, Ph.D., General Manager of EMCORE's Photovoltaics Division. "EMCORE has partnered with ATK on many successful missions, and we greatly value our long-standing business relationship. We look forward to supporting ATK on the Green Propellant Infusion Mission."
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 amongst the highest available power to interplanetary spacecraft and earth orbiting satellites. EMCORE's proven manufacturing capability, technology leadership and high-reliability solar cells and panels make us the supplier of choice for demanding spacecraft power systems.
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 space power applications including high-efficiency multi-junction solar cells, Coverglass Interconnected Cells (CICs) and complete satellite solar panels. For further information about EMCORE, visit http://www.emcore.com.
ATK is an aerospace, defense, and commercial products company with operations in 21 states, Puerto Rico , and internationally. Further news and information about ATK can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.
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 EMCORE's expectations, goals or intentions, including, but not limited to, financial performance, production schedules, expected customer sales, 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 EMCORE 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 EMCORE's actual results to differ from those set forth in any forward-looking statement are discussed in more detail in EMCORE's SEC filings available at www.sec.gov, including under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements contained in this press release are made only as of the date hereof, and EMCORE undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
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