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ALBUQUERQUE, N.M., July 9 /PRNewswire-FirstCall/ -- EMCORE Corporation (Nasdaq: EMKR - News) a leading provider of semiconductor-based components and subsystems for the broadband, fiber-optic, satellite and terrestrial solar power markets, announced today that it entered into two definitive supply agreements for solar cell receivers in June 2008 with a total value of approximately $29 million. These supply agreements incorporate advance deposits to ensure production priority for these customers. The end applications for the product to be delivered range from solar farm to commercial rooftop installations employing Concentrating Photovoltaic (CPV) technology. Production for these orders has commenced and shipments are scheduled to occur over the next 24 months.
The awards of these purchase orders further strengthen EMCORE's position as the leading supplier in CPV technologies and products, and diversify our growing terrestrial component backlog.
EMCORE has introduced a line of integrated CPV solar cell products optimized for operation from 500X to 1000X concentration with a minimum average efficiency of 37%, which provide terrestrial systems integrators with a complete photovoltaic solution for their CPV systems. EMCORE's CPV receiver is easily integrated into existing CPV systems and has emerged as the most desirable form in the industry. EMCORE is the first company to provide its customers with 20 years of performance warranty. By choosing EMCORE's complete and highly reliable receiver solution, CPV system developers are able to focus their efforts on advancing their optical design and optimizing the balance of the system, significantly reducing their time to market.