EMCORE Receives Additional $12 Million Order from Space Systems/Loral for Triple-Junction Solar Cells; Highly Efficient Solar Cells Offer Added Power Without The Weight.

Business and High-Tech Editors

SOMERSET, N.J.--(BUSINESS WIRE)--Dec. 20, 2000

EMCORE Corporation (NASDAQ:EMKR) today announced the receipt of an additional $12 million order from Space Systems/Loral (SS/L), based in Palo Alto, California, for high efficiency, triple-junction solar cells. The solar cells will be used by SS/L to provide power in space for advanced communications satellites.

"We are thrilled to supply SS/L with our solar cells as they prepare to launch satellite systems that will provide an array of services," said Reuben Richards, president and CEO of EMCORE. "Our product will give SS/L a leading-edge solution that enables them to manufacture satellites that offer increased power without adding weight."

John M. Klineberg, president of SS/L, commented, "We selected EMCORE's innovative high-efficiency solar cell products because their technology will allow us to design satellite systems that offer increased power over the life of the spacecraft. In satellite communications, solar cells are extremely significant, since higher solar-cell efficiency translates directly into enhanced performance."

EMCORE's gallium arsenide (GaAs) triple-junction solar cells provide more power than current technology without increasing spacecraft weight by converting more of the spectral energy into electrical power. The Company's solar cells achieve a BOL (beginning of life) efficiency of 26%, while degradation after 15 years of orbit is only 8%, compared to 15% degradation that is typical of silicon-based solar cells. Additionally, EMCORE's solar cells accomplish end of life (EOL) efficiencies of approximately 24%, which are the highest EOLs in the solar cell industry.

"This is another in a series of orders that highlights the trend towards the use of highly efficient multi-junction solar cells in commercial and military satellite applications," said Hong Hou, Chief Technology Officer of EMCORE's Albuquerque, New Mexico divisions. "These new triple-junction solar cells provide 71% more power at end-of-life, on-orbit, than the highest efficiency silicon cells." The efficiency of the multi-junction solar cell is directly dependent upon converting the entire energy spectrum of the sun through the use of multiple solar cell junctions that respond to different portions of the spectrum. Each junction is matched to make optimum use of the wavelength of the energy where it is most efficient and allow the longer wavelength energy to pass through to the lower junctions. The control of the thickness of these junctions and the defect free quality of the layers allows for maximum cell performance or efficiency.

About Space Systems/Loral

Space Systems/Loral, a subsidiary of Loral Space & Communications (NYSE: LOR), is a premier designer, manufacturer, and integrator of powerful geostationary satellites and satellite systems. SS/L also provides a range of related services, including mission control operations and procurement of launch services. SS/L has an international base of commercial and governmental customers whose applications include broadband digital communications, wireless telephony, direct-to-home broadcast, environmental monitoring, and air traffic control. SS/L is ISO 9001 certified. For more information, visit www.ssloral.com.

About EMCORE

EMCORE Corporation offers a comprehesive portfolio of compound semiconductor products for the rapidly expanding broadband and wireless communications and solid state lighting markets. The Company's integrated solutions philosophy embodies state of the art technology, material science expertise and a shared vision of our customer's goals and objectives to be leaders and pioneers in the rapidly growing world of compound semiconductors. EMCORE's solutions include: optical components for high speed data and telecommunications; solar cells for global satellite communications; electronic materials for high bandwidth communications systems, such as Internet access and wireless telephones; MOCVD tools for the growth of GaAs, AlGaAs, InP, InGaP, InGaAlP, InGaAsP, GaN, InGaN, AlGaN, and SiC epitaxial materials used in numerous applications, including data and telecommunications modules, cellular telephones, solar cells and high brightness LEDs. For further information about EMCORE, visit http://www.emcore.com.

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 relating to future events that involve risks and uncertainties. Actual operating results may differ materially from such forward-looking statements and are subject to certain risks, including risks arising from: cancellations, rescheduling or delays in product shipments; manufacturing capacity constraints; lengthy sales and qualification cycles; difficulties in the production process; changes in semiconductor industry growth, increased competition, delays in developing and commercializing new products, and other factors described in EMCORE's filings with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.