Emcore (EMKR) Gets Air Force Solar Contract For Space Applications

EMCORE (EMKR) is announcing yet another solar contract for space applications.  Just last week Alison reported the news that Emcore had been awarded a NASA contract to produce solar panels for the Global Precipitation Measurement aircraft.  Today, the company is announcing a $5.7 million contract with the Air Force to develop high efficiency solar cells for space applications and includes a provision for an additional one year award of $3.4 million for advanced IMM development.

“We are pleased to be partnering up with Air Force Research Laboratory to further develop EMCORE’s proprietary inverted metamorphic photovoltaic technology,” said Christopher Larocca, Chief Operating Officer of EMCORE. “EMCORE’s IMM cells represent a significant leap in photovoltaic cell development and we believe this contract will allow EMCORE to demonstrate industry leading cell efficiency of 37%. This level of efficiency, combined with the lightweight and flexible properties of our cell, will enable significantly broader space and terrestrial photovoltaic applications.”

Following a decent gap up on the news this morning, the stock is trading well off the highs and now in the red today. 

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