EMCORE Corporation Awarded New Long-Term Supply Contract by SSL for High-Efficiency Multi-Junction Solar Cells

EMCORE Corporation Awarded New Long-Term Supply Contract by SSL for
High-Efficiency Multi-Junction Solar Cells

Award Represents the Largest Contract in EMCORE's History

ALBUQUERQUE, N.M., June 18, 2014 (GLOBE NEWSWIRE) -- EMCORE Corporation
(Nasdaq:EMKR), a leading provider of compound semiconductor-based components
and subsystems for the fiber optics and space solar power markets, announced
today that it has entered into a new long-term supply agreement with Space
Systems/Loral, LLC (SSL) to manufacture and deliver high-efficiency,
multi-junction solar cells for SSL's satellite programs. This new contract
follows several other earlier long-term supply agreements between SSL and
EMCORE. The solar cells will be designed and produced at EMCORE's
state-of-the-art manufacturing facility located in Albuquerque, New Mexico,
USA.

EMCORE has been supplying SSL with solar cells for its satellite programs for
15 years. In early 2013 EMCORE reached a milestone of delivering its 1
millionth high-efficiency, multi-junction solar cell to SSL, which will
ultimately represent more than a megawatt of power delivered into space.
EMCORE's long-term business relationship with SSL has been an important
component in the growth of the Company's Photovoltaics division since 1998.

"After so many years of working together, EMCORE is not just a trusted
supplier, but also a part of the extended SSL team," said Vivian Mackintosh,
Vice President, Supply Chain Management at SSL. "EMCORE makes an important
contribution to help SSL meet the demand for the world's highest power
spacecraft."

"We are proud to continue our long-standing relationship with SSL through
renewal of our long term supply agreement and appreciate SSL's continued
confidence in EMCORE," commented Dr. Brad Clevenger, Executive Vice President
and General Manager of EMCORE's Photovoltaics Division. "SSL has been a
cornerstone of our satellite solar power business and we look forward to
contributing to their success for many years to come."

"We value our long history as a key supplier of solar cells for SSL's space
programs and are especially proud that our solar cells have continued to meet
SSL's requirements for performance and reliability for 15 years," added Navid
Fatemi, Vice President of Business Development of EMCORE's Photovoltaics
Division. "We now have a tremendous opportunity to build upon that successful
legacy."

EMCORE is one of the world's leading manufacturers 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 levels of performance to
interplanetary spacecraft and earth orbiting satellites.

Since 2001 EMCORE solar cells or panels have successfully supplied primary
power to 130 space missions. The Company's proven manufacturing capability,
technology leadership and unsurpassed reliability make EMCORE the supplier of
choice for demanding space programs.

About EMCORE

EMCORE Corporation offers a broad portfolio of compound semiconductor-based
products for the fiber optics and space 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.

About SSL

SSL has a long history of delivering reliable satellites and spacecraft
systems for commercial and government customers around the world. As the
leading provider of commercial satellites, the company works closely with
satellite operators to provide spacecraft for a broad range of services
including television and radio distribution, digital audio radio, broadband
Internet, mobile communications, and Earth observation. Billions of people
around the world depend on SSL satellites every day. For more information,
visit www.sslmda.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 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.

CONTACT: EMCORE Corporation
         Navid Fatemi
         Vice President, Business Development
         (505) 332-5000
         navid_fatemi@emcore.com
        
         Investor
         TTC Group
         Victor Allgeier
         (646) 290-6400
         vic@ttcominc.com

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