March 30, 2011 - Marketwire -- EMCORE Corporation (NASDAQ: EMKR), compound semiconductor-based components and subsystems provider for the fiber optic and solar power markets, acquired certain assets of Soliant Energy Inc.
Soliant Energy was a leading developer of concentrated photovoltaic (CPV) systems for commercial rooftop applications. Soliant's rooftop CPV system combines best-of-breed module design with patent-pending TipTilt Tracking that offers high energy density, light weight, low profile, and low cost.
The Soliant assets acquired by EMCORE include the equipment, inventory, software, licenses, intellectual property, and tooling for the rooftop solar energy product line. The acquisition was completed as part of an Assignment for the Benefit of Creditors process. EMCORE did not assume any liabilities of Soliant.
EMCORE plans to integrate the former Soliant research and development and pilot production line into its existing facilities located in Alhambra, CA. The commercial manufacturing operation is expected to transfer to EMCORE's low-cost manufacturing joint venture, Suncore, based in Huainan, China. Key members of the former Soliant team will join EMCORE to facilitate the integration, product development, and business development and customer support.
The addition of Soliant's rooftop CPV product line to EMCORE's terrestrial CPV product portfolio gives EMCORE immediate access to the reportedly multi-billion dollar rooftop PV market, and expands the reach of EMCORE's existing ground mount systems, explained Dr. Hong Hou, CEO of EMCORE.
EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the broadband, fiber optic, satellite and solar power markets. For further information about EMCORE, visit http://www.emcore.com.