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Non-Tech : Emcore Corporation (EMKR)

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From: Rock_nj	1/8/2007 11:52:29 AM
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EMCORE Corporation WorldWater Deal WorldWater & Power Corp.: 2006 Breakthrough Year Monday January 8, 7:30 am ET Record Revenues, Strategic Partnerships, Pending Acquisition, Diversity of Solar Projects and New Patents Lay Groundwork for Future Growth Expects to Meet $17 Million 2006 Guideline In November 2006, the Company signed a strategic alliance with EMCORE Corporation (NASDAQ: EMKR - News) wherein EMCORE purchased 26.5% of WorldWater stock on a fully diluted basis for $18 million in cash ($13.5 million on signing and $4.5 million on completion of the strategic agreement before Jan 31, 2007). Under the strategic agreement, EMCORE will supply its high-efficiency multi-junction solar cells and concentrator systems to WorldWater for marketing to the terrestrial market. Contract value of the WorldWater purchase of cells and concentrator systems from EMCORE is up to $100 million over the next 3 years. biz.yahoo.com

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