On Tuesday, the U.S. Department of Defense announced that it has awarded semiconductor manufacturer Emcore a $7.4 million cost-plus-fixed-fee contract under the Advanced Multi-Junction Space Cell Producibility Program.
The objective of the program is to develop small, high-efficiency solar cells for use on small, military-space satellites. Small, because it costs a lot of money to lift anything into space -- solar cells included. High-efficiency, because unlike solar panels on Earth, once a satellite has been lofted into orbit, it's pretty much up there for the duration and devilishly expensive to upgrade to keep up with advances in technology.
Hence, the military wants to make sure that the solar-power panels installed on its satellites are as close to cutting-edge efficient as possible, up to the moment they launch. Details on past government solicitations under this program specify that the military is looking for solar panels that are at least 33% efficient -- i.e., capable of converting 33% of the light-energy they receive into electricity.
Emcore is expected to complete work on this contract by April 13, 2018.
The article Emcore Wins $7.4 Million Contract for Military Satellite Work originally appeared on Fool.com.
Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.