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New solar technology to boost Emcore -Barron's

Post Time:Oct 22,2008Classify:Glass QuotationView:469

Shares of small solar-power company Emcore may have fallen 75 percent this year but its new technology has made the stock more affordable, according to Barron's.

It said the Albuquerque, New Mexico, company's prospects are bright because of its new concentrated photovoltaic, or CPV, technology that offers the next stage in the evolution of solar power.

One hedge-fund manager told Barron's that if the technology gains traction, investors could see Emcore shares rise several-fold in the next two to three years.

"It's a venture bet on a promising and demonstrated technology that could be worth billions," the hedge fund manager, who was not identified, was quoted as saying.

"You either believe that CPV will be a huge market or you don't. And if you do think CPV is real, then Emcore is the de facto winner, period."

CPV was pioneered by companies such as First Solar, another stock that has fallen out of favor with investors, the paper said.

The technology results in a more efficient solar cell than those created by First Solar's thin-film technology, allowing Emcore to create a greater amount of energy per square surface area at a lower overall cost, Barron's said.

Emcore's stock closed at $3.69 Friday on Nasdaq after hitting a peak late last year of $15.90 per share.

Barron's said the company's telecom fiber-optics business is expected to generate revenues of $185 million in fiscal 2008. The solar business could produce about $80 million in the fiscal year that ended Sept. 30, Barron's said.

Source: Glass International Author: shangyi

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