EMCORE Secures $25 Million Equity Financing Commitment

ALBUQUERQUE, NM--(Marketwire - October 1, 2009) - EMCORE Corporation (NASDAQ: EMKR), aleading provider of compound semiconductor-based components, subsystems andsystems for the fiber optic and solar power markets, announced today thatit has entered into a committed equity financing facility under which ithas the option to sell up to $25 million of its registered common shares toCommerce Court Small Cap Value Fund, Ltd. over a 24-month period. Under theterms of the financing agreement, EMCORE is not obligated to utilize any ofthe facility and remains free to enter into other financing transactions.

EMCORE will determine, at its sole discretion, the timing and dollar amountof each draw under this facility, subject to certain conditions. When andif EMCORE elects to use the facility, the number and price of shares soldin each draw will be determined by a formula, pursuant to which EMCORE willissue shares to Commerce Court at a pre-negotiated discount to the volumeweighted average price of EMCORE's common stock over a preceding period oftrading days. The Commerce Court Small Cap Value Fund, Ltd. seeksdiversified investment opportunities in innovative small and midcapitalization companies that offer compelling growth or valuepropositions. Acqua Capital Management Company serves as an advisor toCommerce Court Small Cap Value Fund, Ltd.

In connection with the execution of the equity financing facility, EMCOREhas issued to Commerce Court 185,185 shares of common stock as a commitmentfee and warrants to purchase 1,600,000 shares of EMCORE common stock atprices that represent a 25% to 75% premium over the market price at thetime of closing. The offer and sale of any shares by EMCORE under thisequity financing facility has been registered pursuant to a shelfregistration statement declared effective by the Securities and ExchangeCommission on July 17, 2009.

"This extremely flexible financing facility is an important addition to ourportfolio of financing options, providing the Company with the ability toraise capital quickly and at a competitive cost while potentially managingdilution more effectively by issuing shares in multiple tranches at timesof our choosing," stated John M. Markovich, Chief Financial Officer ofEMCORE Corporation. "This equity facility, in combination with our line ofcredit with Bank of America and our improved operating performance, hasserved to substantially improve the Company's liquidity position."

Net proceeds from any sale of the securities will be used for generalcorporate purposes which may include new product development, capitalexpenditures and increases in working capital necessary to support thegrowth in certain sectors of our business.

This press release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer, solicitationor sale would be unlawful prior to registration or qualification under thesecurities laws of any state.

About EMCORE:

EMCORE Corporation offers a broad portfolio of compoundsemiconductor-based products for the broadband, fiber optic, satellite andsolar power markets. EMCORE's Fiber Optic segment offers opticalcomponents, subsystems and systems for high speed data andtelecommunications networks, cable television (CATV) andfiber-to-the-premises (FTTP). EMCORE's Photovoltaic segment providesproducts for both satellite and terrestrial applications. For satelliteapplications, EMCORE offers high efficiency Gallium Arsenide (GaAs) solarcells, Covered Interconnect Cells (CICs) and panels. For terrestrialapplications, EMCORE is adapting its high-efficiency GaAs solar cells foruse in solar concentrator systems. For further information about EMCORE,visithttp://www.emcore.com.

Forward-looking statements:

The information provided herein may include forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. Such forward-looking statementsinclude, but are not limited to, statements regarding whether the equityfinancing facility will be effective in helping EMCORE raise capital,manage dilution and achieve its other financing objectives and statementsregarding the anticipated use of proceeds from any sale of securities underthe equity financing facility. Such forward-looking statements involverisks and uncertainties that, if realized, could materially impair theCompany's liquidity, results of operations, business, and financialcondition. These risks and uncertainties include, but are not limited to,(a) the successful implementation of the equity financing facility over theduration of its term and (b) the risk factors discussed in our AnnualReport on Form 10-K for the fiscal year ended September 30, 2008, asupdated by annual, quarterly and other reports and documents we file fromtime to time with the Securities and Exchange Commission. Theforward-looking statements contained in this news release are made as ofthe date hereof, and EMCORE does not assume any obligation to update thereasons why actual results could differ materially from those projected inthe forward-looking statements.

Contact:

EMCORE Corporation
Silvia M. Gentile
Executive Offices
(505) 323-3417
info@emcore.com

TTC Group
Victor Allgeier
(646) 290-6400
vic@ttcominc.com