DURHAM, N.C., SEPTEMBER 16, 2008 — Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has again won the top prize for recessed down lights in the 2008 Lighting for Tomorrow solid-state lighting (SSL) competition. The complete Cree LED lighting family has now been recognized for superior efficacy and design by this contest, organized by the American Lighting Association, the U.S. Department of Energy (represented by Pacific Northwest National Laboratory) and the Consortium of Energy Efficiency.
The Cree LR4 recessed architectural LED down light won the top prize for LED recessed down lights. Entrants in this category must meet the U.S. Department of Energy’s solid-state lighting Energy Star® criteria, slated to go into effect later this year. Selected from 56 entrants, the LR4 underwent independent laboratory testing, under the direction of the U.S. Department of Energy, as part of the award selection. It was praised for “superior energy efficiency and color quality” by the judges.
The Cree LR24, a 24-inch square recessed LED light, was honored for superior efficacy in the “Other Applications” category, reserved for general illumination products not covered by Energy Star that exceed device efficacy of 50 lumens per watt. The LR24, targeted for availability this fall, is designed for use in suspended ceilings and features the same beautiful color rendering, long lifetime and best-in-class efficacy as the other Cree LED lights.
“Cree is proud to extend the success of our LR6 LED down light, last year’s Lighting for Tomorrow grand prize winner,” said Gary Trott, Cree LED Lighting Solutions vice president of market development. “We continue to set the standard for LED lighting by delivering lights that combine the beautiful color of incandescents with nearly twice the energy efficiency of compact fluorescents. Our lights are designed to last more than two decades under typical residential usage.”
Cree’s LED lighting innovation has been praised with numerous other awards including a prestigious 2008 silver International Design Excellence Award (IDEA), a 2008 PCBC Cool Product designation and BuildingGreen’s Top 10 Green Building Products for 2007.
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting solutions, and semiconductor solutions for backlighting, wireless and power applications.
Cree’s product families include recessed LED down lights, blue and green LED chips, high brightness LEDs, lighting-class power LEDs, power-switching devices and radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variable-speed motors, and wireless communications.
For additional product and company information, please refer to www.CreeLLS.com.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to release commercial products with features comparable to the development results described above; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 29, 2008, and subsequent filings.
Energy Star is a registered trademark of the U.S. Environmental Protection Agency.