March 29, 2012

Cree Expands Industry’s Best-Selling CR LED Troffer Family

High-Performance CR Series is Now Bigger, Better, Faster and Even More Affordable
DURHAM, N.C. -- One year after introducing the revolutionary CR Series LED Troffer, Cree, Inc. (Nasdaq: CREE) is expanding the CR Troffer family to address more applications and to eliminate the use of antiquated fluorescent technology in new or retrofit commercial and industrial settings. Cree is also announcing new pricing to drive even faster payback for building contractors, designers and owners.

The CR Series offers payback-friendly pricing and a no-compromise alternative to fluorescent lighting — consuming nearly 50 percent less energy than a comparable linear fluorescent and delivering more than twice the lifetime. With an estimated payback of less than one year in a typical new office installation, Cree troffers provide superior performance and greater energy savings over fluorescent options.*

The new troffers now address three times the number of applications, including surface-mount, in-ceiling retrofits and suspended light engine luminaires. The popular CR24™ and CR22™ Troffers are available to ship directly from stock to accommodate high demand and jump-start end-user payback. Pricing for 0-10V dimming control to five-percent is significantly reduced, which means daylight harvesting has never been more affordable.

“In my 28 years in the electrical industry, I have never had as much excitement and success with a product line as I have with the Cree® CR Series LED Troffers,” said David Fredd, manager lighting business development, Graybar. “No other lighting manufacturer offers this level of energy saving performance and color quality — Cree CR Series Troffers deliver a combination of performance, pricing and efficacy that is truly untouchable.”

The CR Series has expanded three-fold by offering CR24 upgrade kits, a standalone light engine and SMK Series surface mount kits. The CR24 UPKIT provides a quick upgrade solution to replace existing, outdated fluorescent luminaires while leaving the ceiling intact. The light engine, CR-LE, is now available as a standalone luminaire and offers an economical alternative to replacing fluorescent strips in “back-of-the-house” lighting applications. The entire CR Series of troffers and light engines can now be installed in surface mount applications — extending payback beyond T-bar ceilings. All of these solutions are built on the same great performance of the CR Troffer and are now available in the new 3000 Kelvin color temperature for retail and hospitality applications demanding beautiful, warm light.

Cree CR Troffers, CR24 UPKIT and CR-LE products are also now available with an integrated LED battery pack. The 1400 lumen battery pack eliminates the cumbersome task of rewiring a fixture just to change the battery. CR Troffers continue to outperform traditional lighting options and now deliver the widest range of lumen levels (2200, 3100, 4000 and 5000 lumens) for the popular CR24, CR14™ and CR-LE products. The CR Series is powered by Cree TrueWhite® Technology to deliver an unprecedented combination of 90 CRI and up to 110 lumens per watt.

“Cree changed the indoor lighting industry one year ago when we introduced the first affordable LED troffer series,” said David Elien, vice president, Cree lighting. “The CR Series is now the industry’s best-selling LED troffer. With this success, Cree announces major extensions and says thank you by making our CR Series even more affordable to drive faster payback.”

The Cree CR Series is made in the United States, sold through Cree lighting sales channels and is currently shipping in volume. For additional information about the Cree CR Series, please visit www.CreeLEDLighting.com.

*Payback calculations compare the Cree CR Series LED Troffers with a new architectural two-tube T8 fluorescent fixture of comparable light output and features. The calculations also assume a typical office space of 200 units, 12-hour per-day usage, $.10 kWh energy costs, lighting-related HVAC impact and relamp maintenance.

About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio-frequency (RF) applications.

Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.

For additional product and company information, please refer to www.CreeLEDLighting.com. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.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 that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of the new products; the risk that actual savings may vary from expectations; 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 26, 2011, and subsequent filings.

Cree®, Cree TrueWhite® and TrueWhite® are registered trademarks, and CR14™, CR22™ and CR24™ are trademarks of Cree, Inc.