August 5, 2013

Cree Licenses GaN Device Patents to Transphorm

Provides Access to Key Patents for GaN Power Device Market
DURHAM, NC -- Cree, Inc., today announced that it signed a non-exclusive worldwide patent license agreement with Transphorm, Inc. that provides access to Cree’s extensive family of patents related to GaN high electron mobility transistor (HEMT) and GaN Schottky diode devices for use in the field of power conversion devices. The licensed family of patents addresses various aspects of making GaN power devices, including nitride materials, HEMT and Schottky diode designs and processing technology. While GaN HEMTs are already used extensively in RF markets by Cree and others, their use in power conversion markets has been targeted by Transphorm and a number of other companies.

“Over the last 17 years, Cree has invented technology that enabled the successful introduction of reliable GaN HEMT devices in the RF market,” stated John Palmour, Cree CTO, Power & RF and one of Cree’s co-founders. “Many of these inventions can and are expected to be used by others to manufacture devices in the burgeoning area of GaN power-management systems.”

Information about Cree’s GaN HEMT power device license program may be found at www.cree.com/about-cree/licensing/licensing-programs or may be obtained by sending an e-mail to licensing@cree.com

For additional Transphorm information, please visit www.transphormusa.com.

About Cree
Cree is a market-leading innovator of semiconductor products for power and radio-frequency (RF) applications, lighting-class LEDs and LED lighting solutions.

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.cree.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 uncertain demand for products using the licensed technology, 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 24, 2012, and subsequent filings.

Cree® is a registered trademark of Cree, Inc.  Transphorm is a trademark of Transphorm Inc.