October 15, 2013

Cree Licenses Remote-Phosphor Patent Portfolio to NNCrystal

License Allows NNCrystal’s Customers to Use Remote-Phosphor Optical Elements to Help Shorten Product Time to Market
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) announced it signed a non-exclusive worldwide license agreement with Hangzhou Najing Technologies, Ltd. (NNCrystal US Corp.) that provides access to Cree’s remote-phosphor patent portfolio. The licensed family of patents addresses the fundamental combination of a blue LED and a remote-phosphor element to produce white light, as well as the manufacture, design and placement of the optical element, enabling lighting manufacturers that use NNCrystal’s remote-phosphor optical elements to manufacture remote-phosphor-based LED lights without taking a separate remote-phosphor patent license from Cree. Product time-to-market can be shortened by using Cree’s patented technology and by using NNCrystal’s licensed remote-phosphor optical elements to access the technology.

“Cree is committed to developing innovations that support our customers and help drive LED adoption,” said George Brandes, Cree director of intellectual property licensing. “Licensing of Cree’s remote phosphor patent portfolio to NNCrystal is further proof that our intellectual property strategy is working. By providing access to Cree patents in this manner, Cree is facilitating the LED industry by providing an additional path for lighting OEMs to take in the production of high-quality, energy efficient LED lighting.”

“NNCrystal and our customers respect the intellectual property of others and we recognize the value of licensing this important set of patents as the LED lighting market grows,” said Kai Su, Chief Technology Officer, NNCrystal Corp. “The Cree remote phosphor patent portfolio includes patents that address main concepts of remote phosphor-based light conversion and were originally filed by Cree more than ten years ago. The license includes rights to various patent families that are issued in many countries around the world, giving NNCrystal and our customers access to this important segment of Cree’s patented technology.”

A list of Cree remote-phosphor patents may be found at www.cree.com/about-cree/licensing/licensing-programs.

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 30, 2013, and subsequent filings.