January 23, 2014

Cree Shatters Efficiency Benchmark with First 200-Lumen-Per-Watt LED Luminaire

DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) raises the performance bar again with the demonstration of the first 200-lumen-per-watt (LPW) LED concept luminaire, which is more than twice the efficiency of the best linear fluorescent luminaires. The latest Department of Energy (DoE) projections* had estimated that this level of luminaire efficiency would not occur until after 2020, but Cree’s latest innovation has made this possible six years sooner than projected. The prototype leverages Cree’s vertical integration with innovations in LED chips, optics, materials technology and novel system design to deliver unprecedented performance.

The 3,200-lumen concept luminaire delivered greater than 200 LPW at 80 CRI at thermal equilibrium while remaining within the ANSI color specification for 3000 K. The innovations behind the concept luminaire will enable Cree to deliver increased performance in LED luminaire applications at a lower cost to accelerate LED adoption.

“Demonstrating the industry’s first 200-lumen-per-watt luminaire once again illustrates Cree’s leadership in LED lighting,” said Norbert Hiller, Cree executive vice president, lighting. “The innovation required to achieve this record performance will usher in a new era of increased performance, quality and affordability for our LED lighting customers.”

For more information about Cree® LED lighting, please visit www.cree.com/lighting.

Sources: *DoE Solid State Lighting Research and Development Multi-Year Program Plan, 2013

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.cree.com/lighting.

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 develop and release commercial products with performance comparable to the development results described above; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; the risk that we may be unable to manufacture products based on such technology and development results with sufficiently low cost to offer them at competitive prices or with acceptable margins; 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.