August 4, 2016

Next-Generation Cree CPY LED Canopy Luminaire Delivers Category-Leading Efficiency

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) continues to break efficiency records with the next generation of its best-selling CPY 13,000 lumen LED canopy luminaire, delivering category-leading efficiency of up to 136 lumens per watt (LPW).* This new 13,000 lumen Cree® canopy luminaire offers superior illumination and industry-leading efficiency, as well as easy installation and lower total cost of ownership for better light experiences. Already a favorite with canopy owners for its uniform, clean white light, the 13,000 lumen CPY luminaire boosts efficacy by 20 percent, lowering operating costs while enhancing roadside visibility and appeal at service stations, convenience stores and drive-through restaurants or banking locations.

“Gas stations, travel centers and quick-service restaurants are under constant pressure to increase traffic and lower operating costs while providing safe and visually appealing lighting,” said David Elien, Cree senior vice president, lighting. “The Cree® CPY 13,000 lumen LED canopy luminaire delivers superior illumination that provides a comfortable, visually appealing environment for a better overall customer experience while significantly trimming operating costs.” 

The improved luminaire is DesignLights Consortium® Premium qualified for maximum utility rebates and now generates added energy savings of $12 a year per luminaire, totaling cost reductions of more than $34,000 over 10 years for a typical petroleum retrofit installation.* It is also Class I, Division 2 hazardous-location rated for direct mount applications, with an expanded range of options for areas where flammable liquids and gasses are present.

Replacing metal halide luminaires with the CPY Series canopy luminaire is quick and simple with a slim, low-profile design that eliminates the need to cut into the canopy deck and a seamless direct mount that provides a water-tight seal in virtually any canopy or soffit for easy installation. 

The entire CPY Series is also available at 4000K, and comes with Cree’s industry-leading 10-year limited warranty. There are two optics choices, a flat or prismatic drop lens to meet the visual, as well as the vertical and horizontal illumination performance needs of a typical canopy application. The integrated driver within the canopy housing further simplifies installation, reducing installation time and cost.

The Cree CPY Series is available now and sold through Cree lighting sales channels throughout the U.S. Please visit http://lighting.cree.com/cpy-series to learn more.

*Based on 136 LPW at 5700 CCT.

**Payback and energy savings are based on the national average electricity rate, recommended maintenance schedule, and typical maintenance costs over common assessment periods (application life).

About Cree
Cree is a market-leading innovator of lighting-class LEDs, lighting products and semiconductor products for power and radio frequency (RF) applications. Cree believes in better light experiences and is delivering new innovative LED technology that transforms the way people experience light through high-quality interior and exterior LED lighting solutions.

Cree’s product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree’s products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and 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 the risk that actual savings and lifetimes will vary from expectations; the risk 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 our new 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 28, 2015, and subsequent filings.

Cree® is a registered trademark of Cree, Inc.  DesignLights Consortium® is a registered trademark of Northeast Energy Efficiency Partnerships, Inc.

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