February 20, 2012
Cree Joins Forces with League of Green Embassies to Drive Energy Savings and Showcase Sustainable U.S. Building Products
Five European Installations Yield up to 76 Percent Energy Savings
-- Cree, Inc. (Nasdaq: CREE), announces participation in a series of energy efficiency renovations across U.S. Embassies in Vienna, Rome, Berlin, Madrid and Lisbon. The installation of energy-efficient interior and exterior LED lighting by Cree is part of a visionary program spearheaded by the Alliance to Save Energy and The League of Green Embassies, a U.S. Department of State initiative to promote international cooperation in energy efficiency and clean technology.
The range of LED lighting products being installed at each residence varies according to its unique needs. The energy savings for these installations as compared to the old lighting ranges from 45 percent to 76 percent, which can have significant economic impact due to the cost of electricity in these locations. Older, energy-wasting lighting is being replaced with energy-efficient LED lighting in security lighting, indoor lighting, area lighting, walkway lighting and parking lot and roadway lighting.
“The goal of the League of Green Embassies is to make each participating embassy as energy efficient as possible and to use these embassies as platforms for showcasing U.S. energy innovation technologies and products,” said Bruce J. Oreck, U.S. Ambassador to Finland. “We want to encourage companies to create and showcase for a global market the latest technologies that reduce energy waste and lower costs.”
The League of Green Embassies was established to advance the 2007 Presidential mandate to reduce greenhouse gas emissions in U.S. government buildings; to demonstrate the capabilities of U.S. products and technologies to the world market; and to increase the exports of U.S. products and services in line with the National Export Initiative.
“Embassies are a great vehicle to showcase U.S. innovation and influence global commercial and industrial organizations to take action, consume less energy and advance energy efficiency,” said Greg Merritt, vice president corporate marketing, Cree. “Cree is excited to be part of the League’s initiative and to provide the embassies with Cree® high-performance, energy-efficient interior and exterior LED lighting.”
The completed installations are expected to be unveiled throughout 2012. The embassies will host a VIP and press reception and exhibition to provide guests a firsthand look at recent upgrades in the embassy. For more information visit www.leagueofgreenembassies.org/
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, backlighting, electronic signs and signals, power suppliers and solar inverters.
For additional product and company information, please refer to www.cree.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 actual savings will vary from expectations; customer acceptance of LED 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 26, 2011, and subsequent filings.