July 31, 2012

Cree Raises Industry Standard with New 170 Lumen-Per-Watt Prototype LED Light Bulb

Breakthrough Innovations Optimize Performance, Lower Cost and Drive LED Lighting Adoption
DURHAM, NC --

Less than one year after showcasing the 152 lumens-per-watt concept LED bulb, Cree, Inc. (Nasdaq: CREE) delivers a new performance benchmark with the 170 lumens-per-watt (LPW) prototype LED light bulb. The innovations behind the high-performance 170 LPW LED bulb are enabling significantly higher efficacy and lower cost for Cree’s luminaire portfolio and demonstrate Cree’s continued commitment to accelerate the adoption of LED lighting by addressing initial cost and payback – key barriers to widespread LED lighting adoption.

LED lighting at this level of performance is only made possible by advancements across all elements of the LED lighting system – lighting-class LEDs, optics, drivers and thermal management. LEDs based on Cree’s innovative SC³ Technology Platform enable this industry-leading R&D lighting result. The SC³ Technology Platform is built upon Cree’s advanced silicon carbide technology and features advancements in the LED chip architecture and phosphor.

“Optimizing each LED design element was critical in achieving the performance reached by Cree’s new prototype LED bulb,” said Nick Medendorp, vice president of research and development, Cree lighting. “The technology embodied in the new 170 LPW concept LED bulb is enabling us to develop higher-performance and lower-cost Cree LED luminaires. By pushing the limits of what is possible, Cree continues to strive to develop new technology that uses less energy and provides unmatched light quality and value to our customers.”

Third party testing by independent lab OnSpeX confirmed that Cree’s new 170 lumen-per-watt prototype LED bulb delivered more than 1250 lumens and consumes only 7.3 watts. The bulb uses Cree® TrueWhite® Technology to deliver a CRI of 90+. As an efficiency comparison, a traditional 75-Watt incandescent light bulb produces 1100 lumens, which is only 14.6 lumens per watt.

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

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.CreeLEDLighting.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 we may be unable to develop and release commercial products with performance ratings comparable to the development results described above; the risk that we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; 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.

Cree, Cree TrueWhite and TrueWhite are registered trademarks Cree, Inc.