Cree Expands Portfolio of LEDs for Horticulture Lighting

New XQ-E Photo Red LED Enables More Efficient, Lower Cost Systems

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) expands its industry-leading portfolio of LEDs optimized for horticulture lighting with the introduction of the new Cree XLamp® XQ-E Photo Red LED.  The XQ-E Photo Red LED is capable of providing very high levels of growth-promoting light wavelengths from a footprint that is less than one-third the size of its closest competitor with similar output.  The new XQ-E LED extends the family of smallest LEDs optimized for horticulture and enables lighting manufacturers to reduce the size of luminaires and lower their system cost.

xq-eThis addition expands Cree’s wide range of XQ and XP LEDs that deliver the industry’s highest Photosynthetic Photon Flux (PPF), efficiency and reliability. Both LED families enable the replacement of incumbent lighting technologies at radically lower power with similar spectral content. For example, a high-bay reference design built using Cree® white and photo red LEDs deliver higher average PPF Density than a 1000W double-ended high pressure sodium (HPS) fixture while drawing half the power.

“Cree® LEDs enable us to offer full spectrum LED grow lights that truly mimic natural sunlight,” said Rami Vardi, chief executive officer, Spectrum King LED. “The high performance, high efficiency and high reliability of Cree® LEDs allow us to match the intensity of traditional HPS lamps at a lower system cost, longer life and lower power.”

The XQ-E Photo Red LED is capable of delivering more than 6.4 ?mol/sec of the 660nm peak wavelength light that can be beneficial for plant growth from a 1.6mm x 1.6mm footprint. Cree’s white and color LEDs deliver the full spectrum of light and mimic natural sunlight. Cree’s color LEDs, including royal blue, green, red, photo red and far red LEDs, deliver high PPF in the wavelengths best-suited for the different stages of plant growth. The combination of consistent packages, footprints and drive currents allow easy tuning of spectral content and intensity at the luminaire level. Cree’s new photo red LED leverages the XLamp XQ-E family’s proven optical symmetry and consistency across all colors to improve color uniformity and simplify the production process for lighting manufacturers.

"Our mission at Local Roots is to improve global health by building a better food system, and that means growing food in a responsible way at a cost that increases access to fresh and delicious produce,” said Matt Vail, chief operating officer, Local Roots. “Cree's wide range of high performing LEDs optimized for horticulture allows us to control spectrum and intensity and provide our crops precisely the light they need in order to maximize growth, nutrition and quality. The high efficiency and long-term reliability of Cree® LEDs enables us to lower the cost of the food we grow and feed more people better food."

Product samples of the new XQ-E Photo Red LED are available now and production quantities are available with standard lead times. For more information on Cree’s entire range of LEDs optimized for horticulture lighting, please visit www.cree.com/xlamp/horticulture.

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® and XLamp® are registered trademarks of Cree, Inc.

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