Cree Sets Performance Standard with Introduction of Next Generation LED Canopy Series

  Cree Sets Performance Standard with Introduction of Next Generation LED
  Canopy Series

 Latest Innovation Delivers Unique Combination of Increased Performance at a
                              Lower Initial Cost

Business Wire

DURHAM, N.C. -- May 07, 2013

Cree, Inc. (Nasdaq: CREE) announces a breakthrough innovation in canopy LED
lighting with the introduction of the CPY250 canopy and soffit lighting
series. Consuming 75 percent less energy than the MH (Metal Halide) systems
it’s designed to replace and 5-15 percent less energy with more than 35
percent increased performance compared to competing higher-cost LED
luminaires, the new CPY Series delivers exceptional visual environments across
a range of canopy applications including gas stations, bank drive-through ATMs
and hotel/airport drop-off centers.

“Canopy operators are under constant pressure to lower operating costs while
simultaneously providing safe and visually appealing lighting,” said Greg
Merritt, vice president, lighting at Cree. “The new CPY Series, with its slim,
low-profile design, is the perfect upgrade solution. The high-performance LED
luminaires not only outperform existing LED and MH solutions but also enable
the lowest total cost of ownership objectives to be achieved.”

A canopy installation with Cree^® CPY250 luminaires can deliver a payback
period of less than two years as compared to the antiquated MH recessed and
surface-mount solutions.* The new series delivers increased value not only
through an affordable initial cost, but also throughout the life of the
installation – offering extremely low energy consumption and low operating
expense.

Available in both flat and prismatic drop lens, the CPY250 provides two
illumination aesthetics to meet the visual, as well as the vertical and
horizontal illumination performance needs of a typical canopy application. The
CPY250 can seamlessly mount to virtually any canopy deck and is secured in
place with self-sealing screws that provide a reliable water-tight seal. The
integrated driver within the canopy housing further simplifies installation,
reducing installation time and cost. The new canopy series also features
Cree’s industry leading 10-year limited warranty.

The Cree CPY250 Series is sold through Cree lighting sales channels. Please
visit www.cree.com/lighting/cpyseries to learn more.

* Based on typical commercial usage of 12 hours per day and the national
average $0.12 per kWh electric costs and virtually zero maintenance.

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.

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; the risk that 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 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 24, 2012, and
subsequent filings.

Cree^® is a registered trademark of Cree, Inc.

Contact:

Cree, Inc.
Gena Fiegel, 919-407-7651
Corporate Communications
media@cree.com
 
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