DURHAM, N.C., Nov. 1, 2007 (PRIME NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE), a leader in LED solid-state lighting components, today announced plans to convert all lighting at its Durham headquarters and manufacturing facility to LED lighting and released the results of the first phase of the conversion. The parking lots, entryways, lobby and conference rooms at Cree's headquarters building are now 100-percent lit by energy-efficient, environmentally friendly XLamp(r) LEDs. Cree's LED Workplace(tm) conversion validates the energy savings, quality of light and reality that LED lighting is now a viable option for business and residential consumers.
In a study of the energy usage before and after the lighting conversion, Cree confirmed the energy savings of the newly installed LED lights. The findings indicate that in total the new LED lights use 48% less energy than the incandescent, fluorescent and high-pressure sodium lights they replaced. The combination of the energy savings, reduced maintenance and disposal costs and the environmental savings demonstrate that LED lighting is now a real alternative to traditional lighting solutions.
Cree's local utility, Duke Energy, is collaborating with Cree to explore the benefits of LED lighting. "Our customers are always interested in understanding how to save money through energy efficiency, so we make it our business to support innovative technologies such as LEDs," said Ted Schultz, Duke's vice president of energy efficiency.
"We expect our energy efficiency plans to be approved next year and are committed to having a complete line of lighting solutions available for customers," said Schultz. "At that point, we expect to have programs developed that will take advantage of LED technology."
"Conventional wisdom is that LED lighting is years away from widespread adoption. The truth, however, is that the performance of Cree's LED technology enables real LED lighting solutions today," said Chuck Swoboda, Cree chairman and CEO. "The conversion of Cree's site demonstrates that the LED Lighting Revolution is well underway and will illustrate the benefits in energy savings, maintenance costs and environmental impacts."
Cree also announced that it has launched a new website to share the results and implementation details of the LED Workplace lighting conversion with other organizations. The new LED Workplace site, www.ledworkplace.org, will include lighting vendor information and the light, energy and maintenance metrics that form the basis for LED lighting's cost savings. This site will also feature other LED Workplace installations.
For additional information on the benefits of converting various lighting applications to LED lighting in the work environment and to learn more about LED Workplace, visit www.ledworkplace.org.
About Duke Energy
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
About Cree, Inc.
Cree is a market-leading innovator and manufacturer of semiconductors and devices that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree's market advantage is its world-class materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products.
Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current, switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixture makers to defense-related federal agencies.
Cree's product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, power-switching devices and radio-frequency/wireless devices. For additional product specifications 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 possibility that actual energy savings may vary from expectations; the risk we may encounter delays or other difficulties in ramping up production of our 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, 2007, and subsequent filings.
Cree and XLamp are registered trademarks, and LED Workplace is a trademark of Cree, Inc.