|[August 28, 2014]
Cree Introduces Industry Breakthrough Replacement for Halogen MR16 Lamps
DURHAM, N.C. --(Business Wire)--
Cree (News - Alert), Inc. (Nasdaq: CREE) introduces the MR16 Series LED lamp with
TrueWhite® Technology, that delivers the soft, diffused light
of a traditional 50-watt halogen MR16 lamp, and is designed for global
compatibility with virtually all existing sockets. With a suggested
retail price of USD 25, Cree MR16 TrueWhite LED lamps consume up to 83
percent less energy and are designed to meet ENERGY STAR (News - Alert)®
qualification to deliver a rapid payback of less than one year.*
"The Cree® MR16 TrueWhite® LED lamp is the best
50-watt halogen replacement lamp to combine the energy saving benefits
of LED with the light distribution and color quality our clients
expect," said Lee Mehler, principal architect and president, LMHT
Associates/National Restaurant Designers. "We've been disappointed with
other MR16 LED lamps on the market, but after testing the Cree®
MR16 Series TrueWhite® LED lamp we are specifying and
recommending the use of this product for new and retrofit projects to
replace existing halogen MR16 lamps with Cree."
"Cree's latest innovation is poised to replace the billions of MR16
lamps currently installed around the world by delivering an
unprecedented combination of energy savings, color quality and
compatibility. The Cree® MR16 Series TrueWhite®
LED lamp is setting a new standard for the category," said Norbert
Hiller, Cree executive vice president, lighting.
Featuring a design that delivers greater than 580 lumens in conjunction
with a proprietary lens, Cree MR16 Series TrueWhite LED lamps eliminate
the glare commonly associaed with 50-watt halogen MR16 lamps to deliver
a soft, diffused light with category-leading Color Rendering Index of
92. Cree MR16 Series TrueWhite LED lamps are dimmable and available in
15-degree spot, 25-degree flood and 40-degree wide flood beam angles in
a 1.97-inch ANSI-compliant form factor, allowing them to easily fit into
existing tracks for a one-for-one replacement.
The Cree MR16 Series TrueWhite LED lamp is available through
distribution throughout the United States and Canada. Please visit http://www.cree.com/lighting/MR16series
for more information.
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.
Please refer to www.cree.com/lighting
for additional product and company information.
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 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; the risk that actual savings and lifetimes 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 29, 2014, and subsequent
Cree® and TrueWhite® are registered trademarks of
ENERGY STAR® is a registered trademark of the U.S.
Environmental Protection Agency.
*Payback compared to 50-watt Halogen MR16 lamp and based
on usage of 12 hours per day and the national average of $0.13 per kWh
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