Press release from Business Wire
Cree Extends Series of LED Bulbs to Meet Growing Consumer Demand
<p class='bwalignc'> <i>Accelerates Consumer Lighting Revolution with New LED Flood Light that Saves Money and Reduces Energy Consumption</i> </p>
Tuesday, July 16, 2013
Cree Extends Series of LED Bulbs to Meet Growing Consumer Demand09:00 EDT Tuesday, July 16, 2013
DURHAM, N.C. (Business Wire) -- Just four months after introducing The Biggest Thing Since the Light Bulb™, Cree, Inc. (Nasdaq: CREE) announces the Cree® LED BR30 Flood Light. The ground-breaking Flood Light leverages the same technical breakthroughs that made the Cree LED bulb possible – delivering consumers a flood light that looks and lights like a traditional incandescent BR30 but uses 85 percent less energy and is designed to last 25 times longer than comparable incandescent flood lights. Featuring the same shape, same glass dome and same color light of the typical incandescent flood it replaces, the new Cree LED Flood Light blends seamlessly with existing BR flood lights and gives consumers the flexibility to upgrade one or multiple bulbs without any noticeable difference – especially in recessed lighting applications. In fact, the only difference they're likely to notice is lower utility bills. The new LED Flood Lights are backed by Cree's industry-leading 10-year limited warranty and available exclusively at The Home Depot®.
Just four months after introducing The Biggest Thing Since the Light Bulb, Cree announces the Cree LED BR30 Flood Light, delivering consumers a flood light that looks and lights like a traditional incandescent BR30 but uses 85 percent less energy and is designed to last 25 times longer than comparable incandescent flood lights. (Photo: Business Wire)
“We're in the midst of a consumer lighting revolution and Cree is truly enabling people to change the way they light their home forever,” said Chuck Swoboda, Cree chairman and CEO. “Cree is committed to solving consumer problems by delivering products that are better than those being replaced, while maintaining the experience people expect. The new Cree BR30 is another milestone innovation to drive 100 percent adoption of LED lighting, saving consumers money and reducing overall energy consumption.”
Featuring game-changing design, beautiful warm light, long-life and an affordable price-point, the BR30 Flood Light is ideal for use in most common track, recessed and hard-to-reach fixtures. The Cree LED BR30 Flood Light was conceived to make quality LED lighting affordable with a retail price of $19.97 for the soft white (2700K) 65-watt incandescent replacement. For those who prefer a cooler light color, the Cree LED BR30 Flood Light is also available in a daylight (5000K) color with a retail price of $21.97. The economical bulbs pay for themselves and then pay customers back for years to come.* The new LED bulbs turn on instantly and are dimmable with most standard incandescent dimmers. Both versions of the new Cree bulbs deliver 650 lumens and consume only 9.5 watts.
The Cree LED BR30 Flood Lights are available online at The Home Depot now and will be available in stores across the USA over the next 30 days. Please visit www.homedepot.com/cree to purchase the bulbs online today.
*Based on Cree BR30 LED Flood Light 65-watt replacements at 9.5 watts, $0.11 per kilowatt-hour, 25,000 hour lifetime and average use of six hours per day.
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.creebulb.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 we may be unable to manufacture these new products with sufficiently low cost to offer them 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 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 24, 2012, and subsequent filings.
Cree® is a registered trademark, and The Biggest Thing Since the Light Bulb.™ is a trademark of Cree, Inc.
The Home Depot® is a registered trademark of Homer TLC, Inc.
Gena Fiegel, 919-407-7651