Press release from CNW Group
Cree Brings The Biggest Thing Since the Light Bulb to Canada
Thursday, May 16, 2013
Cree Brings The Biggest Thing Since the Light Bulb to Canada09:00 EDT Thursday, May 16, 2013
All 180 The Home Depot® Canada Stores Now Feature the Cree® LED Bulb
TORONTO, May 16, 2013 /CNW/ - Cree, Inc. (Nasdaq: CREE) extends the availability of its game-changing series of LED bulbs to all 180 of The Home Depot Canada stores across the country. Designed to offer consumers a no-compromise lighting experience at a compelling price, the Cree LED bulb looks and lights like a traditional bulb, uses 84 per cent less energy than a traditional incandescent bulb and features an industry-leading 10-year limited warranty.
"Our mission is to drive 100 per cent LED lighting adoption and we recognize the importance of engaging consumers with an attractive alternative to the billions of energy-wasting light bulbs," said Chuck Swoboda, Cree chairman and CEO. "The Cree LED bulb is the first to offer consumers a breakthrough product at an affordable price. Extending the availability of the Cree LED bulb to The Home Depot Canada, furthers our mission to make inefficient lighting obsolete."
"As the product authority in home improvement needs, our customers look to us to provide them with the most advanced, cost-effective lighting technologies available," said Jeff Kinnaird, merchandising vice president, The Home Depot Canada. "That's why we diligently work with our manufacturing partners to develop innovative alternatives that will help our customers save money and energy. Our new partnership with Cree means we can offer an even more affordable LED light bulb to our customers, while offering the look and feel of an incandescent bulb."
The innovative bulb is illuminated by Cree LED Filament Tower™ Technology and provides a compact, optically balanced light source within a real glass bulb, to deliver consumers the warm light they love and want. Boasting a shape that looks like a traditional light bulb, Cree LED bulbs can be placed in most lighting fixtures in the home. The new Cree LED bulb is designed to last 25,000 hours or 25 times longer than typical incandescent light bulbs - reducing the need to replace bulbs for years to come.
With a retail price of $12.97 for the warm white 40-watt replacement, $15.97 for the 60-watt warm white replacement and $15.97 for the 60-watt day light, the energy-efficient Cree LED bulbs can pay for themselves in about a year.*
Cree LED bulbs are the ideal replacement for energy wasting 60-watt and 40-watt incandescent bulbs and compromise laden CFL lighting. The new LED bulbs turn on instantly and are free of the mercury that is found in CFL bulbs. Unlike many low-priced LED bulbs, Cree LED bulbs are easily dimmable with most standard incandescent dimmers.
The Cree LED light bulb (60-watt incandescent replacement) delivers 800 lumens and consumes only 9.5 watts and is available in warm white (2700K) and day light (5000K) color temperatures. The Cree LED light bulb (40-watt incandescent replacement) delivers 450 lumens and consumes only 6 watts and is available in 2700K color temperature.
All products are available exclusively at The Home Depot. Please visit www.creebulb.com to purchase the bulbs online today.
* Based on Cree LED bulb 60-watt replacements at 9.5 watt, $0.11 per kilowatt-hour, 25,000 hour lifetime and average usage of 6 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/ca.
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 could 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 that we the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk that actual savings from 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 our filings with the Securities and Exchange Commission (SEC), including our report on Form 10-K for the fiscal year ended June 24, 2012, and subsequent filings.
Cree® is a registered trademark, and Filament Tower™ and The Biggest Thing Since the Light Bulb™ are trademarks of Cree, Inc.
The Home Depot® is a registered trademark of Homer TLC, Inc.
SOURCE: Cree Inc.
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