Cree, Inc. Introduces 12 mW UV LEDs for Illumination Market
Brightest Nitride LED Available
Durham, NC. Cree, Inc. (Nasdaq: CREE) today introduced the world s first UV light emitting diode (LED) designed for use in the illumination market. This 12 mW, 405 nm ultraviolet (UV) silicon carbide (SiC) device is the brightest nitride-based LED available on the market today. The company is currently sampling product and targeting volume production beginning this fiscal quarter. Potential applications for the UV product include white light conversion LEDs for automotive, cellphone, illumination displays and other consumer applications. The company is targeting an average selling price comparable to the MegaBright(tm) blue LED device.
Chuck Swoboda, President and CEO stated, "This is the one of the most exciting breakthroughs in LED technology we ve ever achieved. Our development and production teams have performed an extraordinary accomplishment by quickly migrating this technology from an R&D project to volume production. We believe this new UV product will expand Cree s prospects in the illumination market and other applications, which may help drive new product revenue in the current fiscal year. Our expanded R&D efforts continue to yield product results at a rate beyond our expectations."
Dr. James Speck, Professor of Materials and a member of the Solid State Lighting Center at the University of California, Santa Barbara commented, "UV LEDs are a superior approach to making white light over alternative methods using blue LEDs with a yellow phosphor coating due to its better color rendering, manufacturability, color temperature and control. Cree s UV chip will play a critical role in developing new white light applications."
Solid state nitride-based LEDs provide distinct benefits over incandescent technology due to the longer lifetimes of LEDs and the increased energy efficiency. UV LEDs are able to convert the light to white by passing it through a phosphor or other polymer material. Cree s research and developmental work is focused on maximizing its SiC and GaN technology to produce extremely efficient solid state light sources. The company plans to continue to accelerate its R&D efforts to deliver additional technological improvements to extend its lead in LED chip technology for emerging white light applications.
The UV product is an offshoot of a collaborative R&D effort between Cree and the U.S. Department of Commerce National Institute of Standards and Technology Advanced Technology Program (NIST/ATP).
North Carolina-based Cree, Inc. develops and manufactures semiconductor materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. The company s products include blue, green and UV LEDs, RF power transistors for use in wireless infrastructure applications, SiC crystals used in the production of unique gemstones and SiC wafers sold for use in research and development. Cree has new product initiatives based on its experience in SiC and GaN-based semiconductors, including blue laser diodes for optical storage applications, high frequency microwave devices for radar and other communications systems, and power devices for power conditioning and switching. For more information on Cree, visit http://www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties 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 we may encounter delays or other difficulties in ramping up production of the new products; the risk the company will be unable to manufacture the products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technology and competing products that may impair demand; the risk of litigation asserting intellectual property claims; the potential lack of customer acceptance of the products; 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 25, 2000 and subsequent quarterly reports.
Contact: Fran Barsky Investor Relations Manager Cree, Inc. Tel: 919-313-5397 Fax: 919-313-5452 fran_barsky@cree.com
Fran BarskyInvestor Relations Manager Cree, Inc.
Tel: 919-313-5397
Fax: 919-313-5452
fran_barsky@cree.com
E-mail: fran_barsky@cree.com
Web site: http://www.cree.com
