Cree Announces Issuance of Patent On Pendeo Epitaxy Process
Patent Licensed Exclusively to Cree, Inc.
Durham, NC. Cree, Inc., (Nasdaq: CREE) today announced the issuance of U.S. Patent No. 6,265,289 on July 24, 2001 entitled "Methods of Fabricating Gallium Nitride (GaN) semiconductor Layers by Lateral Growth from Sidewalls into Trenches, and Gallium Nitride Semiconductor Structures Fabricated Thereby." The patent, licensed exclusively to Cree, Inc. by North Carolina State University, covers process technology known as pendeoepitaxy, or "pendeo" for short, which refers to a process for growing gallium nitride semiconductor layers with low defect densities.
Chuck Swoboda, Cree s President and CEO stated, "The issuance of this patent significantly extends Cree s portfolio of technology critical in the development of high performance GaN-based devices. Growing low defect layers of GaN is essential to the realization of long-lifetime GaN-based laser diodes and other high performance devices. We believe this patent strengthens our intellectual property position immensely, since it covers use of the patented process on any substrate."
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, Schottky diodes for power conditioning and switching, 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.
Statements in this release that are not solely historical in nature may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those indicated, including the risks and uncertainties associated with new product initiatives; the risk that the patent may not provide meaningful exclusivity to the patented technology due to the substantial expense of patent litigation, the geographic limitations of the patent, or limitations of the claims of the patent or the terms of the agreement under which the patent is licensed, including prior license rights granted to the U.S. government to practice the patent for governmental purposes; 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 reports.
Contact: Fran Barsky Investor Relations Manager Cree, Inc. Tel: 919-313-5397 Fax: 919-313-5452
Fran BarskyInvestor Relations Manager
Cree, Inc.
Tel: 919-313-5397
Fax: 919-313-5452
Web site: http://www.cree.com
