February 4, 2014

Cree Reinvents Lighting Controls with the Push of One Button

SmartCast Technology Brings Simplicity and Affordability to Lighting Control Systems
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) introduces SmartCast™ Technology, the first self-programming wireless lighting-control system that reduces energy consumption by more than 70 percent*, at half the cost of traditional lighting controls. Intuitive and easy to use, luminaires enabled with Cree SmartCast Technology remove the initial and ongoing complexity associated with lighting controls, allowing customers to realize the full savings potential of lighting controls with benefits they’ve never had before.

SmartCast“Commercial lighting customers have resisted installing traditional lighting controls because of excess cost and complexity, and the majority of those who have installed controls stop using them as intended after the first year because they’re difficult to maintain,” said Norbert Hiller, executive vice president, lighting. “Cree SmartCast Technology eliminates these barriers to adoption and delivers the enormous benefit of significantly greater energy cost savings, allowing customers to finally realize the promise of lighting controls.”

Featuring Cree’s innovative OneButton™ Setup, luminaires enabled with SmartCast Technology create their own secure network, learn about their environment and form groups to maximize savings, all with the push of a single button. SmartCast Technology eliminates additional design time, wires and set-up time often associated with controls systems to provide the simplest controls system available.

“Cree exceeded our expectations of what a lighting-controls system could provide,” said John Gardiner, facilities manager, LORD Corporation. “Without any extra devices or wires needed, our maintenance team spent only minutes installing the Cree® CR22™ architectural LED troffers with SmartCast Technology throughout our corporate headquarters, saving us thousands of dollars on programming and setup. The savings on energy consumption and maintenance costs we expect with this installation will be a huge benefit to our business.”

Cree SmartCast Technology is currently available in CR Series LED troffersCS Series linear luminaires and KR Series downlights, as well as via a 0–10-volt interface for control of existing dimmable LED luminaires. These critical features not only save users energy and money but are compliant with emerging code requirements throughout the United States and Canada.

Cree SmartCast Technology is sold through Cree lighting sales channels throughout the United States and Canada. Please visit www.cree.com/smartcast to learn more.

*Compared to traditional fluorescent luminaires without SmartCast Technology.

About Cree
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.cree.com/lighting.

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 actual savings will vary from expectations; 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; 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 30, 2013, and subsequent filings.

Cree® is a registered trademark and SmartCast™, OneButton™ and CR22™ are trademarks of Cree, Inc.