DURHAM, N.C. -- Three years ago, Raleigh became the first city in the world to join the Cree (Nasdaq: CREE) LED City® program, a now-international initiative to deploy and promote LED lighting. Raleigh now boasts more than 40 installations, ranging from accent and indoor lighting to street and parking lot lighting.
“The city of Raleigh now favors LED lighting for all renovations and new projects,” explained Raleigh Assistant Manager Daniel Howe. “Working with Cree and becoming the world’s first LED City has given Raleigh the opportunity to jump ahead in deploying energy-efficient, solid-state lighting technology.”
LED lighting can help cities save money from reduced energy consumption and reduced maintenance costs, as LED lights are designed to last longer and require less replacement than traditional lighting sources. Raleigh officials conservatively estimate the current use of LED lighting can save the city more than $200,000 annually.
“LED lighting is the best fiscal choice for our citizens in many cases,” said Raleigh Mayor Charles Meeker. “As Raleigh enjoys some of the lowest energy rates in the country, if the business case works here, it most likely works anywhere. The fact that this cutting-edge LED technology is being driven by Cree, a local company, makes it even more exciting.”
“The city of Raleigh has made a tremendous commitment to LED lighting during the past three years, and has become a global leader in the deployment and promotion of this technology,” said Chuck Swoboda, Cree chairman and CEO. “Other municipalities around the world often look to Raleigh to guide their own evaluation and installation of energy-efficient LED lighting—and that’s what I call leading the LED lighting revolution.”
About LED City
The LED City is an expanding community of government and industry parties working to evaluate deploy and promote LED lighting technology across the full range of municipal infrastructure to:
* Save energy
* Protect the environment
* Reduce maintenance costs
* Provide better light quality for improved visibility and safety
According to the U.S. Department of Energy, 22 percent of electricity used in the U.S. powers lighting. In a world with soaring energy prices based on the availability and control of fossil fuels, and with growing concern about sustainability of the environment, a revolution in lighting is long overdue. Participants include Torraca and Appechio, Italy; Toronto and Welland, Ontario; Tianjian and Huizhou, China, Gwangju, South Korea; and the United States cities Raleigh and Chapel Hill, N.C.; Ann Arbor, Mich.; Austin and Fairview, Texas; Anchorage, Ala., and India Wells, Calif. For more information about the Cree LED City program, visit www.ledcity.org.
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power 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 radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, electronic signs and signals, variable-speed motors, and wireless communications.
For additional product and company information, please refer to www.cree.com
To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.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 possibility that actual savings may 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 28, 2009, and subsequent filings.
Cree and LED City are registered trademarks of Cree, Inc.