Cree Donates $4M to North Carolina Agricultural and Technical State University to Support Prominent STEM Programs

The gift will establish the Cree | Wolfspeed Endowed Scholars Program and marks the single largest donation in the university’s history.

East Greensboro, N.C. – Cree, Inc. (Nasdaq: CREE) and North Carolina Agricultural and Technical State University (N.C. A&T) today announced that Cree will donate a total of $4 million over the next five years as part of the global leader in silicon carbide technology’s ongoing, long-term commitment to enriching the communities it serves and calls home. The initiative will lead to the establishment of the Cree | Wolfspeed Endowed Scholars Program, which will provide scholarship and program support to students within the College of Engineering Helping Orient Minorities to Engineering (H.O.M.E.) Program and the College of Science and Technology Inspiring Minds Program.

This is the largest single gift to N.C. A&T in the university’s history. It makes a significant contribution to the Campaign for North Carolina A&T, which has a goal of raising  $100 million in private support for the university by year’s end. The campaign exceeded its initial goal of $85 million last year and set a new target and completion date of Dec. 31, 2020.

The Cree | Wolfspeed Endowed Scholars Program is designed to encourage and support students who choose to study in the College of Engineering or the College of Science and Technology. Recipients of this scholarship program must reside in North Carolina and have participated in the H.O.M.E. Program or the Inspiring Minds Program. Through the scholarship, students will have the opportunity to be considered for paid summer internships with Cree | Wolfspeed as well as full-time employment with the company after graduation.

“At Cree, our purpose extends beyond our products. We are focused on creating opportunities where everyone can excel, and educational programs such as this scholarship are a key part of that mission,” said Cree CEO Gregg Lowe. “We firmly believe in enabling students from all backgrounds and walks of life to have the same educational opportunities at the university level which will set them up for future success. As a company that is committed to creating an environment where inclusivity is real and active, establishing STEM-focused partnerships with historically black colleges and universities such as North Carolina A&T State University is incredibly important to us and we are excited about the program’s future.”

The commitment from Cree | Wolfspeed will help close the opportunity gap for historically underserved or marginalized communities while simultaneously supporting the need to educate and train tomorrow’s high-tech workforce.

“As the no. 1-ranked historically black university in America, we are committed to the success of every student and our delivery of high-quality, intellectually stimulating education that challenges them to achieve,” said N.C. A&T Chancellor Harold L. Martin, Sr. “This partnership with Cree will provide current and future students with more opportunities to excel and help lead the way to success both during and after their time at the university. This program will have an immeasurable impact on the lives of students for years to come, and for that, we are incredibly grateful and look forward to what lies ahead.”

About Cree, Inc:

Cree is an innovator of Wolfspeed^® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree’s Wolfspeed product portfolio includes silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging, inverters, power supplies, telecom and military and aerospace. Cree’s LED product portfolio includes blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications.

For additional product and Company information, please refer to www.cree.com. Cree^® and Wolfspeed^® are registered trademarks of Cree, Inc.

About North Carolina Agricultural and Technical State University:

For nearly 130 years, North Carolina A&T State University has believed in the power of its students to change the world. Today's 12,754 Aggies are some of the most high-achieving students ever to attend A&T. They excel in the classroom and in academic competition, whether coding like wizards in a national hackathon, writing a flawless business case contest entry or creating a self-driving car. As a land grant, doctoral research university with a national reputation in STEM education, North Carolina A&T State University is proud of the impact that its 70,000-plus alumni have had across America. From Silicon Valley to the halls of Congress to farms across North Carolina, Aggies innovate, discover, serve and lead.

To learn more about North Carolina A&T, please visit https://www.ncat.edu/index.php.