Cree Turnkey LED Lighting Solutions Deliver Better Light Experience and 1.1M KWH Power Reduction to Thermo Fisher Scientific

DURHAM, N.C. -- December 8, 2015 — After years of searching for the right partner to help implement LED lighting across its Asheville, N.C. campus, Thermo Fisher Scientific, the world leader in serving science, chose Cree, Inc. (Nasdaq: CREE) to provide a turnkey solution to achieve the rigorous operational requirements and energy returns necessary to make the switch from traditional lighting possible. The industry-leading LED luminaires installed across the facility are already generating positive results, delivering an anticipated three-year payback with a 1.1M KWH power reduction and savings of up to 40 percent annually. 

Thermo Fisher's Center of Excellence for Laboratory Equipment in Asheville employs more than 400 people, and manufactures a variety of laboratory equipment including cold storage, separations and temperature control products used to prepare and store biological samples as well as other materials used in academic, clinical and life science research labs. Powered by Cree TrueWhite^® Technology, the newly installed LED lighting system delivers the industry's best color quality, creating more functional and better-lit environments for Thermo Fisher staff while significantly reducing the facility's operational expenses and energy output, compared to obsolete lighting technologies.

"We evaluated LED lighting for years but could not find the right partner to provide the payback necessary to help us make the switch"  said Scott Self, global energy director, Thermo Fisher. "Our customers want sustainable solutions, and projects like this allow us to reduce our energy consumption while achieving high quality productivity gains. Overcoming the financial hurdles of switching to LED within the required timeframe would not have been possible without the end-to-end approach and product innovation made available through Cree Solutions."

"Cree is dedicated to offering easy access to better quality light that helps customers save without settling," said Betty Noonan, Cree chief marketing officer. "This project demonstrates another layer of service Cree offers to help commercial building owners upgrade to better light experiences as part of our mission to achieve 100 percent LED adoption and eliminate energy inefficient lighting."

Cree Solutions designed and managed the project from start to finish, including engineering, installation and the assignment of utility rebates. More than 2,000 light fixtures were replaced with Cree's industry-leading LED luminaires in just two months across the site's administration, engineering, manufacturing, shipping and exterior spaces. 

Thermo Fisher's interior production, shipping and receiving areas implemented high bay and task LED lighting using Cree's CXB and LS Series, offering enhanced visibility and uniform light that is engineered for long life, to significantly reduce maintenance costs and increase energy savings. The exterior's parking and building facades benefitted from enhanced safety and visibility from Cree Edge^™ Series high-output area luminaires and new XSPW^™ wall packs. The engineering and executive offices were updated with ZR Series troffers, delivering up to 5,000 lumens of 90 CRI light.

Thermo Fisher Scientific expects to move forward with implementing Cree^® LED lighting upgrades at 10 more of its sites. 

To read the full case study and view photos of this installation, please visit https://www.creelighting.com/applications/case-studies/thermofisher/.

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, backlighting, electronic signs and signals, power suppliers and solar inverters.

Please refer to www.cree.com for additional product and company information.

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 and lifetimes will vary from expectations; the risk 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 our new 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, 2015, and subsequent filings.

Cree^® and Cree TrueWhite^®, and TrueWhite^® are registered trademarks, and Cree Edge^™ and XSPW^™ are trademarks of Cree, Inc.