Cree LED Lamps Selected for Initial 650 Store Deployment at Walmart
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DURHAM, N.C.--(Business Wire)-- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has been selected to provide energy-efficient LED lighting to Walmart for new stores and renovations. Walmart plans to install Cree LRP-38 LED light bulbs in 650 stores during the first year, replacing ceramic metal halide in the produce and electronics departments. Cree`s industry-leading LR6 recessed LED downlights are also being used in new construction applications. The Cree LRP-38, a PAR38 style LED lamp, was selected for its energy-efficiency, long lifetime, controlled beam and high color-rendition. Designed to last 50,000 hours, the LRP-38 consumes 82 percent less energy than the 70-Watt ceramic metal halide bulbs it replaces and can last more than five years in a 24/7 operating environment. The unique design of the LRP-38 also reduces glare for customers, focusing attention on the merchandise and not the lighting. "Cree TrueWhite Technology delivers high quality light-making food and merchandise attractive, which we believe enhances the customer`s experience," said Neal Hunter, Cree LED Lighting president. "We`re able to do all this while reducing energy consumption and eliminating toxic mercury. The selection of Cree`s lamp followed a thorough analysis of performance, in-store evaluations and return on investment." About Cree 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.CreeLEDLighting.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 risk that Walmart`s plans may change resulting in lower product sales; the possibility that actual energy savings may vary from expectations; 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 is a registered trademark and TrueWhite Technology is a trademark of Cree, Inc. Media Contact: Cree, Inc. Corporate Communications: Michelle Murray, 919-313-5505 firstname.lastname@example.org Copyright Business Wire 2009