XSP IP66 Delivers Improved Performance and Payback on New and Retrofit Installations DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) introduces XSP IP66 LED Street Luminaires that are optimized for European and other global environmental requirements. The advanced LED street luminaire provides metropolitan and other municipal areas a durable luminaire that protects critical electrical components from dust, water jets and other potentially damaging environmental factors. The Cree® XSP Street Luminaire is the first real alternative to high-pressure sodium street lights with better payback, better performance and better price. Compared to its outdated predecessor, the XSP IP66 uses nearly 50 percent less energy and is designed to last more than three times longer.
Beyond saving energy and reducing maintenance due to longer lifetime, Cree achieves better control over luminaire output with its NanoOptic® Precision Delivery Grid™ technology compared to a traditional street light. The new XSP IP66 features similar aesthetics as a traditional HPS street light while achieving unmatched target illumination. Cree's revolutionary LED and optical technology efficiently delivers light to the street, helping communities appear cleaner and safer.
"XSP IP66 is the ideal choice for metropolitan and other municipal areas looking to save money and reduce maintenance costs," said Massimo Targetti, managing director, Cree Europe S.r.l. "Designed to meet the demanding needs of global markets, the XSP IP66 represents the perfect combination of high-performance design and advanced LED technology. The optimized LED Street Luminaire design makes it easy for municipalities to upgrade from incumbent technologies for both retrofit and new construction applications."
The XSP IP66 boasts an industry-leading ten year warranty and is available in both single and double module configurations. The innovative luminaire also features state-of-the-art thermal management and electronics critical to high reliability operation in the most challenging applications. The result is a high performance luminaire that delivers superior value without compromising longevity or light quality at the cost of performance. The new luminaire delivers a range of lumen packages and distributions optimized for the most common street light applications.
The Cree XSP LED Street Luminaire is sold through Cree lighting sales channels.
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.
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 24, 2012, and subsequent filings.
