Cree Announces Participation in a Series of Energy Efficiency Renovations

Cree, Inc. (Nasdaq:CREE), announces participation in a series of energy efficiency renovations across U.S. Embassies in Vienna, Rome, Berlin, Madrid and Lisbon. The installation of energy-efficient interior and exterior LED lighting by Cree is part of a visionary program spearheaded by the Alliance to Save Energy and The League of Green Embassies, a U.S. Department of State initiative to promote international cooperation in energy efficiency and clean technology. The range of LED lighting products being installed at each residence varies according to its unique needs. The energy savings for these installations as compared to the old lighting ranges from 45 percent to 76 percent, which can have significant economic impact due to the cost of electricity in these locations. Older, energy-wasting lighting is being replaced with energy-efficient LED lighting in security lighting, indoor lighting, area lighting, walkway lighting and parking lot and roadway lighting. "The goal of the League of Green Embassies is to make each participating embassy as energy efficient as possible and to use these embassies as platforms for showcasing U.S. energy innovation technologies and products,” said Bruce J. Oreck, U.S. Ambassador to Finland. “We want to encourage companies to create and showcase for a global market the latest technologies that reduce energy waste and lower costs.” The League of Green Embassies was established to advance the 2007 Presidential mandate to reduce greenhouse gas emissions in U.S. government buildings; to demonstrate the capabilities of U.S. products and technologies to the world market; and to increase the exports of U.S. products and services in line with the National Export Initiative. "Embassies are a great vehicle to showcase U.S. innovation and influence global commercial and industrial organizations to take action, consume less energy and advance energy efficiency,” said Greg Merritt, vice president corporate marketing, Cree. “Cree is excited to be part of the League’s initiative and to provide the embassies with Cree® high-performance, energy-efficient interior and exterior LED lighting.” The completed installations are expected to be unveiled throughout 2012. The embassies will host a VIP and press reception and exhibition to provide guests a firsthand look at recent upgrades in the embassy. Source: 4-traders.com