Type Public Founded 1987 Revenue 1.65 billion USD | Industry Electronics Products Light-emitting diodes | |
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Traded as NASDAQ: CREE
S&P 400 Component Operating income Stock price CREE (NASDAQ) US$ 26.80 -0.08 (-0.30%)7 Mar, 4:00 PM GMT-5 - Disclaimer Headquarters Durham, North Carolina, United States CEO Charles M. Swoboda (Jun 2001–) Subsidiaries Cree LED Lighting Solutions Inc Profiles | ||
Cree, Inc. is an American worldwide manufacturer and marketer of lighting-class LEDs, lighting products and products for power and radio frequency (RF) applications. Most of its products are based on silicon carbide (SiC), a rare, naturally occurring mineral compound which early Cree researchers successfully synthesized in a laboratory. SiC enables higher performance in applications which require high endurance and in semiconductor devices that operate at high temperatures or high voltages, or both. With the establishment of a reliable source for high-quality SiC, the firm expanded into several market segments with products that provided significantly higher performance and efficiency. Cree's product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, and a portfolio of SiC-based and wide bandgap SiC-on-GaN (gallium nitride) power-switching and RF (radio frequency) devices.
Contents
These products enable applications that include general illumination, electronic signs and signals, industrial power supplies and inverters, and military, satellite and broadband telecommunications.
History
Cree was founded in July 1987 in Durham, North Carolina. Five of the six founders – Thomas Coleman, John Edmond, Eric Hunter, John Palmour and Calvin Carter – are graduates of North Carolina State University.
In 1983, the founders -– one a research assistant professor and the others student researchers – were seeking ways to leverage the properties of silicon carbide to enable semiconductors to operate at higher operating temperatures and power levels. They also knew silicon carbide could serve as the diode in light-emitting diode (LED) lighting, a light source first demonstrated in 1907 with an electrically-charged diode of SiC.
The research team devised a way to grow silicon crystals in the laboratory, and in 1987 founded a company, Cree Research, Inc., to produce SiC and exploit its usage commercially in both semiconductors and lighting. The founders raised money to establish office and laboratory facilities and entered a period of steady technological advancements.
In 1989, the company introduced the world's first blue LED, which enabled the development of large, full-color video screens and billboards.
In 1991, Cree released the world's first commercial silicon carbide wafer.
In 1993, Cree launched an initial public offering.
In 1999, the company name is changed from Cree Research to Cree, Inc.
In 2001, Cree had grown to about 1000 employees.
In 2011 Cree acquired Ruud Lighting, a national firm experienced in the use of LED for outdoor lighting. This expanded Cree sales channels and led to a new generation of lighting-class LED components.
In 2012 Cree announced the XLamp XT-E, which was claimed to deliver twice as much light for the same price as older LEDs.
In October 2013, Cree's first consumer products, two household LED bulbs qualified for Energy Star rating by the United States Environmental Protection Agency.
In 2014, Cree introduced a series of dimmable 40 and 60 watt LED bulbs specifically designed to match the classic A-19 shape; that year Cree established an exclusive relationship with home improvement chain Home Depot to distribute Cree LED bulbs.
In 2015, Cree acquired Arkansas Power Electronics International, Inc. (APEI) combining the resources of two established firms which make components for high-performance power modules. The collaboration led to multiple government contracts, including one for a SiC-based vehicle charger for hybrid electric vehicles for the U.S. Dept. of Energy's Advanced Research Projects Agency-Energy (ARPA-E).
In July 2016, German chip maker Infineon Technologies AG said it agreed to buy the North Carolina-based company Wolfspeed from Cree Inc. for $850 million in cash.
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Licensing
Cree allows other companies access to its proprietary or patented technology through a formal intellectual property licensing program, as part of their strategy to accelerate the adoption of LED and other products in new and developing markets. With thousands of granted patents in over twenty countries around the world, Cree's technologies encompass new materials systems, such as Group III nitrides and silicon carbide, compound semiconductor devices for LED lighting, wireless and power applications, and LED-based systems, such as LCD backlighting systems and general illumination systems. A license to Cree's patents can enable other companies to improve existing products, enter new markets or speed time-to-market of new products.