By Healthcare Facilities Today

DURHAM, N.C. — Cree, Inc. introduces the CXB High Bay LED luminaire, the first LED fixture designed to compete directly with the 67 million traditional high bay luminaires currently installed in North America.* Paying for itself in less than three years,** the Cree® CXB High Bay LED luminaire delivers 23,000 lumens and provides an unmatched combination of high performance and affordability, eliminating the need for energy-wasting fluorescent and HID high bay luminaires. The ideal replacement for warehouse, industrial, education and other commercial high bay applications, the new Cree CXB High Bay LED luminaire cuts energy consumption in half and nearly eliminates maintenance costs with industry leading price performance.

The CXB High Bay LED luminaire’s innovative design enables a low profile luminaire at half the weight of incumbent technologies. Offering versatile mounting options for a quick and easy one-for-one replacement of up to 400-watt HID fixtures and multi-lamp fluorescent high bay luminaires, the CXB High Bay luminaire simplifies installation and reduces labor costs during its 70,000-hour rated lifetime.

“Cree once again sets a new standard for LED lighting, delivering the most lumens per dollar at half the energy consumption and weight of existing HID luminaires,” said Greg Merritt, Cree vice president, lighting marketing. “The CXB High Bay LED luminaire provides the industry’s best LED replacement solution for high bay applications with a low total cost of ownership, all backed by our industry-leading 10-year limited warranty.”

The Cree CXB High Bay LED luminaire is sold through Cree lighting sales channels throughout the U.S. Please visit http://www.cree.com/lighting/CXBSeries to learn more.

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.

For additional product and company information, please refer to www.cree.com/lighting.

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 30, 2013, and subsequent filings.