Guangdong’s LED industry market will exceed US$12.8billion by 2015

Guangdong Provincial Science and Technology Department news release on the 7th September estimated that Guangdong LED lighting industry market size in 2015 is expected to break through 80 billion yuan (US$12.8 billion), which account for 50% of the global share. By then, the Pearl River Delta region will become a world-class LED lighting industry gathering area.

Guangdong is the most important LED manufacturing bases and the largest application market in China, LED packaging accounts for about 70% of the country, and 50% of the world. Over 2600 enterprises devoted in the LED lighting with a few leading companies from Shenzhen and Dongguan

Overall, LED lighting industry gathers around the Pearl River Delta region with Shenzhen and Guangzhou as the pioneers. The industry chain is radiating rapidly from the Shenzhen-Guangzhou Spindule. By now, Shenzhen has become the largest LED manufacutring center with the largest production scale, and the complete supporting facilities of the LED lighting industry.

In 2008, Guangdong Province estimated that LED lighting and related industries output around 31.0 billion Yuan, with 133 million people employed. It is estimated that by 2015, LED lighting industry market size in Guangdong will exceed 80 billion yuan with a global market share of 50% in the LED lighting applications. The Pearl River Delta region will become a world-class LED lighting industry field.
Until now, Guangdong Province has a total of 37 high-tech enterprises, 5 provincial engineering technology research and development centers, 6 enterprise-based technology centers, which is the main force of technological innovation. Up to now, Guangdong Province, has won 233 patents in LED technology, accounting for 46.7% in mainland China. And those in the packaging and system applications occupy 74%.

Furthermore, LED street light demonstration project is introduced to help the promotion and reduce financial risks of enterprise. “User + business + bank” financial model are introduced to ensure the production, consumption and to maximize the benefits of financial constituents.

Foxconn Reported to Plan to Build a LED Factory in Jinan, China

Foxconn International Holdings Ltd., a company in which Hon Hai Precision Industry Co., Ltd. holds a controlling stake, will invest US$500 million to build a LED factory in Jinan, Shandong, according to Jinan government and a local newspaper.

Last month, Shandong Provincial Government signed an agreement with Foxconn for the company’s investment plan in the city, according to Jinan officials and Jinan Daily. And the LED factory was included in the plan. City officials said Foxconn executives had already examined the site of the factory after concluding the agreement, while had yet to decide when to begin the construction.

The factory will be located at a high-tech industrial park in the city, and is planned to be focused on LED lighting, LED packaging and LED outdoor signages, according to the report.

Investors meet SSL technologists in Chicago

The SSL industry supply chain and the investment community came together in Chicago on July 29 at the Solid State Lighting Investment Summit, run by the Association for Corporate Growth (ACG) Chicago.

Steve Weiland, Vice President of Greentech Investment Banking at ThinkEquity LLC, who was involved in organizing the Summit, described it as a “very successful event, with ~130 attendees representing a mix of investors, executives, and people in and out of the lighting industry from big and small companies alike across the country.”

Presentations included technology reviews, and a market overview from Bob Steele of Strategies Unlimited. The day also featured three panel sessions, comprising upstream Led technology providers, downstream SSL fixture manufacturers, and venture financing specialists.

Craig Miller, CEO of ACG Chicago and chair of the Summit, said, “We believe the relationships and financing contacts built at think-tanks like these are deep and powerful in building such rapidly evolving market niches. We hope this program has the same continuing success we’ve seen with the lithium-ion battery summit from 2008.”

According to Steve Weiland, one key takeaway from the event was that SSL is really at a critical inflection point. “The technology, from chips to components to integrated luminaries, has now advanced both in performance and cost, to the point enabling larger adoption in existing markets and even opening new markets that traditional lighting products could not serve,” he said.

Technology presentations

Bruce Pelton of the California Lighting Technology Center (CLTC) at UC Davis opened the day’s key presentations. “Pelton highlighted the need, using California as a prime example, for energy-efficient technologies, such as LED, to play a strong part in reducing demand on the grid and helping our country and world with its environmental imperatives,” said Steve Weiland.

Pelton detailed some of the industry-focused educational work at CLTC, such as the training of installers in cooperation with the International Brotherhood of Electrical Workers (IBEW), noting a proposal for utility rebates for quality product installed by “quality” installers. Pelton also noted the move toward the measurement and value of scotopic lighting, the human factor and current physiological experimentation. He also touched on intelligent control systems integrated with efficient lighting to further improve energy efficiency.

Next up was Chuck Berghoff, president & CEO of OptoElectronix. “He emphasized the critical issue of the ‘gap’ between the SSL community and the luminaire companies and end users, in terms of engineering, technology, culture and history; a gap that needs to be bridged for adoption to accelerate,” said Weiland.

Upstream, downstream

The “Downstream LED Opportunities and Challenges” panel, comprising representatives of fixture makers, provided an overview of the many technologies and products using SSL to address specific lighting markets in the $100 billion lighting industry. Mike Bauer, president & CEO of Nexxus Lighting, stressed the quality of light and the importance of determining the right application. Sean Callahan, president & CEO of iLight Technologies, stressed execution of IP and operational excellence, factors which make a company more valuable.

Daniel Chevalier, president of Canadian company Dellux Technologies, presented intelligent control of a luminaire as a solution to lifetime and also agreed that IP was strategically important. Jeff Quinlan, Director of Innovation at Acuity Brands Limited (ABL) discussed lighting controls; Acuity has recently acquired 2 other companies involved in control technology. Quinlan also gave an overview of the ABL LED Roadmap.

On the upstream side, Weiland noted that the “Advances in LED Technology” panel highlighted technologies that are supporting the advancement of the industry, critical to reducing cost per delivered lumen of SSL in order to drive broader adoption.

Mark Swoboda, CEO of Bridgelux, stressed the quality of light, while explaining how Bridgelux will be vertically integrated in its delivery of lighting solutions. After talking about “plug & play” solutions and “Hot Lumen Replacements,” Swoboda predicted a $10 led light bulb by 2010.

A number of presenters referred to Haitz Law, which maps and predicts trends in technological advancement in LEDs. The Law observes that cost drops ten fold and performance increases twenty fold every decade. Throughout the day, attendees heard that the industry was striving to achieve less than 2-year payback with respect to the capital cost of LED fixtures and luminaires.

Venture funding

A panel presentation entitled “Investment and Consolidation in Advanced Lighting” brought together a number of “Cleantech” investment firms who are continuing to invest in SSL. It was noted that the lighting industry is experiencing a revolutionary period of investment and consolidation, largely driven by LED and other efficient lighting technologies.

According to Cleantech.com, efficient lighting has received $420 million (LED receiving $354 million) of venture investment since 2007, accounting for 26% of all energy-efficiency venture investment.

In addition, rapid innovation has driven acquisition activity, often at premium valuation multiples, as large traditional lighting companies race to either deliver LED products, or face the risk of obsolescence.

According to Steve Weiland, this panel offered great insight into the importance that capital provides to industry advancement of new technologies such as LED. “It also gave a perspective into what key issues investors think impact the industry, as well as expected consolidation activity in the market, which will be important to industry growth, as the large incumbents will be able quickly accelerate acquired technology and products through their powerful channels,” he said.

Moderator Shez Bandukwala of ThinkEquity commented on the convoluted, complicated distribution channels in the industry. When referring to public companies, panelist Marc van den Berg of VantagePoint Venture Partners commented, “It is fortunate to go public and unfortunate to be public.” Panelists noted that IP is strategically important, and that there is a need for strong IP.

In terms of valuation, van den Berg highlighted market size, margins and profile, while Robert Walker of Sierra Ventures stressed capital required and percentage of ownership. Exit routes via acquisitions were discussed. Standards were also discussed, along with the effect on innovation. It was generally commented that there was still a lot for investors to learn.

Educating investors

Forums such as this offer an opportunity for the SSL technology and investment communities to meet, engage and learn more as to each other’s expectations. SSL manufacturers are eager to seek initial or additional investment, and the Cleantech investors explain their mandates and what they can offer while meeting and vetting potential opportunities.

I have been pleased to be a part of other similar — but smaller and more niche/regional — SSL investment forums, hosted by such firms as American Technology Research and Canaccord Adams, where the investment and technology constituents were brought together and where education for those in the financial industry was a key element. Educating this sector helps to further accelerate the industry and its technology, by allowing those responsible for investment and funding to make informed decisions.

Government regulations, industry standards and technological criteria play an important role in the development of the technology and the industry. CLTC’s Pelton noted the ongoing Energy Star controversy with two different sets of criteria, one from the US DOE and the other from the US EPA, stating that cohesion and common direction is necessary to avoid confusion. The situation remains unresolved, even though the US Congress has stated that it regards the DOE as the “agency of record” for SSL.

In the July/August 2008 issue of LEDs Magazine, Editor Tim Whitaker noted “confusion can cause disturbance and disruption to an already disruptive technology. This can create an apprehension to invest in what may be perceived to be a chaotic environment, causing the investment community to sit on the sidelines and wait it out. The consequence could be a slow-down in R&D investment, instead of accelerated growth.”

The education of the investment community has been discussed with Jim Brodrick, who runs the DOE’s SSL program, as being one of the key and targeted constituencies that warrant a Roundtable series of discussions. The DOE has hosted a number of Roundtables for specific groups, such as lighting designers and testing labs, all in the effort towards accelerating industry growth.

Concluding remarks

Craig Miller said that Chicago is one of the premier North American Green cities, right there with Toronto (greenTbiz facilitates the Toronto LED City program). “Bringing this knowledge base to our Midwestern leaders allows us to capture these substantial opportunities and maximize the benefits of Led lighting advances,” he said.

Miller also noted that ACG Chicago will be posting much of the printed summit information on their website. “We will also further educate and encourage involvement in the LED industry by the 13,000 ACG members globally through posting videotapes of the event within the ACG Essential Network.” ACG Chicago presents a number “deep dives” into the cleantech market providing a valuable resource for education and both the investment and green technology communities.

With respect to the attendees, Weiland commented “Events such as these are critical to advancing the industry, as they highlight technology and provide exposure beyond the LED / lighting industry itself. Specifically, this event provided a forum to bring together investors and LED executives, who may not otherwise have an opportunity to interact. In addition, the conference provided a great venue for Midwest investors and companies to interact with advanced LED companies and venture capitalists largely concentrated in California.”

Miller and Weiland, as well as the ACG Chicago, are all to be congratulated for hosting a successful, productive and informative event, and for their efforts directed to the continuum of accelerating the industry.

Founded in 1954, the ACG is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. Further information can be obtained by contacting Craig Miller), CEO or by calling 1.877.ACG-NETWORK (1.877.224.6389).

About the Author

Brian Owen, a contributing editor of LEDs Magazine, is also the Program Advisor to greenTbiz, which facilitates the LED City Toronto initiative. He is actively involved in the development and operation of energy conservation programs for government, municipalities and utilities and specializes in capacity building, commercialization and market transformation. greenTbiz, an ENERGY STAR, Lighting Facts and L Prize Partner, provides energy conservation and environmental awareness programs to the small business sector in Toronto, Canada.

Cree Record Revenue for the Q4 and 2009

Cree, Inc. yesterday reported its 4Q09 revenue and forecast better-than-expected first-quarter results. The company scored record revenue of $148.1 million for its fourth quarter of fiscal 2009, representing a 9% increase compared to revenue of $135.9 million reported for the fourth fiscal quarter last year and a 13% increase compared to the fiscal third quarter of 2009. And for fiscal year 2009, the company reported revenue of $567.3 million, which represents a 15% increase compared to revenue of $493.3 million for fiscal 2008.

For its first quarter of fiscal 2010 ending September 27, 2009, Cree targets revenue in a range of $160 million to $166 million.

“Our strong Q4 results were an outstanding finish to a very good year and reflect the success of our strategy to drive growth in LEDs and LED lighting applications,” stated Chuck Swoboda, Cree chairman and CEO. ―Entering fiscal 2010, our Q1 backlog is very strong as we see growing demand across our LED product lines. We are well positioned to benefit from the worldwide growth in LED lighting. As such, we continue to invest in the new products, channels and technical support needed to accelerate the LED lighting revolution.”

Cree’s shares grew by 4 percent hours after the announcement.

Study: LEDs Most Efficient Over Lifetime

While there’s no question that Led lamps use a fraction of the energy to produce the same amount of light compared with a standard incandescent bulb, several Bits readers have pointed out that that’s only half the story.

If the energy used to create and dispose of the LED lamp is more than that for a comparable standard bulb, then all of the proclaimed energy savings to produce light are for naught.

Until recently, no one knew if that was the case. In March, a preliminary study reported by Carnegie Mellon indicated that LED lamps were more energy efficient throughout their life, but the researchers pointed out that not every aspect of the production process was taken into account.

A new study released on Tuesday by Osram, the German Lighting giant, claims to confirm those findings.

Conducted by the Siemens Corporate Technology Centre for Eco Innovations (Siemens is the parent of Osram and Sylvania), the report examines the energy needed to create and power an LED lamp. Even the energy needed to ship a lamp from the factory in China to an installation in Europe was taken into account.

The study used a 25,000-hour LED lamp life as a constant, comparing the energy needed throughout its life to that used for 25 1,000-hour incandescents and 2.5 10,000-hour compact fluorescents.

Report: LED Price trends for Q2 2009

According to the industry research institute Ledinside, as demand for LED TV and LED NB expands, LED chips are running short of supply during the second quarter of this year, which has resulted in a more stable price of white LED compared to that of last year.

In the later half of this year, it needs to be observed whether the capacity of Korean upstream LED manufacturers could enter into mass production successfully and whether the capacity expansion of Taiwanese manufacturers could progress as expected. LEDinside estimates that the short supply of LED chips is likely to continue until the end of this year.

 Due to robust demand, high power LEDs with luminance above 80Lm/W are generally priced at USD1.5-USD2 in the second quarter, remaining flat or dropping slightly by around 5%. As for high-power LEDs with luminance between 60-70Lm/W, because of the abundant supply, are currently priced at around USD0.8-USD1.2, dropping by about 10% compared to last quarter.

LEDinside said that under strained supply, price of certain specifications of LED chips has increased. Recently, demand of LED for large-sized backlight and Lighting is stronger than in other fields, especially after the NB manufacturers increased the ratio of LED backlit products since the steep LED price drop last year. Moreover, due to Samsung’s inventory pull-in of large-sized LED TV, LED chip supply chain remains tight.  

 As to the lighting field, the number of LED packaging and lighting application manufacturers in mainland China continues to grow, which has led to high demand of LEDs for lighting since the first quarter of this year.

LEDinside: 2009 Q2 LED NB backlight penetration expanded to 42%, demand for NB LED expected to increase persistently

Additionally, the survey of LEDinside shows that NB vendors are rather aggressive in introducing LED backlight to their products. As the penetration of LED NB has substantially grown to 42% in 2Q09, and most new NB models in the latter half of the year will adopt LED as backlight, the demand of LED for NBs will continue to be boosted in 2H09.

In Notebook applications, the suppliers said that Toyoda Gosei and Nichia have the highest market shares currently. The mainstream specification of LED for Notebooks is between 2000 to 2300mcd, with the price ranging from USD0.07 to USD0.15. The price gap between Japanese products and Taiwanese ones is still substantial, and the Japanese manufacturers are not cutting prices by a large margin to compete for market share under the recent short supply of high luminance LED chips.

As for LED for Netbook backlight, the current mainstream specification is between 1800 to 2000mcd, and the price is around USD0.06-USD0.08, dropping about 5% in the second quarter. And the price difference between Taiwanese products and Japanese products is rather small.

As a whole, on the back of the short supply of LED chips, prices of white LED for NB and Netbooks either remain stable or drop slightly. On the other hand, the 10*23 mil blue LED chips which can be used in backlights and has been packaged into low power Led lighting bars by many manufacturers, has seen price increase of 5~10% by some lighting makers.

Demand for generic cell phone recovers, underpinning cell phone backlight LED price, Q2 price slid by 10%

In cell phone applications, LEDinside said that the regular cell phone generally uses 1400 to 1600 mcd LED, while the smart phone are gradually adopting 1700 to 1800 mcd LED. Though the screen size of smart phones has expanded, customers are still more concerned about the brightness and uniformity of light, therefore the screens smaller than 3.2inch are still using 4 to 6 LEDs.

As the brightness of cell phone backlight is mostly below 2000mcd, the short supply of LED chips has not cast much influence to the cell phone backlight market, and a slight drop in price was observed. However, as the growing demand for generic cell phones underpins the price trend of LED, the price slid by around 10% during the beginning of the second quarter.

 

 Q2 High-power LED price remained stable

As for high power LEDs, LEDinside pointed out that after the launch of OSRAM Opto’s 100Lm/W products in its Golden Dragon series, the price of high power LED has dropped from above USD2.0/W to around USD1.7/W.

However, as demand for LED TV rises in the second quarter, the upstream chip makers have shifted their capacity to the mid-power LED chips, which has squeezed the output of high-power LED chips. As a result, the price of high power LEDs has remained stable during the second quarter of this year under the strained supply of upstream chips.

SOURCE LEDinside

Aixtron lifts sales guidance on recovery of LED market

Equipment manufacturers such as Aixtron have seen a surge in orders due to demand from customers looking to manufacture LEDs for use in LCD TV backlights.
Aixtron, a German company that manufactures equipment used in LED chip production, has increased its 2009 revenue guidance significantly, thanks to a strong rebound in demand from LED manufacturing customers. The news was reported in an article on the Semiconductor Today website.
Total sales reached EUR56.7 million in the second quarter of 2009, and although this represented a 14% drop compared with the same period in 2008, the company’s order book is suddenly looking a lot healthier.

The company’s sales are dominated by metal-organic chemical vapour deposition (MOCVD) systems, which are used to deposit epitaxial material on wafers that are subsequently processed to make LED chips.

Like its rival Veeco Instruments, Aixtron has seen a surge in orders, particularly from customers looking to manufacture LEDs for use in LCD TV backlights. This could create a market for LED chips of around 26 billion units by 2012.

“We have seen a remarkable improvement in outlook,” remarked Paul Hyland, Aixtron’s CEO, adding that he believed the turnaround to be a sustainable one, due in part to the long-term commitment and financial strength of new entrants into the LED business.

Aixtron’s revenue expectations for the year have been increased to EUR230-350 million, from the previous value of EUR200-220 million.

Osram unveils life-cycle assessment of LED lamps

Consumption of materials and energy, as well as environment impact, have been assessed for different lamp types. Only 2% of total energy consumed by LED-based lamps is used in their production.
A study on the life-cycle assessment (LCA) of LED lamps by Osram shows the latest generation of lamps achieves a very high score for environmental friendliness. The study was carried out by OSRAM Opto Semiconductors in collaboration with experts at the Centre for Eco Innovations, Siemens Corporate Technology (Osram is a subsidiary of Siemens).

The study involved a close look at the entire life-cycle of different lamps types – how much energy and raw materials the lamp consumes in terms of production, use and disposal and the environmental impact involved in the process. The result was that today’s LED lamps achieve similar “LCA values” to compact fluorescent lights (CFLs) and are far superior to conventional incandescent lamps.

In order to evaluate lamps and their total consumption of energy and resources, it is not enough just to consider energy consumption while they are in use. The aim of Osram Opto Semiconductors’ LCA was to analyze the environmental impact of an LED lamp over its entire life, in comparison with a compact fluorescent lamp (CFL) and an incandescent lamp.

The relevant material and energy supplies were determined in detail for all the LED lamp’s components and production processes. This involved a detailed analysis of each individual production stage, for example the production of LED chips and lamp housings.

It also included factors such as transport; for example, the transportation of an LED lamp from its production site in China to its place of installation in Europe.

As well as the direct input of raw materials, the study looked at the energy input, materials and emissions associated with the retrieval of resources. The results allow for conclusions not only on resource consumption and primary energy input but also acidification, eutrophication (an increase in the concentration of chemical nutrients in an ecosystem), the greenhouse effect, ozone depletion and toxicity.

Comparing different lamp types

Osram Opto Semiconductors says it has shown that LED lamps are a genuine alternative to incandescent lamps, even when considering the cumulative energy input and environmental factors. Often these fundamentally different lamps were compared based on their wattage. Conventional lamps with filaments are way behind CFLs or LED-based lamps. A 40 Watt incandescent lamp, for example, can either be replaced by an 8W compact fluorescent light or, for some applications, by an 8W LED lamp, which means an energy saving of 80 percent.

In order to guarantee the comparability of results in the LCA, a lifetime of 25,000 hours was chosen as reference. The latest LED lamp generation (Parathom Classic A55 with Golden Dragon Plus LED) achieves precisely this rating. Therefore, 25 incandescent lamps (OSRAM Classic A 40W) with a lifetime of 1,000 hours and 2.5 fluorescent lamps (Dulux Superstar Classic A 8W) lasting 10,000 hours have to be used for a comparison.

Over 98% of energy used to produce light

The study shows that CFLs and LED-based lamps are similar in that over 98% of the energy used is consumed to generate light, while less than two percent is allocated to production. This has dismissed any concern that manufacturing of LED lamps might be very energy-intensive.

In contrast to the primary energy consumption of incandescent lamps of around 3,300kWh, LED lamps consume less than 700kWh.

The bottom line, says Osram, is that LED lamps are therefore definitely more efficient than conventional incandescent lamps.

Apart from this, the ratings that indicate the lamps’ effects on the environment are consistently better than those for incandescent lamps. As the efficiency of LED technology continues to increase, LED lamps will be capable of achieving even better LCA results in future.

Three independent experts are currently verifying the findings of the internal study. A summary of the study will be available in October at www.osram-os.com/life-cycle-assessment.

DOE selects 14 projects for SSL funding opps

The selections, with a value of $26M, are the 5th round in a series examining high-priority R&D to advance SSL for general illumination.

The National Energy Technology Laboratory, on behalf of the US Department of Energy (DOE), has selected 14 projects for solid-state Lighting (SSL) funding opportunities.

These projects were chosen in response to Round 5 of Core Technology and Product Development Funding Opportunity Announcements. These selections are anticipated to contribute to the goal of the SSL program to develop advanced solid-state lighting technologies that are much more energy efficient, longer lasting, and cost competitive.

These technologies will target a product system efficiency of 50 percent with lighting that accurately reproduces the sunlight spectrum.

All 14 new selections are covered under the Exceptional Circumstances Determination issued by DOE in June 2005. The selections are listed below (subject to negotiation):

7 Core Technology Research Selections
Expected to fill key technology gaps, provide enabling knowLedge or data, and represent a significant advancement in the SSL technology base. The total value of selections for Core Technology Research is $10.4 million.

Recipient: Eastman Kodak Company
Title: High Efficiency Colloidal Quantum Dot Phosphors

Recipient: Kaai, Inc.
Title: High Efficiency m-Plane LEDs on Low Defect Density Bulk GaN Substrates

Recipient: QD Vision, Inc.
Title: Quantum Dot Light Enhancement Substrate for OLED Solid-State Lighting
Team Members: Massachusetts Institute of Technology

Recipient: Rensselaer Polytechnic Institute
Title: High Efficacy Green LEDs by Polarization Controlled Metalorganic Vapor Phase Epitaxy
Team Members: Kyma Technologies

Recipient: University of Florida
Title: High Efficiency Organic Light Emitting Devices for Lighting
Team Members: Lehigh University

Recipient: University of Florida
Title: Top-Emitting White OLEDs with Ultrahigh Light Extraction Efficiency

Recipient: University of San Diego
Title: Phosphors for Near UV-Emitting LEDs for Efficacious Generation of White Light
Team Members: Osram Sylvania

7 Product Development Selections
Focused on the development or improvement of commercially viable materials, devices, or systems. Technical activities are focused on a targeted market application with fully defined price, efficacy, and other performance parameters necessary for success of the proposed product. The total value of Product Development selections is $15.6 million.

Recipient: Cree, Inc.
Title: SSL Luminaire with Novel Driver Architecture

Recipient: Dupont Displays, Inc.
Title: Solution-Processed Small-Molecule OLED Luminaire for Interior Illumination

Recipient: Eastman Kodak Company
Title: OLed lighting Panels

Recipient: Osram Sylvania Products, Inc.
Title: Highly Efficient Small Form Factor LED Retrofit Lamp

Recipient: Philips Lighting Electronics North America
Title: High Efficiency Driving Electronics for General Illumination LED Luminaires
Team Members: Philips Research

Recipient: Rohm and Haas Company
Title: High Refractive Index Encapsulants with High Thermal and Photochemical Stabilities for High-Brightness LED Applications

Recipient: Universal Display Corporation
Title: High Efficacy Integrated Undercabinet Phosphorescent Oled lighting Systems
Team Members: University of Michigan

SOURCE LEDs Magazine

President Obama’s attention on LED lighting revolution

Chairman and CEO of LED maker Cree, met President Obama at the White House with seven other CEOs to discuss the latest developments in energy-efficient technologies.
Swoboda CEO of Cree and the other CEOs, representing American companies “at the forefront of innovation”, were invited to meet with President Obama on July 2 to discuss American innovation in areas such as clean energy and the potential benefits to the U.S. economy.
In his remarks following the White House meeting, the President observed, “I just had a meeting with the CEOs of some of the most innovative energy companies in America to talk about growth and progress of a sector that represents a big piece of America’s economic future. It’s men and women like these who will help lead us out of this recession and into a better future.
“My job and our job as a government is to do whatever we can to unleash the great generative powers of the American economy by encouraging their efforts. And when you hear the innovation that’s taking place everything from LED lighting that can save a huge amount on energy costs to new concrete materials….that gets you excited about the future.”
“With President Obama’s support and the current momentum surrounding energy efficiency and sustainability, there are unprecedented opportunities for U.S. companies, like Cree, to deliver innovative technologies and products to address our current energy challenges,” said Swoboda. “Twenty-two percent of US electricity is used for lighting and the widespread deployment of LED lighting can reduce this by more than 60 percent.”

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