20 February 2014

Cree named to MIT Technology Review’s 2014 50 Smartest Companies list

LED chip, lamp and lighting maker Cree Inc of Durham, NC, USA has been identified as one of 2014’s 50 Smartest Companies in MIT Technology Review’s annual list of the world’s most innovative technology companies. Honorees are nominated by MIT Technology Review's editors, who look for companies that have demonstrated original and valuable technology over the last year, are bringing that technology to market at significant scale, and are clearly influencing their competitors. Companies on the list represent the disruptive innovations most likely to change people’s lives.

“This issue celebrates organizations at the forefront, displaying ‘disruptive innovation’ that will prove to surpass the competition, transform an industry and change our lives,” says publisher & editor in chief Jason Pontin.

Cree was selected because of its “transformational leadership in the lighting industry”. The firm says that it has launched several products during the past year that have contributed to the changing LED lighting landscape. The Cree LED Bulb is claimed to work as good as or better than traditional incandescent bulbs at a price that gives consumers a reason to switch to LEDs. At $99, the XSPR LED street light delivered the benefits of LED lighting at up-front cost parity to traditional street lights. Most recently, Cree introduced SmartCast Technology, the first self-programming wireless lighting-control system to bring the energy-saving benefits of lighting controls to the masses with the touch of one button, at half the cost of traditional lighting controls.

“As the industry’s only fully vertically integrated pure-play LED lighting company, this prestigious recognition validates Cree’s long-standing belief that a cultural commitment to continuous innovation results in the creation of breakthrough products that transform markets,” says David Elien, Cree’s VP, corporate marketing & business development.

Cree and the other honorees are being featured in the March/April edition of MIT Technology Review (published online on 18 February).

Tags: Cree LED

Visit: www.cree.com/lighting