Cree, Inc. officially changes its name to Wolfspeed, Inc., marking a successful transition to a powerful global semiconductor company

Durham, NC, USA, October 8, 2021 – After four years of complete transformation, including divesting two-thirds of the business and repositioning the company’s overall core strategy, Wolfspeed, Inc. (NYSE: WOLF), a global leader in Silicon Carbide (SiC) technology and manufacturing, is officially announced. The company was formerly known as Cree, Inc. (Nasdaq: CREE). Following the official launch of the new name, the company will launch a series of multi-channel, integrated marketing campaigns.

Wolfspeed has been the brand name for the company’s SiC Materials and semiconductor Devices business unit for the past six years. Based on the accumulation and inheritance of more than 30 years of specialized technology, the name Wolfspeed conveys the excellent qualities like a wolf on the one hand – leadership, wisdom and perseverance; on the other hand, it also shows the typical characteristics of speed, which is reflected in the The company’s pace of innovation and operations is unrivaled in the industry.

Gregg Lowe, CEO of Wolfspeed, said: “Today marks a major transformational milestone for Wolfspeed, formally marking that we are now a pure and powerful global semiconductor company. The next generation of power semiconductors will be driven by SiC technology. performance, opening up new possibilities and bringing positive changes to the way we live. As a pioneer in this technology, we are excited about what the future holds.”

Gregg Lowe joined the company in September 2017 with the vision and determination to build a mission to enhance a culture of collaboration and a more productive future based on ingenuity. Now, with more than $1.3 billion in multi-year long-term material agreements serving multiple industries, a device pipeline totaling more than $15 billion, and a 30-fold increase in capacity from the original factory plan, Wolfspeed is advancing multiple industries Important transition from Si to SiC.

Wolfspeed technology plays an important role in a number of areas, including electrification of the powertrain to support the transition to electric vehicles, wireless communication infrastructure to unlock the potential of smart cities, and electricity storage to facilitate the wider adoption of renewable energy. The growing adoption of more energy-efficient solutions by both private and public sectors has accelerated the already strong demand for a better, more sustainable future through environmentally friendly technologies.

Gregg Lowe said: “The strategic improvement of organizational leadership and the execution of the expansion plan has resulted in a significant increase in production and increased focus on our company mission. This shows that we are turning a previously set vision into reality. More than 30 years of history have given us a signature competitive advantage in the SiC industry.”