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Cree receives funding from Energy Department

Cree Inc. was one of five companies to receive a total of $10 million from the U.S. Department of Energy (DOE) for research and development projects for LEDs. The DOE said the energy-efficient LED lighting systems manufacturer received $2.3 million from the federal government to develop a modular design for LED lights that will have the ability to link together multiple units in order to fit larger areas. 

Cree's design will use less raw material and reduce manufacturing costs while continuing to provide high-quality lighting and efficiency, according to the DOE. The lighting company plans to design and manufacture electrical, mechanical and optical systems components of an LED fixture to further reduce manufacturing costs.

"This partnership with industry to produce affordable, efficient lighting will save consumers money and create American jobs," said Energy Secretary Ernest Moniz. "It's another example of how energy efficiency is a win-win proposition for our economy."

The $10 million investment by the DOE will also be matched dollar for dollar by private sector funding. The use of LEDs has increased by 10-fold in the last two years, the DOE stated.

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