Solid State Lighting Revolution January 2010 Jovani Torres.
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Transcript of Solid State Lighting Revolution January 2010 Jovani Torres.
Solid State Lighting Revolution
January 2010Jovani Torres
Copyright © 2009 Cree, Inc. pg. 2
Disclosure: Forward-Looking Statements
This presentation includes forward-looking statements about Cree’s business outlook, future financial results, product markets, plans and objectives for future operations, and product development programs and goals. These statements are subject to risks and uncertainties, both known and unknown, that may cause actual results to differ materially, as discussed in our most recent annual and quarterly reports filed with the SEC.
Important factors that could cause actual results to differ materially include current uncertainty in global market conditions that could negatively affect product demand, collectability of receivables and other related matters; our ability to successfully develop new products; our ability to lower costs; increasing price competition; the complexity of our manufacturing processes and the risk of production delays and higher than expected costs; risks associated with the ramp-up of production for new and existing products; the rapid pace of technology development that could affect demand; and the difficulty of estimating future market demand for our products.
The forward-looking statements in this presentation were based on management’s analysis of information available at the time the presentation was prepared and on assumptions deemed reasonable by management. Our industry and business are constantly evolving, and Cree assumes no duty to update such forward-looking statements to reflect subsequent developments.
Copyright © 2009 Cree, Inc. pg. 3
Founded in 1987
•Public since 1993 (Nasdaq: CREE)•Headquartered in Durham, NC
Cree
Global Reach
•11 Major Locations•3,200 Employees•Fiscal 2009 Revenues $567M
Cree LED Businesses
LED Lighting • Lead the market &
accelerate adoption• Create demand/pull for
LED lighting
LED Components• Drive Revenue• Enable the market
with “lighting-class” LEDs
LED Chips• Technology to enable
components
Market Opportunity
LED Lighting
Materials
LED Components
LED Chips
pg. 4
Copyright © 2009 Cree, Inc. pg. 5
Cree Mission
Lead the LED Lighting Revolution and obsolete energy-inefficient
light bulbs
pg. 5
Copyright © 2009 Cree, Inc. pg. 6
It’s Happening Faster Than You May Think…
LED Lighting
Conventional Lighting
Global General Illumination Market**R
evenue
(Bill
ions)
** Source: Philips Lighting
Copyright © 2009 Cree, Inc. pg. 7
…A Brief History of Lighting
1879Edison Light
Bulb
U.S. 223,898
1901Fluorescent
Tube 1919Sodium
Vapor Lamp
1970sFirst Red
LED
~1990“High Brightness”
Red, Orange, Yellow, & Green LEDs
1995“High Brightness”Blue, Green LEDs
2000White LED Lamp
demonstratesIncandescent
Efficacy (17 lm/W)2005White LED Lamp
demonstratesFluorescent
Efficacy (70 lm/W)
2009Production White
LED LampExceeds 100 lm/W
• Current lighting technology is over 120 years old
• LEDs began as just indicators, but are now poised to become the most efficient light source ever created
Calculators and Indicators
Monochrome signs
Full Color Signs
Solid State Lighting
Copyright © 2009 Cree, Inc. pg. 8
Brief History of LEDs
• 1955 – RCA reports IR emission using GaAs• 1961 – TI gets patent for IR LED• 1962 – GE develops first visible LED• 1968 – Monsanto develops first commercially available LEDs for HP35 calculator• 1970’s - GaP-based red, green and yellow• 1980’s – AlGaAs/AlInGaP red and amber LEDs• 1990’s – InGaN LEDs and YaG phosphor• 2000’s – White LEDs for SSL
Copyright © 2009 Cree, Inc. pg. 9
Basic Advantages of LED Light
•LEDs are…very energy efficient >100LPW (near-term roadmap to >150LPW…)
•Are directional No wasted light, any pattern possible
•Have very long lifetime >50,000 hours to 70% Lumen Maintenance (L70)
•Are inherently rugged No filament to break
•Start instantly nanoseconds vs. > 10 min re-strike (HID)
•Are environmentally sound no Hg, Pb, heavy metals
•Are infinitely dimmable, controllable New lighting features, power savings
•Love cold temperatures No cold starting issues
Copyright © 2009 Cree, Inc. pg. 10
One teaspoon of mercury can
contaminate a 20 acre lake. .
Effects of Mercury on the Environment
* www.lightbulbrecycling.com
Forever.*
Each year, an estimated 600 million fluorescent lamps are disposed of in U.S. landfills amounting to 30,000
pounds of mercury waste.*
The mercury from one fluorescent bulb can pollute 6,000 gallons of
water beyond safe drinking levels.*
Copyright © 2009 Cree, Inc. pg. 11
LED Chip
• Determines raw brightness and efficacy
Phosphor system
• Determines color point and color point stability
Package
• Protects the chip and phosphor
• Helps with light and heat extraction
• Primary in determining LED lifetime
LED Technology
LED Chip
Package
Phosphor
LED Chip
Package
Phosphor
Copyright © 2009 Cree, Inc. pg. 12
Current LED Lighting Applications
•Lumens•LPW•Lumens/$
Copyright © 2009 Cree, Inc. pg. 13
Why LED Lighting?
The widespread use of LEDs over the next 10 years can:
• Save energy (Good)
• Save money
• Help protect the environment (Green)
LED lighting can reduce electricity needs for lighting by more than 60%
Copyright © 2009 Cree, Inc. pg. 14
Why LED Lighting?
LED lighting can reduce electricity needs for lighting by more than 60%
US Electricity Consumption
Lighting22%
Commercial 59%
Industrial 14%
Residential 27%
Copyright © 2009 Cree, Inc. pg. 15
0
50
100
150
200
2004 2006 2008 2010 2012 2014 2016 2018 2020
Year
Eff
icac
y (lm
/W)
Laboratory Projection - Cool White
Commercial Product Projection - Cool White
Commercial Product Projection - Warm White
Laboratory - Cool White
Commercial Product - Cool White
Commercial Product - Warm White
Maximum Efficacy - Warm White
Maximum Efficacy - Cool White
DOE Roadmap
US Department of Energy 2009 Multi-Year Plan for SSL
Cree cool white production
Cree warm white production
Copyright © 2009 Cree, Inc. pg. 16
Haitz’s Law
Copyright © 2009 Cree, Inc. pg. 17
How the Roadmap Really Works: Chip Improvement
• Major leaps forward on LF depends on major chip improvements
• Incremental chip improvements, phosphor efficiency, and learning curve historically improves 1-2 LF bins as well
Time
LF @
35
0m
A (
lum
ens)
Current Generation
Last Generation50
100
150Next Generation
Copyright © 2009 Cree, Inc. pg. 18
LED Performance Continues To Increase
0
20
40
60
80
100
120
140
160
180
200
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Light Source Efficiency Trends
CW
Lu
men
s/w
att
Incandescent
CFL
Linear Fluorescent
HID
LED
3 yrs
~2 yrs
? yrs186 LPW
161 LPW
131 LPW
R&D Announcement
XP-GXP-E
High Volume Production
XR-E
XR-E
pg. 18