Former Cree Chairman Neal Hunter Announces New Venture

Today Neal Hunter announced he has co-founded, with a group of former Cree scientists and engineers, a company to develop LED-based lighting fixtures. The company's principle officers are Gerry Negley, Antony van de Ven, and Tom Coleman. Hunter will serve as the
company's Chairman.
"I am excited about the opportunity to team with such a talented group of inventors to bring a truly revolutionary product to the market," Hunter stated. "We believe the time for LED lighting for general use has arrived. Our goal is to integrate Cree's chip and lamp products into finished fixture assemblies targeting high-volume consumer and industrial applications.
Industry sources estimate the domestic market for lamps, lighting fixtures and lighting controls is about $12 billion annually and $40 billion globally," Hunter continued.
The team's background includes Gerry Negley's expertise in LED chip and packaging technology. Negley has compiled nine issued patents for Cree along with numerous other pending applications and filings. Antony van de Ven was the technologist behind Cree's Real Color Display before forming Lighthouse Technologies Ltd. in Hong Kong. van de Ven adds a wealth of expertise to color management and LED systems. Tom Coleman, a co-founder of Cree, contributes with a creative background of equipment, systems and LED
electronics.
The world faces challenges in meeting the increasing task of energy production. Deployment of LED lighting technology would radically reduce the world's power demands. Today, about 22 percent of the nation's energy is used for lighting. When LED-based lighting is fully employed, a net saving of 30 power plants or $17 billion could be realized annually.
Traditional lighting companies have been slow to adopt LED technology in mainstream applications. The lifetime of LEDs would virtually eliminate the need for replacement bulbs, and the replacement bulb market represents a significant portion of profits.
The company, temporarily named LED Lighting Fixtures Inc., plans to open offices in North Carolina and Hong Kong and is currently being funded by the founders. Hunter expects additional funding from private investors on an as-needed basis.

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