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CREE has changed its name to Wolfspeed for its shift from LED to semiconductors

CREE has been changed into Wolfspeed for business transformation
After four year transformation,, CREE that was founded in 1987 and has been known for making LED chips announces that it will change its name to Wolfspeed, making its shift from LED lighting to semiconductors.

Wolfspeed is the name of the technology group focused on power supply and RF technology, nowadays,Wolfspeed is driving varied industries through a monumental shift from silicon to silicon carbide. Its technology will play a big role in the electrification of the drive train to support the shift to electric vehicles,wireless infrastructure to unlock the potential of smart cities and power storage to make wider application of renewable energy.

Recent action from both private and public entities requiring more energy-efficient solutions accelerates the high market demand for a better, more sustainable future with environmentally friendly technologies. Analysts has regarded Wolfspeed as a leader in providing support for the booming market of electric-powered vehicles. 

Now, with multi-year, long-term materials agreements are up to  more than $1.3 billion totally across several industries, a device pipeline that totals more than $15 billion, and an increased production capacity 30X larger than previous facility plans under the name of CREE. The new company name of Wolfspeed has become synonymous with Silicon Carbide leadership in the marketplace.
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