For Release:           Immediate – January 22, 2021
Contact:                  Claire Simmons, Director of Public Relations | (919) 407-7844 | csimmons@cree.com
                                 Steve Ference, Director of University Communications | (518) 429-7742 | sference@sunypoly.edu

Eleven Scholarships Part of Cree’s $3.5M Commitment to SUNY Poly STEM Education

UTICA and ALBANY, NY – SUNY Polytechnic Institute (SUNY Poly) joins Cree, Inc. (Nasdaq: CREE) in congratulating eleven SUNY Poly students who were announced as recipients of the newly established, merit-based “Cree | Wolfspeed Scholarship” program. The scholarships aim to ensure students who come from historically underserved or marginalized communities, as well as those with significant financial need, will have critical access to the educational opportunities that can pave the way toward successful careers in tomorrow’s high-tech workforce.

“We want to congratulate and welcome the inaugural recipients of the Cree | Wolfspeed Scholarship program,” said Cree | Wolfspeed CTO John Palmour. “Cree is committed to providing students in our communities with the opportunity to excel through STEM education initiatives, and it is an honor to help support these students as they continue their educational journeys connected to rewarding careers in STEM and as we work to train tomorrow’s high-tech workforce.”

“I am honored to congratulate each of these talented students on receiving the Cree | Wolfspeed Scholarship,” said SUNY Poly Acting President Dr. Tod Laursen. “This scholarship not only highlights Cree’s commitment to innovation-based education, but it also further facilitates these students’ academic careers as they pursue their educational dreams and the growing opportunities in the Mohawk Valley and beyond.”

“I am extremely grateful to Cree for providing funding for these incredibly meaningful scholarships to SUNY Poly students,” said SUNY Poly Foundation Chair Stephen Teti. “Together, we are proud to support student success and open the doors to career readiness and a lifetime of success.”

The commitment from Cree includes a $2,000,000 scholarship program over 10 years, with this cohort of awardees receiving a total of $46,000. Students receiving the scholarship must be interested in pursuing a position in the semiconductor industry upon graduation. They must be committed to working hard, willing to collaborate, have a passion for innovation, and reflect the Cree values of integrity and respect, ownership and accountability, and ingenuity and passion.

The students must also be enrolled in one of the following SUNY Poly academic programs: Computer Engineering Technology; Electrical & Computer Engineering; Electrical Engineering Technology; Mechanical Engineering; Mechanical Engineering Technology; Nanoscale Engineering; or Network & Computer Security.

As part of the scholarship, the recipients, first-year and sophomore students, may be offered paid internships and will be assigned a Cree | Wolfspeed mentor, in addition to being able to attend the annual SUNY Poly and Cree | Wolfspeed Scholarship Mixer.

This initiative is also complementary to the recent announcement of the Dr. John Edmond and Dr. John Palmour SUNY Polytechnic Institute Endowed Faculty Chairs. The five-year, $1,500,000 funding underpins the continued expansion of science, technology, engineering, and mathematics (STEM) opportunities for students at SUNY Poly.

As previously announced, Cree is developing the world's largest silicon carbide fabrication facility that will be 200mm capable in Marcy, New York—named the Mohawk Valley Fab—and has committed to creating more than 600 new jobs within eight years as well as providing internships for SUNY students as part of its presence. The efforts look to develop an advanced manufacturing-oriented workforce development initiative across the SUNY system to prepare a 21st century workforce for the long-term, high-quality employment and advancement opportunities that the new facility will present.

Recently, eight students from SUNY Poly took part in exciting internships with Cree. The company also donated $25,000 to the SUNY Poly Foundation in November 2019 to invest in and expand in SUNY Poly’s STEM programs.

####################

About Cree, Inc:
Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree’s Wolfspeed product portfolio includes silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging, inverters, power supplies, telecom and military and aerospace. Cree’s LED product portfolio includes blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications.

For additional product and Company information, please refer to www.cree.com. Cree® and Wolfspeed® are registered trademarks of Cree, Inc.

About SUNY Polytechnic Institute (SUNY Poly)
SUNY Poly is New York’s globally recognized, high-tech educational ecosystem. SUNY Poly offers undergraduate and graduate degrees in the emerging disciplines of nanoscience and nanoengineering, as well as cutting-edge nanobioscience programs at its Albany campus, and undergraduate and graduate degrees in technology, including engineering, cybersecurity, computer science, and the engineering technologies; professional studies, including business, communication, and nursing; and arts and sciences, including natural sciences, mathematics, humanities, and social sciences at its Utica campus; thriving athletic, recreational, and cultural programs, events, and activities complement the campus experience. As the world’s most advanced, university-driven research enterprise, SUNY Poly boasts billions of dollars in high-tech investments and hundreds of corporate partners since its inception. For information visit www.sunypoly.edu.