Article: Cree Research Announces Contract Awards Worth $3.9 Million

DURHAM, N.C., Oct. 2 /PRNewswire/ -- Cree Research, Inc. (Nasdaq: CREE) today announced the award of three contracts that will provide combined development funding of $3.9 million. The first of these awards builds on the Company's expertise in using silicon carbide (SiC) to develop world-class high - power and high-frequency transistors. The contract provides $2.4 million in funding over two-and-a-half years and requires the Company to contribute an additional $400,000 to the effort. The second contract, also for the development of high power transistors, is a $1,000,000 award to be funded over 16 months. The third one-year contract focuses on the development of ...

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