Britain and Liverpool have invested huge sums of money in changing LED street lights, and Cree is in favor.

13 foreign media reported that the British city of Liverpool has decided to spend 7 million pounds in the next 2 years to replace the existing orange light street light to a brighter LED energy-saving lamp. Joe Anderson, mayor of Liverpool, said that LED lighting can improve the brightness of lighting, make streets safer and reduce the annual carbon dioxide emissions by 1400 tons. Once the LED lights are fully reinstalled, the maintenance cost will be reduced by 2 million 700 thousand pounds in 5 years.

Liverpool will start the first stage of the replacement operation in June, and 12000 new street lamps will be equipped with new LED lights. Liverpool has a total of 57000 street lamps, which cost up to 2 million 600 thousand pounds a year.

LED upstream grain manufacturing Dachang, Philadelphia Semiconductor Index Stocks CREE, Inc. 13 rose 5.01%, closed 49.66 U.S. dollars, the highest since April 24th closing high. So far this year, Cree has fallen by 20.57%, far less than the 17.28% increase in the Philadelphia index.

Cree said last month that it will spend $17 million 660 thousand on the construction of a new production plant near its headquarters this summer. A Cree spokesman pointed out that once the construction was started, the estimate would be completed within a year. Cree announced in May 8th that the company bought 2 million 100 thousand shares of its own common stock at an average price of 47.11 US dollars and spent a total of $99 million 600 thousand. According to the latest plan adopted by the board of directors, during the period from June 20, 2013 to June 28, 2015, Cree plans to buy back its own common stock in the amount of US $300 million.

According to detroitnews.com, US energy minister Ernest Moniz praised the Detroit street lighting education and training program proposed by the public lighting Bureau (PLA) in May 22nd at a press conference. The mayor of Detroit Mike Duggan also expressed congratulations to Cree, Inc., Leotek Electronics USA Corp., affiliated Detroit group and the Detroit Walker-Miller Energy Service Companies.

In January this year, PLA decided to install more than 50 thousand street lamps in Detroit in the next 2 years to fully install energy-saving LED lamps. PLA pointed out that this year, besides the cost of $1 million 500 thousand in Detroit, the three companies that have obtained street lighting orders also promise to provide education and training for local students.

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