History of Wolfspeed in Timeline

Wolfspeed, Inc. is an American company specializing in wide-bandgap semiconductors, particularly silicon carbide and gallium nitride. They develop and manufacture materials and devices for power and radio frequency applications. These products are used in various industries, including transportation, power supplies, power inverters, and wireless systems. Formerly known as Cree, Inc., Wolfspeed focuses on advanced semiconductor solutions for enhanced efficiency and performance.

1907: First Demonstration of LED Lighting

In 1907, the light source first demonstrated with an electrically charged diode of silicon carbide.

1983: Silicon Carbide Research

In 1983, the founders sought to leverage the properties of silicon carbide to enable semiconductors to operate at higher temperatures and power levels, researching its potential use in LED lighting.

July 1987: Cree Research Founded

In July 1987, Cree Research was founded in Durham, North Carolina, by Neal Hunter, Thomas Coleman, John Edmond, Eric Hunter, John Palmour, and Calvin Carter, most of whom were graduates of North Carolina State University.

1987: Company Founded to Produce SiC

In 1987, the research team founded Cree to commercially produce silicon carbide (SiC) for use in both semiconductors and lighting.

1989: First Blue LED Introduced

In 1989, Cree introduced the first blue LED, which enabled the development of large, full-color video screens and billboards.

1991: First Commercial Silicon Carbide Wafer Released

In 1991, Cree released the first commercial silicon carbide wafer.

1993: Company Goes Public

In 1993, Cree became a public company through an initial public offering.

1999: Company Name Change

In 1999, Cree Research changed its name to Cree, Inc.

August 2011: XLamp XT-E Royal Blue LED Announced

In August 2011, Cree announced the XLamp XT-E Royal Blue LED for use in remote phosphor lighting.

2011: Acquisition of Ruud Lighting

In 2011, Cree acquired Ruud Lighting for $525 million.

2013: Energy Star Rating for LED Bulbs

In 2013, Cree's first consumer products, two household LED bulbs, qualified for Energy Star rating by the United States Environmental Protection Agency.

July 2016: Infineon to Acquire Wolfspeed RF and Power Electronics Devices Unit

In July 2016, Infineon Technologies agreed to acquire Cree's Wolfspeed RF and power electronics devices unit for $850 million.

February 2017: Deal Termination Due to Regulatory Concerns

In February 2017, the deal for Infineon Technologies to acquire Cree's Wolfspeed RF and power electronics devices unit was terminated due to regulators’ national security concerns.

March 2018: Acquisition of Infineon Technologies AG's RF Power Business

In March 2018, Cree acquired the RF Power Business of Infineon Technologies AG for €345 million.

May 2019: Sale of Lighting Products Division

In May 2019, Cree sold its Lighting Products division, now branded as Cree Lighting, to Ideal Industries.

September 2019: $1 Billion Investment in Semiconductor Manufacturing Plant

In September 2019, Cree announced a $1 billion investment in a semiconductor manufacturing plant in Marcy, New York, to build the world’s largest silicon carbide fabrication facility, supported by a $500 million grant from New York State.

March 2021: Sale of LED Business to SMART Global Holdings

In March 2021, Cree sold its LED Business to SMART Global Holdings for up to $300 million.

October 2021: Name Change to Wolfspeed

In October 2021, Cree changed its name to Wolfspeed.

April 2022: Marcy, New York, Facility Opened

In April 2022, Wolfspeed's Marcy, New York, facility opened, with New York Governor Kathy Hochul and US Senator Chuck Schumer speaking at the event.

October 13, 2022: Electrocution Incident at Wolfspeed Research Triangle Park

On October 13, 2022, a facilities electrician was electrocuted at the Wolfspeed Research Triangle Park in Durham, North Carolina, leading to a state investigation and public concern.

November 2022: Death of Co-founder John Palmour

In November 2022, Wolfspeed announced the death of its co-founder and Chief Technology Officer, John Palmour.

February 2023: Announcement of First European Factory in Germany

In February 2023, Wolfspeed announced it would build its first European factory in Germany, on the site of a former coal plant in Ensdorf, Saarland, with ZF Friedrichshafen as a coinvestor, subsidized by the EU.

August 2023: Agreement to Acquire Wolfspeed's RF Business

In August 2023, it was announced that MACOM, a Lowell-headquartered semiconductor company, had entered into a definitive agreement to acquire Wolfspeed's RF business.

June 2024: Delay of $3 Billion Semiconductor Plant in Germany

In June 2024, Wolfspeed delayed its $3 billion semiconductor plant in Germany to mid-2025 due to the EU's challenges in boosting local chip production.

October 2024: Indefinite Hold of Semiconductor Plant Project

In October 2024, Wolfspeed announced an indefinite hold on the semiconductor plant project, citing low demand, leading ZF to cease participation.

October 2024: Biden Administration to Provide Funding for New Silicon Carbide Factory

In October 2024, the Biden Administration announced that it would provide Wolfspeed with up to $750 million in direct funding to support the company's new silicon carbide factory in North Carolina and its factory in Marcy, New York.