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Cree and Seoul Semiconductor Expand Relationship

Cree, Inc. has signed a five-year supply agreement with Seoul Semiconductor Co., Ltd., a strategic LED chip customer headquartered in Korea. Seoul Semiconductor has committed to purchase at least $40 million of LED products during the first five quarters of the agreement. Purchase commitments for subsequent periods are to be negotiated annually. The agreement extends through Cree’s fiscal year ending June 2011 and may be extended up to five additional years if certain sales conditions are met. Cree also announced that the parties have entered into a license agreement pursuant to which the parties have cross-licensed certain patent rights relating to white LED technologies and have agreed to cooperate in defending these rights. The license granted by Cree to Seoul Semiconductor includes Cree’s U.S. Patent No. 6,600,175 and is one of several Cree has granted to its strategic partners under the ‘175 patent. “We are pleased to announce these agreements with Seoul Semiconductor, which are the results of several years of strong cooperation between our two companies to win market share for white LEDs. Our success to date has been mostly focused on design wins in the Korean market and we look to further expand this success on a worldwide […]

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E85 Advocates Score Major Victory with IRS

The Internal Revenue Service (IRS) has recently published Form 8911 – Alternative Fuel Vehicle Refueling PropertyCredit – which provides the first ever federal income tax credit for the installation of E85 fueling systems. The infrastructure development provision was part of the 2005 Energy Policy Act and provides a 30% federal income tax credit, up to $30,000 per property, to install alternative fuel dispensing systems. Phil Lampert, Executive Director of the National Ethanol Vehicle Coalition stated, “The adoption of an infrastructure development credit in the Energy Bill has been the highest priority of the NEVC for the past four years. Additionally, we were concerned with the initial manner in which the IRS interrupted the law, but this final form clearly reflects the intent of the Congress that a vendor with multiple sites be able to utilize the credit at each property being upgraded to dispense E85.” The new federal income tax credit can also be used by units of government. This can be done by allowing the taxpaying installer to take the credit and indicate to the tax exempt the amount of the credit being provided to offset the total cost of the improvements. “We believe that this new incentive will […]

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E85 Advocates Score Major Victory with IRS

The Internal Revenue Service (IRS) has recently published Form 8911 – Alternative Fuel Vehicle Refueling PropertyCredit – which provides the first ever federal income tax credit for the installation of E85 fueling systems. The infrastructure development provision was part of the 2005 Energy Policy Act and provides a 30% federal income tax credit, up to $30,000 per property, to install alternative fuel dispensing systems. Phil Lampert, Executive Director of the National Ethanol Vehicle Coalition stated, “The adoption of an infrastructure development credit in the Energy Bill has been the highest priority of the NEVC for the past four years. Additionally, we were concerned with the initial manner in which the IRS interrupted the law, but this final form clearly reflects the intent of the Congress that a vendor with multiple sites be able to utilize the credit at each property being upgraded to dispense E85.” The new federal income tax credit can also be used by units of government. This can be done by allowing the taxpaying installer to take the credit and indicate to the tax exempt the amount of the credit being provided to offset the total cost of the improvements. “We believe that this new incentive will […]

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Organic Sales Continue to Grow at a Steady Pace

Preliminary findings from the Organic Trade Association’s (OTA’s) 2006 Manufacturer Survey released at OTA’s All Things OrganicTM Conference and Trade Show at McCormick Place show U.S. organic food sales totaled nearly $14 billion in 2005, representing 2.5 percent of all retail sales of food. Organic foods’ share of total food sales is up from 1.9 percent in 2003. According to survey results, sales of organic foods are expected to reach nearly $16 billion by the end of 2006. Meanwhile, non-food products, including personal care, flowers, pet food, fiber (linen and clothing), household cleaners, and nutritional supplements, grew by 32.5 percent overall to reach $744 million in sales during 2005. “These findings show there is continued strong growth for organic products, which means additional opportunities for farmers and more choices for consumers,” said Caren Wilcox, OTA’s executive director. Organic products are grown without the use of toxic and persistent pesticides and fertilizers, and must meet USDA regulations to use the organic label. Organic food categories experiencing the greatest growth during 2005 included meat (55.4 percent), condiments (24.2 percent), and dairy products (23.5 percent). The fastest-growing non-food categories during 2005 were organic flowers (50 percent), pet food (46 percent), and fiber (44 […]

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