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Cree Research Sign $3 Million Agreement with Japanese Power Company


Durham-based Cree Research, developer of semiconductor wafers, signed a $3-million agreement with Japanese power company Kansai Electric Power Co., the fourth largest power company in the world.

The contract is for Cree's technology for making semiconductor wafers out of silicon carbide. Those wafers can be more efficient than the regular silicon semiconductors used in transistors and computer chips because they can operate at higher temperatures and higher voltages.

The contract marks the first time Cree has received funding to develop silicon carbide products specifically for the power industry. Cree plans to spend about three years working with KEPCO to develop silicon carbide switches to help transmit large amounts of power in the facilities KEPCO runs. The silicon carbide switches may save KEPCO money because the company should not lose as much electricity in the transmission process as when standard switches are used.

Remote Source Lighting Plans Bond Offering Worth Over $1 Million




Durham-based Remote Source Lighting Inc., developer of the lighting products, plans to raise between $100 and $125 million in a high-yield bond offering.

The company would exchange the debt for bonds that can be bought and sold by the investing public. Having publicly held debt would require Remote Source to file quarterly and annual financial reports with the Securities and Exchange Commission.

Remote Source's products include giant video screens visible in bright sunlight and patented Light Pumps that send light from a single source through fiber-optic cable to illuminate signs or entire rooms. Light Pumps eliminate the need to change light bulbs in inconvenient or hazardous locations.

Remote Source has about 220 employees, 60 of which are in Durham.

Show off Your Company's Hot New Products in the Software '98 Demo Room--Applications Due July 24th




Information technology companies interested in "demoing" their products can apply now for a spot in the Software '98 Demo Room on October 16th 1998. Investors, corporate business development officers, media, potential employees and others are among the 400+ attendees who will test-drive your software products and learn more about your company. Space in the Demo Room is limited, and the 25 best products will be selected on a competitive basis. For more information or an application, contact Tawnya Louder-Reynolds.

Seeking Early Stage Financing? Apply Now For STREAK, CED's Venture Forum




Are you seeking early stage capital for your growing company? Apply now for STREAK, CED's venture forum that provides young potential high-growth companies with access to mentors, potential investors and increased visibility. Application deadline is July 25, 1998.

STREAK is designed for entrepreneurs with exciting ideas who will be seeking an early round of capital in the next six months and who can demonstrate equity investment potential. Prospective STREAK candidates must submit an application and executive summary to be considered for the program. Two companies will be selected each month to submit their business plan to a four person mentoring team consisting of investors, legal advisors, CPA's, experienced entrepreneurs and marketing experts. The team will study the business plan, and the entrepreneurs will give a "behind closed doors" presentation to the team. The team will then candidly critique the business plan and presentation, make recommendations, and will provide ongoing mentoring for the company. Two companies per quarter will be selected to present at a large quarterly event attended by potential investors and partners, financiers and others involved in the entrepreneurial funding process.

For more information, contact Suzanne Cantando at CED.