SOURCE: Vu1 Corporation

Vu1 Corporation

July 07, 2010 10:00 ET

Vu1 Announces New Executive Management and Board Roles; VP Manufacturing Philip Styles Promoted to Chief Operating Officer; Director Duncan Troy Assumes Chairman Role

New Roles Reflect Company's Transition From Development Phase to Commercial Production and Sales and Marketing Focus

SEATTLE, WA--(Marketwire - July 7, 2010) -  Vu1 Corporation (OTCBB: VUOC), a developer and manufacturer of mercury-free, energy-efficient, general illumination lighting technology, today announced that Philip G. Styles, the Company's Vice President of Manufacturing and a Director of the Company's manufacturing subsidiary, Sendio s.r.o., has been promoted to the newly created position of Chief Operating Officer, effective immediately. Mr. Styles has also been elected to the Company's Board of Directors.

Mr. Styles has been with Vu1 since September 2007 and his role at Sendio, the Company's wholly-owned manufacturing division in the Czech Republic, has been instrumental in bringing Vu1's technology from prototype to a product ready for transition to full-scale manufacturing. Prior to Vu1, he worked for Sony Corporation for 14 years in various technical and managerial positions in production engineering. Mr. Styles has also held several other senior management positions including, most recently, leading a joint venture between LG Electronics and Royal Philips Electronics in the Czech Republic.

Additionally, Duncan Troy, one of the Company's Directors, has been appointed to the position of Non-Executive Chairman. Mr. Troy was elected to the board of Vu1 in February 2004 and previously served as Non-Executive Chairman from May 2004 to July 2008. He is also the founder and a director of SMS LOTTOME LIMITED, a UK cell phone lottery and gaming company and a director of the board of Private Equity III Limited, a UK investment vehicle.

"As evidenced by the recent preliminary order for Vu1's R30 Electron Stimulated Luminescence™ flood energy-efficient light bulbs, Vu1 is one step closer to realizing the Company's very significant potential," commented Duncan Troy, Vu1's Chairman. "Phil's promotion reflects both his contributions to date and his value to Vu1 in the future, given our focus now on building out the broader operational structure and team needed to support the Company's growth. As we move from pure technology development to full-scale commercial manufacturing and execution of a multi-channel sales and marketing strategy, I am delighted to be assuming the role of Non-Executive Chairman at this critical stage in the Company's evolution. I congratulate Phil on his well-deserved promotion and I look forward to working closely with him, the rest of the executive management team and the Board of Directors to help ensure we successfully capitalize on the opportunities before Vu1."

Business Update Conference Call

As previously announced, Vu1 has scheduled a Business Update conference call, on which Mr. Sellers will be joined by Philip Styles, Chief Operating Officer, and Chairman Duncan Troy. The conference call will take place on Wednesday, July 14, 2010 at 5:00 PM EDT (2:00 PM PDT/10:00 PM BST/11:00 PM CEST). 

To listen to the Business Update conference call, participants in the US and Canada need to dial 800-374-2493 and international participants need to dial +1 706-634-7642. All participants need to provide the following access code: 86587723. A replay of the call will be available beginning two hours after the conclusion of the call until midnight on Friday, July 16, 2010. To access the replay, in the US and Canada, dial 800-642-1687 and for international participants dial +1-706-645-9291. Participants will need to use the same access as above: 86587723. On the morning of Thursday, July 15th, a digital recording of the conference call can be accessed on the Company's website at www.Vu1.com.

About Vu1 Corporation

Vu1 Corporation is dedicated to applying its technology to produce energy efficient, environmentally-friendly lighting solutions worldwide. Vu1's ESL™ Technology creates the same light quality as an incandescent bulb but is more energy efficient. There is no use of the neurotoxin Mercury (Hg) in the lighting process and the ESL™ Technology fits neatly into classic light bulb shapes similar to those familiar to consumers everywhere. This eliminates the need to bend the technology into an unusual, twisted spiral shape (CFL) or have costly and heavy heat dissipation designed into the bulb housing (LED). To learn more about Vu1's technology, please view the video link http://Vu1corporation.com/ESLupdate/ or go to: www.Vu1.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements including, but not limited to, our ability to obtain the necessary funding required for our operations, the future demonstration and commercial availability of our light bulb, timing for submission of our light bulb to certification and certification results, timing for bulb production, manufacturing capability of our facility, future interest of channel partners and distributors, our strategic planning and business development plans, future applications of the technology, the viability, pricing and acceptance of our products in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-K for the year ended December 31, 2009 and our other periodic reports as filed from time to time).

For product enquires please contact info@Vu1.com.

Contact Information

  • Contact Capital C Partners:
    Ian Bailey
    +1-212-359-9587
    Michael Polyviou
    +1-913-789-9978