SOURCE: Vu1 Corporation

Vu1 Corporation

May 20, 2010 09:37 ET

Vu1 Corporation Announces Plans for 2010

Company Demonstrates Progress Towards Product Introduction in 2010

SEATTLE, WA--(Marketwire - May 20, 2010) -  Vu1 Corporation (OTCBB: VUOC), a provider of non-toxic, energy efficient general illumination light technology, today reported its product status and plans for the remainder of 2010.

"Driven by the hard work and commitment of everyone at Vu1, the company has overcome a number of challenging technical difficulties which delayed our anticipated initial product introduction in 2009. In spite of limited available funding, we have continued to refine our technology and have made significant progress in improving efficacy, reliability, performance and size-reduction while reducing our material costs," said R. Gale Sellers, Vu1 Chief Executive Officer. Vu1 has continued to be featured as a "breakthrough new technology to watch" in such publications and blogs as The New York Times, LEDs Magazine, Residential Lighting, Huffington Post, Popular Science, CNET, Xconomy, Gizmodo and others.

Vu1 is pleased to announce the following accomplishments -

Product Development -

  • Arrangements have been made with Underwriters Laboratories™ for the Vu1 ESL R-30 bulb to begin UL certification testing in June 2010.
  • Key components of our Electron Stimulated Luminescence (ESL™) technology have been refined including the electron source, integrated electronics and luminescent materials.
  • Electronics have been miniaturized to support the Vu1 R-30 bulb being a direct replacement for all existing R-30 fixtures and trim kits.
  • The company has increased its bulb's "Power Factor" (efficiency on the grid) to .99 which we believe exceeds all other energy efficient lighting technologies.
  • Vu1 has improved the bulb's efficacy and believes that with sufficient funding it is on target to deliver a 19W, 600 lumen, dimmable R-30 reflector bulb later this year. 
  • The company anticipates significant improvements in energy-efficiency and bulb life through ongoing research and development.

Sales and Marketing -

  • Over 200 independent lighting distributors have expressed interest through our web site to distribute ESL bulbs into a variety of channels including hospitality, municipal buildings, museums, and cruise ships. 
  • Keen interest in ESL lighting has been expressed by major U.S. utility consortiums on the East and West coasts culminating in several meetings and ongoing progress discussions.
  • Meetings have been held with several of the largest retailers, electrical distributors and eCommerce lighting resellers in the US and EU.

ESL Competitive Advantage -

  • ESL technology will provide the best combination of safety, non-toxicity, incandescent light quality, performance and affordability of any energy efficient lighting technology.
  • Vu1 ESL bulbs will be a screw-in retrofit solution for the incandescent bulbs they replace.
  • The characteristics of ESL technology will allow Vu1 products to most closely match incandescent light quality when compared spectrally to other energy efficient technologies.
  • ESL will swiftly reach the affordability factor CFL's now offer without having to compromise light quality, instant brightness, dimming or consumer safety.
  • In the recessed can market, LEDs suffer constraints due to the high heat environment. ESL will be a superior, cost effective solution for addressing the 800 million recessed can fixtures in the US.
  • Vu1 anticipates ESL bulbs will always be significantly less expensive than LED's while offering superior light quality.
  • Vu1 has begun testing ESL technology in other bulb shapes and sizes. The most interesting is in a linear tube configuration that may provide a fully dimmable, energy efficient replacement for the common fluorescent tube.

Key Milestones for 2010 -
With sufficient funding, the company anticipates further progress through the remainder of the year to the point of reaching commercialization of ESL technology in Q4 2010 in the following steps:

  • Product - Completion and Certification (June - August 2010)
  • Product - Channel Evaluation (August - October 2010)
  • Product - Introduction (October - December 2010)

Vu1 recently attended Light Fair 2010 and held meetings with distributors. We were very encouraged to find continuing support for our bulb. The distributors we spoke to reaffirm the need for a non-toxic, affordable, fully dimmable, incandescent light quality replacement for the soon to be banned incandescent light bulb is still needed and the current energy-efficient lighting solutions fall short of consumer desires.

About Vu1 Corporation

Vu1 Corporation (OTCBB: VUOC) is dedicated to applying its technology to produce energy efficient, environmentally-friendly lighting solutions worldwide. Vu1 is developing a new, energy efficient light bulb to provide the consumer market with the first affordable, non-toxic light bulb with features consumers are demanding and not receiving from existing products. More information about Vu1 is available at: www.Vu1.com and the Vu1 Blog at vu1corp.blogspot.com

This news release is not an offer to sell or the solicitation of an offer to buy the securities discussed herein. These securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from the registration requirements. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended. 

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", "scheduled" 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).

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