NEW YORK, Feb. 24, 2011 /PRNewswire/ -- Vu1 Corporation
(OTC Bulletin Board: VUOC), a developer and manufacturer of
mercury-free, energy-efficient general illumination lighting
technology, today announced that it has completed electronics
miniaturization in the second generation of its Electron Stimulated
Luminescence™ (ESL) R30 light bulb and will begin shipping the new
bulbs to all customers with outstanding orders from March 23, 2011.
The bulb, which is based on Vu1's unique ESL lighting technology
platform, uses accelerated electrons to stimulate phosphor and
create light, making the surface of the bulb glow and providing
natural light quality for up to 10,000 hours. The new bulb
will measure 5.37" in length, compared to the initial 5.75" of the
first generation bulb, and will fit in all US recessed can lighting
fixtures. The bulbs are fully dimmable, energy-efficient, non-toxic
and provide a light quality virtually indistinguishable from
traditional incandescent light bulbs.
"We are pleased that our development process has allowed us to
provide our customers with the next generation of Vu1's R30 light
bulb," commented Philip Styles,
President and Chief Executive Officer. "In the coming weeks
we plan to fulfill all of the pre-orders for our initial R30 bulb
with our next generation bulb. In the meantime, given the strong
consumer interest in Vu1's unique ESL lighting technology platform,
the Company plans to ship to all existing on-line customers one
complimentary first generation bulb within the next few days,
allowing customers to experience Vu1's ESL while their order is
being fulfilled."
"I am currently in The Czech
Republic meeting with our development and manufacturing
team, and I am very pleased with the pace of the team's progress,"
commented William B. Smith,
Chairman. "The proceeds Vu1 recently received from its private
placement have supported rapid transition to full automation of the
production process, ensuring Vu1's ESL bulbs can be produced more
efficiently and quickly and lowering costs."
The Company's next generation R30 light bulb will sell at the
MSRP of $19.95 (excluding tax,
shipping and handling), approximately half the price of LEDs
at the lowest end of the LED pricing range, and the site will
accept a minimum order quantity of eight bulbs.
About Vu1 Corporation
New York City-based Vu1
Corporation is dedicated to applying its technology to produce
energy efficient, environmentally friendly lighting solutions
worldwide. Vu1 has developed 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. Learn more about Vu1, visit the Company's
website at www.Vu1.com. For the latest news, find Vu1 on
Facebook and follow us on Twitter.
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
future funding required for our operations, the future
demonstration and commercial availability of our light bulb, timing
for bulb production and sales, manufacturing capability of our
facility, future interest of channel partners and distributors, our
strategic planning and business development plans, future
applications of the technology, and 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).
SOURCE Vu1 Corporation