SEATTLE, Oct. 8 /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 received final approval for UL listing for the Company's R30 Electron Stimulated Luminescence™ (ESL™) energy-efficient reflector light bulbs.
Vu1's R30 ESL™ bulb is a direct replacement for the 65W incandescent flood bulb. It is virtually indistinguishable from the traditional incandescent lamp it replaces and, unlike CFLs, is mercury-free. The Company's ESL™ Lighting Technology uses accelerated electrons to stimulate phosphor to create light, making the surface of the bulb "glow," providing natural light quality, energy efficiency and a long bulb life of 10,000 hours.
"Vu1 achieving UL certification for its unique Electron Stimulated Luminescence™ R30 bulb is a major milestone for the company and a testament to the skill of Vu1's development, engineering and manufacturing team based in the Czech Republic along with the hard work and dedication of everyone at Vu1 and its many supporters," commented Philip G. Styles, President and Chief Executive Officer. "The rapidly growing number of consumers and businesses that want a clean, more energy-efficient and affordable light bulb will now no longer have to accept a compromise on functionality, light quality, aesthetics or price. Vu1's groundbreaking ESL technology can create a solution for all and has the potential to be further developed into all aspects of the lighting industry."
The primary initial market for Vu1's R30 light bulb is the commercial and residential General Illumination Market, where incandescent, halogen, compact fluorescent ("CFL") and Light Emitting Diode ("LED") lighting is used. In recent years, the industry has shifted to more energy efficient lighting solutions in an effort to conserve electricity. Additionally, U.S. and international legislation has moved to phase out use of traditional incandescent bulbs in favor of more energy-efficient solutions. The U.S. has passed legislation intended to phase out the use of the incandescent light bulb beginning in 2012, with a full phase out in 2014.
The majority of CFLs currently available have limited 'dimmability,' often flickering at low light levels and do not provide the same light quality as a traditional incandescent bulb. Furthermore, CFLs contain highly toxic mercury; according to the U.S. Environmental Protection Agency's guidelines, a CFL bulb breakage in the home would necessitate temporary evacuation and special toxic cleanup procedures. It also then presents an issue with waste contamination.
LEDs have the challenge of a very high temperature environment created by an enclosed space. LEDs need heavy heat dissipation 'sinks' designed into their bulb housing to address this problem, increasing the cost significantly. As such, LEDs capable of producing good quality light are exceptionally expensive. Vu1's ESL lighting technology offers a no compromise solution of clean, safe, long lifetime, energy-efficient lighting at a competitive price point.
"With most industrialized countries in the world having already introduced or announced a ban on the hugely popular, good light quality, and cheap but highly inefficient traditional Edisonian incandescent light bulb, and the limitations of current CFL and LED light bulbs, there's understandably significant industry interest in Vu1's ESL™ technology. We have already had discussions with a number of global companies regarding potential interest in licensing our technology.
"Lighting has a major role to play in the global drive towards creating a cleaner and more efficient world and I believe that Vu1's ESL™ technology offers a compelling solution combining efficiency, quality of light and a safe solution for the future. With UL certification now received, Vu1 can start preparing for commercial manufacturing and we expect to fulfill our first orders and record our first revenue by the end of the fourth quarter of 2010. We look forward to delivering on the very significant potential for Vu1's technology," concluded Mr. Styles.
According to recent industry reports, the U.S. market comprises 800 million recessed can lights with over 140 million bulbs sold per year. To accelerate the introduction and adoption of Vu1's products into the hardware/home improvement, and club/mass market retail channels, the Company has engaged Integrated Sales Solutions (ISS), LLC, a specialist sales and marketing consulting business co-founded by Bill Hamlin, a former The Home Depot (HD) senior executive and Vu1 Board member.
About Vu1 Corporation
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. More information about Vu1 is available at: www.Vu1.com. For product enquires please contact: Integrated Sales Solutions, 400 Galleria Parkway, Suite 1500, Atlanta, GA 30339 (678)385-5385.
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 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, 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