NEW YORK, Dec. 3, 2010 /PRNewswire/ -- Vu1 Corporation (OTC Bulletin Board: VUOC), a developer and manufacturer of mercury-free, energy-efficient, general illumination lighting technology, today announced that it now plans to ship the initial order for its R30 Electron Stimulated Luminescence™ (ESL) energy-efficient reflector light bulbs, later in December. The order, which was placed by a leading northwest electrical distributor, represents the commercialization of the Company's lighting technology. The Company anticipates recognizing revenue related to this shipment in the first quarter of 2011, following successful completion of performance tests by the customer.
"Clearly, this is a major milestone for Vu1, and we are delighted to be ending the year on such a positive note," commented Philip Styles, President and Chief Executive Officer. "Moreover, our prospects for 2011 are very encouraging; since Vu1 received UL certification, interest in our ESL bulb has increased dramatically, and our team at Integrated Sales Solutions (ISS) is currently responding to more than 100 potential sales and channel partner inquiries."
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.
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).