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