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Vu1 Corporation Completes $5 Million Financing to Further Development of Energy-Efficient, Mercury-Free Light Bulb

^{Published on 2008-12-10 10:25:08 - Market Wire}
 

SEATTLE--([ BUSINESS WIRE ])--[ Vu1 Corporation ] (OTCBB: VUOC) announced today that between August 27 and November 15, 2008 it completed a round of funding with gross proceeds of $5 million. These proceeds enable the company to continue the late stage phases of development on its [ Electron Stimulated Luminescence ]™ (ESL™) technology, which will serve as the baseline for a new, full-featured, energy-efficient light bulb that does not contain mercury.

"In these times of unprecedented financial and economic market conditions I am very pleased that our investors were able to see the value of investing in innovation and the future of Vu1 technology," said Richard Herring, CEO of Vu1. "This funding provides a significant boost for our efforts to offer consumers energy-efficient lighting without the health risks associated with mercury."

Vu1's ESL™ technology is the cornerstone of the company's development of a family of next-generation energy-efficient light bulbs. Vu1 bulbs will offer the full features of incandescent lights, such as instant on, true dim-ability, high light quality and color, all in an attractive bulb design but without the use of mercury -- a toxic chemical which is present in today's current energy-efficient option, Compact Florescent Light Bulbs (CFLs).

"Consumers are becoming more aware of the serious health risks of mercury in CFLs and are seeking an alternative that is still energy-efficient," said Ron Davis, Chief Marketing Officer for Vu1. "We're working hard to give consumers the light they want, with the energy efficiency they demand, without asking them to sacrifice on price, quality or safety."

Growing evidence continues to show the health and environmental impacts associated with the mercury contained in CFLs. The U.S. Environmental Protection Agency acknowledges that each CFL contains a toxic amount of mercury and recommends a [ detailed cleanup process ] for when bulbs break in the home. Due to recent studies, some states are beginning to release guidelines for the use of these light bulbs. The [ Vermont Department of Health and Environmental Conservation ] is now suggesting that carpeting be removed after a break in rooms where small children and pregnant women are or might be present.

About Vu1 Corporation

[ Vu1 Corporation ] (OTCBB: VUOC) is dedicated to applying its new 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 the company's website: [ www.Vu1.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, the future commercial availability of our light bulb, our strategic planning and business development plans 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", "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, 2007 and our other periodic reports as filed from time to time).