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Former Managing Director of the Russell 2000 Index Family Named Vu1?s Chief Executive Officer

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  Published in House and Home on Wednesday, January 14th 2009 at 6:58 GMT, Last Modified on 2009-01-14 06:59:47 by Market Wire
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SEATTLE--([ BUSINESS WIRE ])--[ Vu1 Corporation ] (OTCBB:VUOC) announced today the appointment of David T. Grieger as the company's Chief Executive Officer (CEO). Grieger becomes the company's CEO after more than 20 years of management and executive experience with Russell Investments. Grieger's appointment as CEO provides the company a proven, visionary leader - a critical step for Vu1 to bring its mercury-free, energy-efficient lighting technology to market in 2009.

"Vu1 is on the verge of bringing an entirely new option in energy-efficient lighting to consumers who are now, more than ever, concerned about saving energy and money, but are not willing to compromise on environmental or household safety," said Grieger. "I felt there was no better time to focus my efforts on this revolutionary technology and help take the company to the next level."

Throughout Grieger's career with Russell Investments he played a key roll in the firm's development and expansion efforts, including the establishment of international markets in Australia, Europe, and Canada, product development and marketing. His most recent role was as the Managing Director of the market-leading Russell family of indexes and Chief Marketing Officer for Russell Investments. Grieger also assisted in defining and managing overall company direction by holding key executive positions such as Chair of Russell's Global Marketing Council. He was also a member of the firm's Global Product Review and executive management committees.

"David's past success in executive management, product development, and international expansion will allow Vu1 to take the final steps needed to bring our technology to consumers hungry for an environmentally friendly, energy-efficient and cost-competitive solution," said Jeff Gannon, Chairman of Vu1's Board of Directors.

Grieger's appointment as CEO also allows Vu1's lead scientist, and former CEO, Richard Herring to move into the role of Chief Technology Officer (CTO). As CTO, Herring will focus his energies on the further development, testing and certification of Vu1's lighting technology. Deeply experienced in leading and growing technology companies, Herring has served in a variety of management positions throughout his career, including CEO of Spectral Solutions, Inc., a company focused on cellular telephone enhancement products, as well as CEO of Digital Globe, a company focused on satellite imaging technology. Herring also spent more than 25 years in management at Ball Aerospace, including serving as the President of the company's Space Systems Division.

Vu1's [ Electron Stimulated Luminescence ]™ (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).

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).