Veteran Lighting/Electronics Industry Executive named Vu1 Board Chairman
Proven leader to help accelerate adoption of new, energy-efficient lighting technology
SEATTLE, July 29, 2008 – Vu1 Corporation (OTCBB: VUOC) announced today the appointment of Jeffrey P. Gannon as Chairman of the company’s Board of Directors. Gannon, a former CEO of Zenith Electronics and GE Lighting – Asia Pacific, has more than 30 years of executive level management experience including more than 20 years in the lighting and consumer electronics industries.
“With the cost of energy and environmental concerns, Vu1 is positioned to make an incredible impact in this global challenge,” said Gannon. “Vu1’s ground breaking technology will offer consumers an energy efficient lighting solution without compromising light quality, features or the environment. It’s an exciting time to join the board.”
For over 25 years Gannon held a variety of executive level positions with General Electric, including President and CEO of GE Lighting – Asia Pacific as well as other international divisions. He also served as CEO of Zenith where he completed a full operational and financial restructuring of the company and oversaw the company’s transition to become a wholly-owned subsidiary of LG Electronics, Inc.
“Jeff’s deep experience and success in building and running multi-billion dollar companies will help Vu1 commercialize our technology and take advantage of the huge international market opportunity for energy-efficient, environmentally-friendly lighting products,” said Vu1 President Richard Sellers.
Vu1 Corporation uniquely merged and adapted several existing, proven technologies never before utilized for “lighting” to produce a highly energy efficient, perfect light quality, mercury-free light bulb. Vu1’s Electron Stimulated Luminescence™ (ESL™) is an entirely new approach to lighting. The Vu1 bulb will be affordably priced and address key consumer concerns by including sought after features currently lacking in Compact Fluorescent Lamp (CFL) and Light Emitting Diode (LED) technologies such as:
- Mercury-free / Household Waste Disposable
- Instant On / Fully Dimmable
- Incandescent light quality
- Traditional look and shape
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 that will 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.
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 Form 10-Q for the quarter ended March 31, 2008).
