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Vu1 Completes Financing For Further Development Of Mercury-Free Light Bulb
Seattle WA (SPX) Dec 17, 2008 Vu1 has announced 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. Share This Article With Planet Earth
Related Links Vu1 Powering The World in the 21st Century at Energy-Daily.com
Livermore Lab And American Shale Oil Team To Study Carbon Sequestration
Newark NJ (SPX) Dec 17, 2008The Lawrence Livermore National Laboratory (LLNL) and American Shale Oil has announced that they have entered into a technical cooperation agreement to develop carbon sequestration technologies for in-ground shale-oil production processes. |
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