Forget traditional fluorescent lights and LEDs, the common alternatives to the hot and energy draining incandescent light bulb. Now there’s a new kid on the block. It’s called Electron Stimulated LuminescenceTM (ESL), and it has all the advantages of traditional lighting technologies with none of the drawbacks.

ESL works by throwing accelerated electrons at a phosphor that coats the bulb, causing the phosphor to glow with natural looking light in a process called cathodoluminescence, similar to a cathode ray tube. A standard fluorescent light excites mercury vapor to produce ultraviolet radiation that then causes a phosphor to fluoresce, but the fixtures are more complex and costly to produce, and require toxic mercury vapor. ESL bulbs have a smaller carbon footprint than either fluorescent or LED lights. ESL also produces a more natural light spectrum than fluorescent bulbs or LEDs, similar to an incandescent light but 70% more efficiently. In addition, ESL bulbs light instantly, and are even dimmable.

In October 2010, Vu1 developed its first light bulb that received UL certification, the R30 ESL bulb, a direct replacement for the 65W incandescent flood bulb which is virtually indistinguishable from the traditional lamp it replaces. The company is now currently developing a variety of the new mercury-free light bulbs, and plans to introduce the classic A-type lamp for U.S. and European consumers, as well as the R40 for the U.S. commercial market and the R25 in Europe.

Today Vu1 announced that it has entered into definitive agreements with institutional investors to purchase $2.2 million of securities in a private placement transaction, providing proceeds to allow the company to scale up its manufacturing capabilities to meet the anticipated growth in demand. The offering is expected to be consummated by February 8, 2011.

For additional information on Vu1 Corporation, visit the company’s website at www.Vu1.com