Acquires additional Intellectual Property
SEATTLE--(BUSINESS WIRE)--Apr. 11, 2018--
Visualant, Inc. (OTCQB: VSUL) – a provider of identification,
authentication and diagnostic solutions, announced today that Phil
Bosua, currently a member of its Scientific Advisory Board and Chief
Product Officer, has been appointed Chief Executive Officer and will
join the Board of Directors of the Company.
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Phil Bosua, Visualant CEO (Photo: Business Wire)
Bosua is an internationally recognized inventor and innovator. His
expertise in lighting lead him to found LIFX (www.lifx.com)
where he created the world’s first commercial smart light bulb. The 2012
crowdsourcing launch of his smart light bulb raised $1.3 million in six
days and attracted $12 million in funding from Sequoia Capital (www.sequoiacap.com).
This groundbreaking invention earned him the prestigious Edison Gold
presented by Elon Musk to innovators who create products that have a
positive impact on the world. Bosua also founded RAAI, Inc., where he
continued his innovative creation of new uses of light.
In addition to his appointment as CEO, Visualant has entered into an
agreement to acquire RAAI, Inc., and its intellectual property, which
includes Bosua’s invention of the “100-year light bulb,” a standard
light bulb that lasts 100 years.
With the appointment of Bosua to the position of Chief Executive
Officer, Visualant Founder Ron Erickson will retain his position of
Chairman of the Board and continue his active involvement in the Company.
Visualant Founder and Chairman Ron Erickson said, “Phil has been a
tremendous addition to the Visualant team. Over the past nine months he
has had a significant impact on our technology and our product
development strategy. He brings energy, ideas and commitment to the
Company. His value and leadership became quickly apparent to me and to
our Board of Directors. Our shareholders and the broader community will
soon be witness to Phil’s creativity and product development acumen, as
he moves into the CEO role.”
Bosua said, “The time I have spent in the Visualant lab working on
advancing their technology has been some of the most scintillating
moments of my career. Ron Erickson and Visualant have provided support
to allow me and the lab team to explore new products and discover new
technologies. I’m excited by the technology platform we are creating,
knowing that it will benefit millions of people around the world and be
equally as good for our shareholders.”
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol
“VSUL.” The Visualant technology directs structured light or radio waves
through a substance or material to capture a unique molecular signature.
The Company refers to these signatures as ChromaID™ and Bio-RFID™.
ChromaID and Bio-RFID are used to identify, detect, or diagnose
substance markers or biomarkers that may be invisible to the human eye.
ChromaID and Bio-RFID scanner modules can be integrated into a variety
of mobile or bench-top form factors. This patented and patent pending,
award-winning technology makes it possible to effectively conduct
analyses that could only previously be performed by invasive and/or
large and expensive lab-based tests. For more information on Visualant,
visit the company’s website at www.visualant.net.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180411005390/en/
Source: Visualant, Inc.
Mike Grabham, 206-354-8751