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UbuntuJeOS, (pronounced as "juice"), is the newest official subproject of ubuntu, it is described as "an efficient variant configured specifically for virtual appliances".
Its first release was ubuntu JeOS 7.10 (Gutsy Gibbon), and the next one is scheduled to be 8.04 (Hardy Heron).
It is a concept for what an operating system should look like in the context of a virtual appliance.
Tech Specs:
* 151M iso image
* Kernel 2.6.22
* Optimized for VMWare ESX, VMWare Server
* Intel or AMD x86 architecture
* Minimum memory 128Mo
* No graphical environment preloaded as it is aimed at Server virtual appliance
* Working knowledge of linux administration, dpkg and aptitude recommended to start building your own appliance