Viaspace, Inc. (VSPC)

WALNUT, Calif., Jan. 11, 2016 /PRNewswire/ -- VIASPACE Inc. (VSPC) reported that CEO, Mr. Haris Basit, visited the Energia Reino Verde Giant King Grass power plant project under development in Nicaragua in December 2015. Chief Technology Officer, Dr. Carl Kukkonen, accompanied him during the visit.

Energia Reino Verde (ERV) is a planned 12.3 MW biomass power plant co-located with a 2,100 acre Giant King Grass plantation that is part of a larger 10,000 acre rice plantation and rice mill that provides rice to Agri-Corp, a large diversified food company that has more than 50% of the rice market in Nicaragua. VIASPACE is co-developing this project with Agri-Corp executives and investors. VIASPACE and the Agri-Corp team are equal partners in ERV. The project has received a letter of intent from two international development banks which are working together to provide the debt financing, and the Nicaraguan partners will arrange the majority of the equity financing. The boiler technology has been selected and an engineering, procurement and construction contract has been signed. Giant King Grass has been growing in Nicaragua for more than two years. The project is ready to go, upon approval of the Nicaraguan government.

Mr. Basit met with Mr. Amilcar Ybarra, CEO of Agri-Corp, in Managua to receive a briefing on the ERV project, and visited the rice plantation where the Giant King Grass is growing and met with the agriculture team.

Mr. Basit stated, "I was very impressed with the overall capabilities of Agri-Corp and we are pleased to have them as a partner. I want to thank Mr. Ybarra for hosting my visit. It is clear that the project is very far along and that we will be able to proceed very quickly once we get government approval.  The visit to the rice plantation was very informative.  They plant and harvest about 6,000 acres of rice twice each year. They are extremely professional with top-quality equipment and trained agronomists. It is a large operation that includes an on-site rice mill. Giant King Grass has been growing on the plantation for more than two years, and the power plant will also be co-located on the plantation so that the furthest field will only be 2 miles from the power plant. This makes logistics much simpler and financially efficient."

The Giant King Grass project in Nicaragua will provide reliable 24/7 base electricity that is renewable with zero net carbon dioxide emissions. The project will replace imported oil which is the source of base electricity today, and provide more than 400 rural jobs in Nicaragua. Other renewable energy sources such as solar and wind are intermittent sources that cannot be relied upon continuously and require oil backup electricity to compensate for intermittency. 

Mr. Basit concluded, "The Energia Reino Verde project will be our showroom for customers for future projects throughout the world. VIASPACE has the capability to develop the entire project including the plantation and power plant, and is working with customers and development partners on similar projects around the globe. We and our partners can do everything from a prefeasibility study and financial model through Engineering Procurement and Construction and commissioning of the power plant."

WALNUT, Calif., Dec. 21, 2015 /PRNewswire/ -- VIASPACE Inc. (VSPC) provides an update on electricity projects being pursued by VIASPACE and partners around the world. Several of the projects have been publicly discussed previously and some are new projects. All of the projects have customer sensitivity and some are completely confidential at the request of the customers. The confidential projects will only be described at a high level.

Biomass electricity projects using Giant King Grass as the fuel have many unique and favorable characteristics.

• Renewable energy -- Giant King Grass is a high-yield perennial crop that regrows after cutting and is harvested 2 to 4 times per year for energy.
  Provides 24 hour-per-day, reliable base electricity throughout the year. Other renewable energy sources such as solar and wind are intermittent sources that cannot be relied upon continuously.
  Does not require oil backup electricity to compensate for intermittency.
  Carbon neutral -- Direct combustion of Giant King Grass or burning biogas releases carbon dioxide into the atmosphere. Plants breathe carbon dioxide and the regrowth of the Giant King Grass re-absorbs the same amount of carbon dioxide that was emitted.
  Money stays in the country. In most cases, Giant King Grass replaces imported oil or coal. Growing in country means that the money stays in the country rather than going overseas to pay for oil.
  Creates jobs -- the Giant King Grass plantation creates needed rural agricultural employment in addition to employment at the power plant.

These are important factors for all of our customers. A major negative factor for renewable energy over this recent year has been low oil prices. Many developing countries depend on oil for their electricity. In mid-2014, Giant King Grass electricity was at a much lower price than oil electricity. Today, oil electricity is less expensive than biomass, solar and wind. Electricity producers recognize that oil is not likely to stay at a low price for the 25 year life of a power plant, but they are profiting from the low oil prices while they last. The recent climate conference in Paris has brought new emphasis on clean renewable energy and this is very encouraging.

Current Giant King Grass power plant projects fall into two types.  One method is direct combustion, which produces heat that boils water to make high-pressure steam which turns a turbine connected to a generator which makes electricity. The other method is anaerobic digestion which uses a biological process to convert Giant King Grass into a methane rich biogas which is burned in an engine that turns a generator to make electricity. Direct combustion projects range from 10 MW to 35 MW and even higher. Typical anaerobic digestion projects are from 1 MW to 7 MW.

Direct Combustion Power Plant Projects

• Energia Reino Verde in Nicaragua is a 12.3 MW project co-located with a 2,100 acre Giant King Grass plantation that is part of a larger 10,000 acre rice plantation.  VIASPACE is co-developing this project with prominent Nicaraguan partners. The project has received a letter of intent from two international development banks which are working together to provide for 70% debt financing, and the Nicaraguan partners will arrange the majority of the equity financing. The boiler technology has been selected and an engineering, procurement and construction (EPC) contract has been signed. Giant King Grass has been growing in Nicaragua for more than two years. The project is ready to go and is awaiting approval from the Nicaraguan government.
  VIASPACE was retained by a customer to conduct a prefeasibility study to essentially reproduce the Nicaragua project in Africa. The prefeasibility study was completed and the customer has indicated that they plan to pursue the project. VIASPACE will provide the Giant King Grass and training for their 2,100 acre plantation.
  Another customer has contracted for a formal feasibility study for a 35 MW Giant King Grass power plant and 6,400 acre Giant King Grass plantation. A draft feasibility study has been delivered to the customer and the final product will be delivered in January 2016. This project is in the Americas.
  VIASPACE is at an earlier stage in providing information for potential projects in Asia and Africa.

Biogas Power Plant Projects

• Tibbar Energy USVI, LLC is developing an anaerobic digestion (AD), renewable energy facility that will produce a Net of 7MW of base load power that will be sold to Virgin Island Water and Power Authority (WAPA) for the next 25 years on the island of St. Croix. The project will provide almost 20% of the island's base load power. Tania Tomyn, the CEO of Tibbar Energy said, "We have just about finished a 4-month full scale pilot giving us our biogas yields and fertilizer management design." The AD facility will produce its own fertilizer for the farm land Tibbar will grow GKG on and provide small farmers on the island of St. Croix with fertilizer for free.  Tibbar has been growing Giant King Grass on St. Croix for three years.  The project has a fully executed power purchase agreement, and approval from the Virgin Island Public Service Commission (PSC), 27 local and federal permits approved, and the project is in final stages of financial close which is anticipated in early 2016. The carbon neutral project will be a testament to GKG crop production and baseload power production in the Caribbean.
  Clean Energy Solutions Pacific is developing a 2 MW anaerobic digestion power plant in Papua New Guinea. Giant King Grass will be the exclusive fuel. The company has contracted with VIASPACE for a design and engineering study and operations plan of the power plant. These have been completed. The company has a power purchase agreement and is in discussions on the financing of the power plant.
  VIASPACE is pursuing other biogas opportunities in the Americas and elsewhere.

VIASPACE Chief Technology Officer, Dr. Carl Kukkonen, reports, "There are many opportunities for Giant King Grass as a fuel for power plants and as a feedstock for biofuels and biochemicals. The high-yield of Giant King Grass, combined with the logistical and cost advantages of co-location of the power plant and plantation, and continuous just-in-time harvesting, make Giant King Grass the least expensive biomass energy crop. Giant King Grass can also be co-fired with seasonal agricultural waste such as rice straw or sugarcane bagasse. VIASPACE has the ability to deliver an entire biomass power plant solution including the Giant King Grass plantation and the power plant itself which is available from our well-known partners.  The recent climate conference in Paris should make zero carbon biomass electricity more attractive. Giant King Grass can also be used to make pellets and bio coal for co-firing with coal to reduce carbon dioxide emissions."

VIASPACE Chairman, Dr. Kevin Schewe, commented, "Zero carbon biomass energy projects have been facing economic headwinds given the recent low cost of oil. We know that oil prices fluctuate and will eventually go up again. On December 12, 2015, 195 countries agreed by consensus to a global climate pact, the Paris Agreement, to reduce emissions as part of the method for reducing greenhouse gas. In the 12-page document, the members agreed to reduce their carbon output 'as soon as possible' and to do their best to keep global warming to well below 2 degrees Celsius. France's Foreign Minister, Laurent Fabius, said this 'ambitious and balanced' plan was a 'historic turning point' in the goal of reducing global warming. We are hopeful that this renewed international emphasis on global warming and reduction of CO2 levels will translate into bonafide economic stimulus or carbon credits that will accelerate the attractiveness of our business model for biomass derived electricity. We are making every effort to finalize the projects in our immediate pipeline which will serve as excellent carbon neutral examples for the global community."

About VIASPACE Inc.
VIASPACE grows renewable Giant King® Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King® Grass is a proprietary, high yield, dedicated biomass energy crop. Giant King® Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. The USDA granted approval for planting Giant King®Grass throughout the US and cooperates in exporting by performing the required inspections and issuing the phytosanitary certificate needed for import into foreign countries. Giant King® Grass is being grown in California, Hawaii, St. Croix Virgin Islands, Nicaragua, South Africa, China, Myanmar, Pakistan, Philippines and Guyana.  For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 orIR@VIASPACE.com.

Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2014, and other factors over which VIASPACE has little or no control.

WALNUT, Calif., Nov. 16, 2015 /PRNewswire/ -- VIASPACE Inc. (VSPC) has been working intensively on growing Giant King® Grass (GKG) in California at the VIASPACE nursery, the University of California Desert Research and Extension Center, and with our partner Almaden Energy Group, LLC (AEG) for the past six months. This press release outlines the progress so far in this effort.

A detailed analysis of GKG for animal feed has been conducted using GKG grown at the VIASPACE nursery and independently at University of California research farm in Holtville, CA.  This study, done in concert with professional agronomists and animal nutritionists, helped determine the optimum time to harvest so as to maximize yield and feed value and thus revenue. The study included analysis of dozens of samples, taken at various maturities, for the yield as well as for the concentration of over thirty different nutrients and minerals.  Peak nutritional value and yield versus maturity were determined.

In addition to the nutrition studies, GKG at UC Holtville was mechanically harvested using a conventional swather, dried in the field and then baled into hay. Some GKG bales were sent to a local dairy for feed trials and some were used to produce animal feed pellets using a commercial pellet company. The pellets were analyzed for nutritional content and palatability. Animal feed can be used in the form of fresh chopped GKG, silage, hay or pellets.  Samples of GKG from multiple harvests in 2015 have been provided to local farmers and successfully fed to cows, goats and pigs.  The nutrition analysis shows that GKG is also suitable for horses.

AEG has leased a twenty-six acre plot of land in Imperial County, CA and also engaged a professional grower to grow Giant King Grass.  Twenty acres were planted in August 2015 utilizing several different techniques and planting densities.  Both manual and automated planting techniques were utilized.  Careful measurement of the cost and effectiveness of each technique has been performed.  This is a necessary step prior to scaling GKG for large production acreage.  Additional planting techniques have been tested in October and more will be tested in spring of 2016.  Testing to determine optimum harvesting and baling techniques will be carried out in the first half of 2016. Furthermore, these 26 acres have been outfitted with equipment to accurately measure water utilization and confirm the water efficiency of GKG on a larger scale.

A second smaller plot of land has been planted in California's Central Valley in the heart of the largest and most concentrated dairy region within the United States.  Dairies are particularly sensitive to the nutritional content of their feed and usually benefit the most from quality feed with high protein content.  The purpose of this plot is to determine if GKG can be cost effectively grown this far north in a climate that is significantly cooler than Imperial County.  We are working closely with a major dairy and their professional nutritionists to establish the value of GKG within the dairy industry.  If GKG can be cost effectively grown in this region, it may be able to replace crops that consume far greater amounts of water than GKG, thus alleviating a crucial water shortage in that region.

VIASPACE Chief Executive Officer, Haris Basit, stated, "VIASPACE is excited about the potential for using GKG as animal feed.  Early tests indicate that GKG provides high quality animal nutrition using less acreage and water than existing forage crops. This potentially addresses the most important problems facing agriculture in California today. We have gotten excellent cooperation from major dairies and are hopeful that animal feed will open up a new major market for us."

VIASPACE board chairman, Dr. Kevin Schewe, commented, "We have strategically divided our business into two lines, animal feed and bioenergy. We believe that animal feed will represent an expedient and economically viable pathway to drive our business forward. VIASPACE and AEG are investing the necessary effort and resources to insure that we are responsible for our own success in commercializing GKG for animal feed. I am very pleased with the entrepreneurship and business enterprise skills that Mr. Basit has brought to VIASPACE. We mutually understand and agree on the importance and priority to get more significant revenues moving through this company. VIASPACE will be providing an update on energy related projects separately in the coming weeks."

AEG is focused on commercializing GKG for animal feed within the continental United States. AEG and VIASPACE have equity ownership in each other, three VIASPACE board members are also board members in AEG, and Haris Basit is CEO of both VIASPACE and AEG.

About VIASPACE Inc.
VIASPACE grows renewable Giant King® Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King® Grass is a proprietary, high yield, dedicated biomass energy crop. Giant King® Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. The USDA granted approval for planting Giant King®Grass throughout the US and cooperates in exporting by performing the required inspections and issuing the phytosanitary certificate needed for import into foreign countries. Giant King® Grass is being grown in California, Hawaii, St. Croix Virgin Islands, Nicaragua, South Africa, China, Myanmar, Pakistan, Philippines and Guyana.  For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 orIR@VIASPACE.com.

Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2014, and other factors over which VIASPACE has little or no control.