VIASPACE Expands Giant King(TM) Grass Production Capacity
Company Leases Additional Acreage, Plans to Propagate Seedlings to Support $20 Million in Energy Projects in 2010
Press Release
Source: VIASPACE Inc.
On 8:30 am EST, Thursday November 19, 2009
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IRVINE, Calif., Nov. 19 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC - News), a clean energy company growing Giant King(TM) Grass as a low-carbon, renewable energy crop, today announced it has leased an additional 136 acres in Guangdong Province, China. The new acreage has already been planted with Giant King Grass.
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VIASPACE now has 250 acres under cultivation, and is in negotiations to acquire substantially more land. The current acreage is expected to support immediate needs for prototypes, demonstrations to potential customers and joint venture partners, and initial demand for products, such as energy pellets. Over the next several quarters, the acreage will also serve as a nursery and source of seedlings for planting on additional land.
Due to the fast-growing nature of Giant King Grass and the Company's plans to propagate seedlings that could result in geometric increases in plantings, VIASPACE believes it can support the development of up to 25,000 planted acres. Included in this plan are potential projects for 2010 involving 5,000 acres that would be projected to annually produce 200,000 tons of Giant King Grass pellets, which could be sold for $20 million.
VIASPACE Chief Executive Dr. Carl Kukkonen remarked: "With this new land under cultivation, we have the capability to substantially accelerate the production of renewable Giant King Grass crops that can support large, low-carbon energy projects, several of which we are discussing with potential partners and customers. If agreed upon and implemented, the projects would include direct combustion of Giant King Grass as biomass and Giant King Grass in pellet form to be co-fired with coal."
About VIASPACE Inc.
VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. The Company provides raw material for cellulosic biofuels and develops and markets fuel cell cartridges, products and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns a portfolio of fuel cell patents licensed from Pasadena-based California Institute of Technology (Caltech), which manages NASA's Jet Propulsion Laboratory, where the direct methanol fuel cell was invented. For more information, please see www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@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 any future results, levels of activity, performance or achievements 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, 2008, as well as general economic and business conditions; the ability to acquire and develop specific products and technologies; changes in consumer and business demand for the Company's products; competition from larger companies; changes in demand for alternative and clean energy; risks associated with international transactions; risks related to technological change; and other factors over which VIASPACE has little or no control.
