VIASPACE Press Release
Tyco Electronics Corporation Announces Manufacturing Agreement with Direct Methanol Fuel Cell Corporation (DMFCC)
PASADENA, CA -July 18, 2007-- VIASPACE Inc. (OTCBB: VSPC), a company dedicated to commercializing proven technologies from NASA and the US Department of Defense, announced today that its subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC), has signed a design and certified manufacturer agreement with Tyco Electronics Corporation, a global manufacturer of electronic components and systems.
"Direct Methanol Fuel Cell Corporation has been establishing a global network of suppliers to manufacture and distribute fuel cartridges and other fuel cell products", reports Dr. Carl Kukkonen, CEO of both VIASPACE and DMFCC. "DMFCC is now broadening its market focus to work on special fuel cell applications in addition to producing methanol fuel cartridges that will provide the energy source for laptop computers, mobile phones, and other portable electronic devices to be powered by direct methanol fuel cells. I welcome Tyco Electronics Corporation as a supplier of these products and look forward to a long and mutually beneficial relationship. Our strategic goal is to have manufacturing partners that are already trusted suppliers to the OEMs, and Tyco Electronics clearly fits that definition."
"Tyco Electronics is always looking to innovative technologies and is looking forward to working with DMFCC on direct methanol fuel cells and liquid fuel cartridge products," added Boris Golubovic, Director of Business Development for Transpower products at Tyco Electronics. "Our manufacturing and applications expertise, combined with DMFCC's fuel cell and cartridge technology, can make it possible to address unmet customer needs for autonomous powering of electronic equipment."
Fuel cells are expected to gain a substantial market share in mobile electronics application where long operating times for electronic equipment may be required. The combination of direct methanol fuel cells and simple-to-use exchangeable cartridges provide a compelling value proposition in many applications. It has been announced that direct methanol fuel cells are being developed for portable electronic applications by companies such as Samsung and LG in Korea, and by Toshiba, NEC, Hitachi and Sanyo in Japan.
About VIASPACE: Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory. For more information, please visit our website at www.VIASPACE.com, or contact for Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR@VIASPACE.com.
About Tyco Electronics Ltd. Tyco Electronics Ltd., is a leading global provider of engineered electronic components, network solutions and wireless systems, with 2006 sales of US$12.8 billion to customer locations in more than 150 countries. Tyco Electronics designs, manufactures and markets products for customers in industries from automotive, appliances and aerospace and defense to telecommunications, computers and consumer electronics. With over 8,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is its customers' advantage. More information on Tyco Electronics can be found at www.tycoelectronics.com.
This VIASPACE news release includes forward-looking statements. These forward-looking statements relate to future events or our 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 the risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-KSB, as amended, for the fiscal year ended December 31, 2006, as well as general economic and business conditions, the ability to acquire and develop specific projects and technologies, the ability to fund operations, changes in consumer and business consumption habits, and other factors over which VIASPACE has little or no control.