VIASPACE Press Release
VIASPACE Expands Scope of Security Business with New Industry Applications, Teaming Agreements, Resources & International Focus
PASADENA, Calif., September 4, 2007 - VIASPACE Inc. (OTC Bulletin Board: VSPC - News), a company commercializing proven technologies from NASA and the US Department of Defense into hardware and software solutions, is expanding the scope of its security division to pursue new business opportunities in the global market for defense and homeland security solutions as well as beginning marketing in other industries including avionics and diagnostics/prognostics of factory systems.
VIASPACE is broadening its focus to include potential customers in Asia and the Middle East, working with new teaming agreement partners, expanding its business development and marketing resources, and developing new software upgrades for established security systems.
Wholly owned subsidiary VIASPACE Security is developing high performance real-time expert system and sensor data fusion-based security solutions. The company leverages highly innovative SHINE inference engine technology originally pioneered by NASA to develop applications for border, port, maritime, aviation and other security applications. VIASPACE has an exclusive worldwide license from Caltech to commercialize SHINE technology for most major applications including diagnostics/prognostics, sensor fusion and homeland defense. VIASPACE Security is now widening its geographic focus to take advantage of opportunities both within and outside of the United States. The company has identified security prospects in Japan, SE Asia and the Middle East and has put teaming agreements as well as additional business development and marketing staff in place to develop those opportunities.
VIASPACE is executing on its current teaming strategy, partnering with established defense and security contractors on projects to accelerate products to market. VIASPACE is working with L-3 Communications to deliver advanced maritime cargo container security solutions for Phase II of the Department of Homeland Security's Advanced Container Security Device (ACSD) project. As announced in May 2007, VIASPACE Security expanded its role and received additional funding for the integration of software and hardware and final testing of the container screening hardware units.
The company is also exploring security and surveillance applications with Raytheon Net Centric Systems per a jointly executed teaming agreement. The company recently signed a teaming agreement for collaboration on software development of VIASPACE Security products with Tokai Bussan Co., Ltd. of Nagoya, Japan, which has strong marketing capabilities, a substantial distribution channel and the trust of many government and commercial customers in Japan.
VIASPACE Security has also partnered with e-Fuel Cell Technologies Sdn Bhd of Malaysia, a supply chain manager and distributor of consumer electronic and fuel cell products for major companies, universities, truck manufacturers and transportation operators and has a significant presence throughout Southeast Asia. VIASPACE Security is also pursuing new teaming relationships with current providers of commercially available hardware platforms for surveillance applications where the company's sensor fusion software can add significant value.
VIASPACE is also looking at other best fit applications and industries where sensor fusion technology can have major commercial impact. Areas of focus include facilities management, industrial process control, mobile electronics, power management, and diagnostics and prognostics applications for medical devices, avionics and industrial automation. Earlier this year the company licensed new software capabilities that significantly enhance the functionality of its SHINE inference engine technology and enable VIASPACE to accelerate the development of SHINE-based applications tailored to meet the requirements of customers in these industries.
Mr. Amjad Abdallat, COO of VIASPACE, commented: "Homeland security is a global business. Our security division is focusing on the growing market for commercial and military security solutions in the United States as well as Asia and the Middle East, leveraging new strategic teaming agreements and employing new business development resources in those regions to get products to market quickly. We see tremendous opportunities opening up worldwide for sensor fusion-based applications and are moving quickly to serve this thriving global market."
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
Investor Relations contact:
Dr. Jan Vandersande, Director of Communications
Dr. Carl Kukkonen, CEO
This 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, and our Quarterly Report on Form 10-Q for the period ended June 30, 2007, 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.