VIASPACE Press Release
VIASPACE Subsidiary DMFCC Teams with ANTIG of Taiwan on Joint Development of Fuel Cell Products
VIASPACE SUBSIDIARY DMFCC SIGNS TEAMING AGREEMENT WITH ANTIG OF TAIWAN FOR JOINT DEVELOPMENT OF FUEL CELL PRODUCTS
PASADENA, CA -October 15, 2007-VIASPACE Inc. (OTCBB: VSPC) announced that Taiwanese Fuel Cell Developer ANTIG and VIASPACE subsidiary Direct Methanol Fuel Cell Corporation (DMFCC) have signed a teaming agreement to collaborate on the development of fuel cell systems that leverage ANTIG's innovative micro fuel cell stacks, along with Direct Methanol Fuel Cell Corporation's line of fuel cell cartridges and other products
Dr. Carl Kukkonen, CEO of both VIASPACE and DMFCC, stated "Our teaming agreement with ANTIG is a key example of DMFCC's continued expansion of its global business strategy. We are partnering with top organizations that have a good reputation and the trust of customers in their own markets. We are honored to have a relationship with ANTIG, which is working with major commercial customers in Taiwan and elsewhere in Asia. We believe that this teaming agreement will benefit both organizations and will help fuel cells to reach the marketplace more quickly"
ANTIG develops fuel cells and related products in collaboration with major electronics corporations in Taiwan and throughout Asia. DMFCC will partner with ANTIG on certain projects and will also extend IP protection to ANTIG and their customers for the extensive Caltech IP portfolio that DMFCC has licensed from Caltech and University of Southern California.
Brent McKendry, Antig CEO said that "We are pleased to have this opportunity to work closer with DMFCC and believe it brings added value to all our partners who are currently building fuel cell systems."
VIASPACE is a growing company with proprietary technology, much of which was originally developed at the NASA Jet Propulsion Laboratory (JPL) and licensed from Caltech, which manages JPL for NASA.
VIASPACE has previously announced other strategic relationships in its VIASPACE Energy and VIASPACE Security business units..
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 www.VIASPACE.com, or contact Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR@VIASPACE.com. For past press releases, please visit: http://www.viaspace.com/press_release.php.
Press contact: Carl Kukkonen 626-768-3360
About Antig: Antig is a leading developer of micro fuel cell stacks - the power generators inside a fuel cell system. Based out of Taipei, Taiwan, Antig currently has over 230 patents in the area of fuel cell stack and system design, and has been recognized worldwide for their innovative H2ChipTM technology.
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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.