VIASPACE Press Release
VIASPACE Partner Strategy Works With Samsung
PASADENA, CA -April 29, 2008-- VIASPACE Inc. (OTCBB: VSPC) outlined the strategy that its Direct Methanol Fuel Cell Corporation (DMFCC) subsidiary is pursing for the estimated multibillion-dollar market for disposable fuel cell cartridges.
Micro fuel cells are expected to replace batteries to power portable electronic devices such as notebook computers and mobile phones. Disposable fuel cartridges provide the fuel for these fuel cells which could power a notebook computer for up to 10 hours, and a mobile phone for up to three weeks. The fuel cartridges are disposable like AA batteries and represent a recurring revenue stream. In contrast to batteries, cartridges are made of recyclable materials.
VIASPACE and DMFCC CEO, Dr. Carl Kukkonen, states, "Major electronics OEMs are pursuing fuel cells for their electronic devices, and fuel cell powered notebook computers have been demonstrated by companies such as Samsung and Toshiba. These companies are developing their own fuel cells. DMFCC has developed the disposable fuel cartridges that consumers would purchase in the aftermarket to power these devices. Our expertise is in cartridge design and safety qualification, not high volume manufacturing. DMFCC is a fab-less company that relies on our global network of cartridge manufacturing partners that are already trusted, high quality suppliers to the major OEMs. This trust has been built up over many years and is a big asset to DMFCC."
DMFCC's team of key cartridge manufacturing partners around the globe includes manufacturing giants Tyco Electronics and Nypro Corporation. The SATO Group of Japan has been an early and key member of DMFCC's team. The SATO Group specializes in precision high volume manufacturing of and has existing supply chain relationships with major Asian consumer electronics manufacturers.
In a separate press release, VIASPACE recently announced the successful collaboration of DMFCC and the SATO Group in delivering sample methanol fuel cell cartridges and valves to Samsung SDI. DMFCC used its expertise in cartridge design and safety qualification, and the SATO Group manufactured the cartridges and valves that were successfully integrated with Samsung SDI fuel cells in a portable electronics application.
VIASPACE CEO Dr. Carl Kukkonen stated, "We are delighted that our cartridges and valves have been able to meet Samsung's initial requirements. This project involved extremely tight deadlines for several months, and I'm quite proud of our team for meeting these milestones and keeping Samsung's development project on schedule. I particularly want to thank our manufacturing partner, Sato Group of Japan, for their outstanding work."
Nobuo Sato, the CEO of Sato Group stated that "We believe our company, through our strong relationship with DMFCC, is in a solid position in developing fuel cell cartridges. DMFCC's testing and certification expertise combined with Sato Group's R&D capability, as well as our manufacturing expertise, complement each other extremely well in this evolving market." DMFCC and SATO Group are positioning themselves to capture a significant portion of the estimated multibillion-dollar fuel cell cartridge 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, or contact for Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR@VIASPACE.com.
Press contact: Carl Kukkonen 626-768-3360-----------------------------
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, for the fiscal year ended December 31, 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.