VIASPACE Press Release
VIASPACE Wins Global Distributorship For HYB Premium Lithium Ion Batteries
PASADENA, CA, USA.-May 20, 2008-VIASPACE Inc. (OTCBB: VSPC), announced today that it has signed an agreement to globally distribute the rechargeable lithium ion batteries produced by HYB Battery Co. Ltd, a technology leader in China. HYB, founded in 1999, produces high-quality, yet low-cost batteries. HYB batteries are used in a wide range of portable electronic applications, a $6 Billion market sector, including notebook computers, digital video and still cameras, GPS devices, and mobile phones. In addition, HYB also produces high discharge rate batteries for power tools, uninterruptible power supplies and light electric vehicles. HYB high quality has been audited and certified by 12 major customers. Its current customer list includes industry leaders such as Samsung, Tyco, Garmin, Philips, VARTA, Foxconn, and CelExpert.
HYB Battery Co. Ltd.'s 500,000 m2 manufacturing facility is located in Shenzhen, China. With 1600 employees and modern automated equipment, HYB's current capacity is 300,000 pieces per day. Production capacity is scheduled to double in the next 12 months. HYB has extensive quality and safety control procedures. They are ISO 9001 and 14001 certified, and their products are approved by Underwriters Laboratories (UL), CE marked and RoHS compliant. HYB produces cylindrical cells in the standard 18650, 14430 and other sizes. They have 20 different sizes of prismatic cells, and high-capacity cells with energy storage capacities ranging from 8-80 amp hours.
VIASPACE CEO Carl Kukkonen stated, "HYB has the precision batteries needed for demanding applications that require highest uniformity and quality, such as such as notebook computers and cell phones HYB already has batteries in commercial digital video and still cameras, cordless phones, and portable GPS systems. We will represent HYB in their existing market sectors, and develop new business in high-power applications such as power tools, electric bicycles and scooters, where we see market projections of a 400% increase in sales in the next two years. The VIASPACE Energy business unit focuses on alternative energy and portable power solutions. HYB adds great new rechargeable battery product line that complements our current battery and fuel cell products. HYB manufactures high quality batteries with an excellent safety record, and they sell them at a substantially lower cost than their Japanese and Korean competitors that currently dominate this $6 Billion marketplace."
About VIASPACE: 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. VIASPACE is located in Pasadena California. For more information, please see www.VIASPACE.com, or contact 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.