VIASPACE Press Release
VIASPACE Expands Its Energy Product Line With Exclusive Deal For Fuel Cell Test Stations
PASADENA, CA.-July 7, 2008-VIASPACE Inc. (OTCBB: VSPC), a company that transforms proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions, announced today that it has entered into a distribution agreement for Fuel Cell Test Stations and carbon based Bi-Polar plates manufactured by GasHub of Singapore.
GasHub is a major manufacturer of high technology products including fuel cell test stations to companies and universities in Singapore. It has also developed promising new carbon-based bi-polar plates. The current standard for bi-polar plates, used to manufacture most fuel cells, is a machined graphite based product. GasHub's new carbon based Bi-polar plates have produced promising results with a much lower cost of manufacture.
Fuel Cell test stations that can test hydrogen, liquid and solid based fuel cells are an expanding portion of the $54 Billion clean energy market. GasHub's tests stations are lower cost options for many countries, such as China, which have large, emerging needs for alternate energy. Hundreds of universities throughout the world are also engaged in fuel cell research, but must deal with the reality of limited budgets when it comes to equipment purchases.
The performance of hydrogen fuel cells using a Polymer Electrolyte Membrane (PEM) depends on the moisture level of the membrane. The membrane only conducts protons when it is hydrated or moist. The moisture is provided by water vapor in the incoming air or hydrogen stream. VIASPACE already produces the VIASPACE HS-1000 VIASENSOR which provides real-time measurements of the amount of water vapor in these gas streams and can be utilized within a fuel cell test station for that purpose.
VIASPACE CEO Carl Kukkonen stated, "We are very pleased with this new agreement, granting VIASPACE exclusive rights to distribute these products in the U.S. and Asia. The efforts we have put into establishment of a global distribution network now will give us the opportunity to make major expansions to our fuel cell instrument product line without further investment in research and development. They also provide an opportunity to sell a VIASENSOR to every customer we call on to discuss fuel cell test stations as well."
Kukkonen continued, " We are also very excited concerning the carbon based bi-polar plates developed by GasHub. This new technology shows great promise to date and offers a lower cost alternative for this mass produced product used in most fuel cells."
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. 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: Dr. 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.