VIASPACE Press Release
VIASPACE Reports That Key Fuel Cell Patent in Europe, Licensed By VIASPACE Subsidiary, Has Been Issued To Caltech
PASADENA, CA - September 8, 2008-- VIASPACE Inc. (OTCBB: VSPC), announced today that a key Caltech direct methanol fuel cell patent was granted in Europe, specifically Germany, Spain, France, Great Britain, Italy, Netherlands and Sweden. This is patent EP 0 755 576 B1 for an organic fuel cell and methods of operation thereof and methods of manufacture thereof. The patent has been licensed from Caltech and the University of Southern California by VIASPACE subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC).
VIASPACE and Direct Methanol Fuel Cell Corporation CEO Dr. Carl Kukkonen stated, "A strong patent position is a key part of our strategy. The direct methanol fuel cell was invented at the NASA Jet Propulsion Laboratory (which is managed by Caltech) and the University of Southern California. We have licensed approximately 100 fuel cell patents from Caltech. The company has also filed several patent applications of its own. Foreign patents and particularly those in Europe, Japan and Korea are very important. This patent issuance is critical to potential business partners working with DMFCC for their fuel cell cartridge needs. Our company is focusing on the consumable part of the fuel cell business-- that is the fuel. International safety regulations require that the fuel be in a safe sealed container called the fuel cartridge. We and our partners are manufacturing and distributing disposable fuel cartridges for portable electronic devices. The fuel cell is analogous to a razor and the fuel cartridges to razor blades, and fuel cartridges represent a recurring revenue stream."
DMFCC's fuel cell cartridges are positioned to gain a substantial market share of a $3 Billion dollar projected industry volume in portable electronics because they offer longer operating time as compared to current lithium ion batteries and may be instantaneously recharged by simply replacing the disposable fuel cartridge. Leading OEMs have announced that they are developing direct methanol fuel cells for portable electronic applications.
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.