VIASPACE Press Release
VIASPACE Reports on $1.5 Million in Military Contracts
PASADENA, CA -October 22, 2008-VIASPACE Inc. (OTCBB: VSPC) today provided an overview of the company's progress, highlighting its Ionfinity subsidiary's recent two year contracts from the U.S. Army and the U.S. Navy. These Phase II contracts represent an ongoing commitment by the U.S. military and are a milestone reached only by companies with top technical proposals.
In addition, VIASPACE Energy has recently reported that is has received a repeat multi-unit order for its HS-1000 VIASENSOR from a major automobile manufacturer, as well as a multi-unit order for the HS-1000 from a major manufacturer of instrumentation and test equipment as it gains market share in the $54 billion clean energy market.
Dr. Carl Kukkonen, CEO of VIASPACE, commented, "We are extremely pleased with Ionfinity's recent success in gaining two of our nation's military services as major customers on these competitively bid, multi-year contracts. Their agreement with our technical approach, along with the participation by Caltech, NASA's Jet Propulsion Lab and General Dynamics, lends tremendous third party validation of our recent hard work to get to this level of funded support. VIASPACE exhibits increasing progress and diversity as its subsidiaries continue to add additional impressive customers and partners."
Dr. Kukkonen continued, "We are also very pleased to have sold our VIASENSOR HS-1000 humidity sensor to two major Asian corporations in different fields of endeavor.
The detailed and expensive comparison tests of all currently available humidity sensors by the automotive manufacturer prior to their repeat order for the HS-1000 and the in-house evaluation of and order for the HS-1000 and request for a quote on a second unit, the HS-2000, by the instrumentation manufacturer, again add tremendous third party validation that we have something of value to offer to the fuel cell, automotive and instrumentation industries."
Dr. Kukkonen concluded, "We will be showcasing the HS-1000 at the upcoming Fuel Cell Seminar in Phoenix, AZ next week, along with our BA-1000 Lithium Battery Analyzer, our two new lines of Lithium Polymer and Lithium Ion batteries, as well as some of our recent fuel cell test station additions to our product line. Our booth will also feature Direct Methanol Fuel Cell Corporation's (DMFCC) line of direct methanol fuel cell cartridges, which we are currently building for Samsung, Polyfuel and others in the industry."
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.