VIASPACE Press Release

VIASPACE INC. ALTERNATIVE ENERGY BUSINESS COVERED IN RESEARCH REPORT

03/23/2009

Focus on Biofuels and Fuel Cells Holds Growth and Profit Potential

PASADENA, CA-March 23, 2009-A research report and stock alert issued last week on VIASPACE Inc. (OTCBB: VSPC) provide a detailed description of VIASPACE's alternative energy business and future growth and profit potential, according to VIASPACE Chief Executive Dr. Carl Kukkonen. Cohen Independent Research Group (CIRG) published a comprehensive research report on VIASPACE covering the Company's recent acquisition of IPA, a profitable company, and restructuring to focus on a renewable, green source of energy-a fast-growing grass for biofuels-and clean energy-fuel cell cartridges and a portfolio of direct methanol fuel cell patents. The March 18 CIRG report, including its recommendation and price targets, is available at http://www.cohenresearch.com/.

Also on March 18, a Stock Alert on VIASPACE was issued by The Green Baron Report at http://www.thegreenbaron.com/.

Dr. Kukkonen commented: "In a relatively short period of time we accomplished a restructuring to reduce operating expenses, sold a non-core business, and used the proceeds from that sale to reduce debt. We also acquired a company that not only provided entry into renewable energy but is also generating net income and positive cash flow that will be used to support growth of our core alternative energy business. As a result, and with anticipated increasing demand for alternative energy sources and technologies, VIASPACE's business potential and financial outlook have materially and substantially improved. For example, VIASPACE subsidiary Direct Methanol Fuel Cell Corporation recently completed its second fuel cartridge contract with Samsung."

Kukkonen continued: "The CIRG research report provides a comprehensive analysis of VIASPACE's alternative energy business and strategy. It discusses the Company's green and clean energy businesses and potential and makes a "strong buy" recommendation, including stock price targets based on best and worst-case scenarios."

"We will continue to build our fuel cell cartridge business, which has great potential," Kukkonen said. "However, our added focus on agriculture products as a renewable energy source diversifies our base for growth and also broadens the universe of potential investors in VIASPACE."

Kukkonen reiterated that the Company is now growing Giant King grass in China and plans to initially sell to the animal feed market and later to producers of biofuels such as cellulosic ethanol, biocrude and green gasoline. Therefore, while biofuels are VIASPACE's primary and large market opportunity for the grass, the Company is positioned for more immediate revenues while biofuel plants and infrastructure are being built."

Commenting on VIASPACE's revenue outlook, Kukkonen added that the Company's restructured operations and new business strategy are expected to achieve revenue growth in 2009, with revenues from its renewable and clean energy businesses achieving greater visibility in 2010 and becoming the dominant source of total revenues by 2011.

About VIASPACE Inc.: VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and high-risk-pollutant energy sources. The Company provides raw material for cellulosic biofuels and develops and markets fuel cell cartridges, products and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns a portfolio of fuel cell patents licensed from Pasadena-based California Institute of Technology (Caltech), which manages NASA's Jet Propulsion Laboratory, where the direct methanol fuel cell was invented. For more information, please see http://www.viaspace.com/ or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or [email protected].

Safe Harbor Statement:  Information in this news release and include forward-looking statements. These forward-looking statements relate to future events or 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, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-KSB for the year ended December 31, 2007, as well as general economic and business conditions; the ability to acquire and develop specific products and technologies; changes in consumer and business demand for the Company's products; competition from larger companies; changes in demand for alternative and clean energy; risks associated with international transactions; risks related to technological change; and other factors over which VIASPACE has little or no control. 

References to the CIRG report  and The Green Baron are for informational purposes only and do not constitute an endorsement, agreement or disagreement with the content, accuracy or conclusions contained in the report or alert.