VIASPACE Press Release
VIASPACE ENTERS AGREEMENT WITH WORLD LEADER IN SPECIALITY-LIQUIDS PACKAGING
Adds Capability for Large-Scale Filling and Distribution of Methanol Fuel and Cartridges for Fuel Cells
PASADENA, CA-May 20, 2009-VIASPACE Inc. (OTCBB: VSPC), a clean energy company providing products and technology for renewable and alternative energy, today announced the signing of a memorandum of understanding (MOU) with England-based Hayman Ltd. (Hayman), a worldwide packager and distributor of alcohols and solvents.
Under the MOU, Hayman Speciality Products will provide methanol filling and distribution services to Direct Methanol Fuel Cell Corporation (DMFCC), VIASPACE's alternative energy subsidiary engaged in manufacturing disposable fuel cartridges for direct methanol fuel cell powered electronics such as notebook computers, mobile phones and military equipment.
Hayman Ltd has been handling ethyl alcohol for over 100 years. For the last 50 years Hayman Speciality Products has developed a global business as a supplier of ethanol, methanol and isopropanol and other high quality solvents to the pharmaceutical, flavour, fragrance, personal care industries and research laboratories. Strong relationships with some of the largest chemical companies in the world have been developed.
A broad range of pack types is available to meet customer needs including bulk road tankers, intermediate bulk containers, drums, cans and cases of plastic containers and glass bottles. A worldwide distribution network has been established which is used to supply packaged methanol and other products globally, and this partnership with DMFCC is consistent with the strategy to seek continuously evolving opportunities in fuel cells and related industries.
VIASPACE Chief Executive Dr. Carl Kukkonen remarked: "Automated cartridge filling is a crucial element in the large-scale manufacturing and distribution infrastructure we are building for our fuel cell cartridge business. In that respect, Hayman, which has the proven capability to fill and distribute a wide variety of containers, makes an excellent partner, and we are very happy to have them on our team. Hayman can also provide bulk methanol with guaranteed quality to our cartridge partners worldwide for local filling."
DMFCC is a cartridge partner with Samsung and other companies engaged in developing fuel cells as alternative power sources for a range of consumer, military and other applications.
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 other high-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 IR@VIASPACE.com.
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-K for the year ended December 31, 2008, 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.