VIASPACE Press Release
VIASPACE JOINS AGRICULTURE DEVELOPMENT PROJECT IN AFRICA
3,000-Acre Cultivation Plan Includes Giant King Grass, Potential as Dedicated Energy Crop for Electric Power Plant
PASADENA, CA-June 1, 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 with Auro Infra to develop an agricultural project in Tanzania based on Giant King Grass. Auro Infra is a private company registered in India and the project is led by Indians resident in Tanzania.
Located south of the equator in Africa, Tanzania's climate is ideal for growing Giant King Grass, with plentiful rainfall and additional water available for irrigation. According to project plans, up to 3,000 acres will be planted with Giant King Grass, as well as sandalwood. While the grass will be used initially as feed for up to 5,000 head of cattle and sheep, the project group is examining the potential to use the grass as a dedicated energy crop to power an electrical generation plant.
Chief Executive Carl Kukkonen commented: "VIASPACE is pursuing global opportunities to grow and commercialize Giant King Grass as a low carbon renewable energy source, but also as animal feed in the near term. We are now growing Giant King Grass on leased land in China and are also seeking opportunities like this project in Africa to grow grass in other regions where both agriculture and industry are being encouraged as keys to economic development.
Kukkonen added. "To support our primary business plan to generate recurring revenue streams from clean energy, we are pursuing long-term grass supply contracts with biofuel producers and clean power plants. For example, a 30-megawatt biomass-based electricity power plant requires 460 tons of Giant King Grass each day during its approximately 50-year expected life."
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.