VIASPACE Press Release
VIASPACE CEO TOURS DP CLEANTECH BIOMASS POWER PLANT IN CHINA
Confirms Prior Usage Estimate and Yield Advantage of Giant King Grass;
Sees Additional Cost and Environmental Benefits
Irvine, CA, and Beijing, China- September 22, 2009-VIASPACE Inc. (OTC Bulletin Board: VSPC), a clean energy company growing Giant King Grass in China as a renewable, low-carbon energy crop, announced that CEO Dr. Carl Kukkonen toured a working DP CleanTech 30 MW (megawatt) power plant, which could be powered entirely with 175,000 metric tons of VIASPACE's Giant King Grass per year. At the current market price in China, the demand for Giant King Grass by just one such 30-MW power plant would provide about $6.3 million in additional annual revenue to VIASPACE.
Kukkonen visited the 30-MW Wangkiu biomass electricity generating power plant built and operated by Beijing-based DP CleanTech Company Limited. The Wangkiu plant, located near Harbin, currently uses corn straw as fuel for generating electric power. This corn straw is agricultural waste from corn crops within a 50 kilometer radius of their power plant, with approximately four tons of corn straw available from each acre of corn.
In comparison, Giant King Grass, yields more than 10 times the tonnage per acre, and, co-located as a dedicated energy crop, transport distances could be reduced by a factor of 10, thereby reducing transportation costs and related carbon emissions. And based on an earlier independent analysis, Giant King Grass is nearly identical to corn straw and therefore suitable for burning in DP CleanTech power plants.
DP CleanTech is a world leader in the design and construction of biomass power plants and the largest biomass electric power provider in China. DP CleanTech has built, owns and operates 19 biomass power plants that have a combined power-generating capacity of more than 400 MW.
In early September, VIASPACE and DP CleanTech signed a memorandum of understanding that involves the parties working toward a long-term contract under which VIASPACE would, over a period of years, supply substantially increasing tonnage of Giant King Grass to DP CleanTech. Also under the MOU, by the end of 2009 VIASPACE will carry out a test firing of Giant King Grass in one of DP CleanTech's existing power plants.
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 IR@VIASPACE.com.
About DP CleanTech Limited.: DPCleanTech is a world leader in providing biomass power plant solutions in the rapidly growing global renewable energy industry. With centers of expertise in both Europe and China, DP CleanTech is a truly global business. The unique technology originated in Denmark has been constantly optimized and is now manufactured in multiple locations in Europe and China. DP CleanTech provides design, and engineering, procurement, & construction (EPC) services to deliver turnkey biomass power plants with 19 dedicated biomass power plants in operation.
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.