VIASPACE Press Release
VIASPACE CEO CARL KUKKONEN INTERVIEWED ON CEONEWS.TV
Reviews Company's Renewable Energy, Fuel Cell Cartridge Businesses; Updates Progress and Outlook for Giant KingTM Grass
Irvine, CA- December 16, 2009-VIASPACE Inc. (OTC Bulletin Board: VSPC), a clean energy company growing Giant KingTM Grass as a renewable, low-carbon energy crop, today announced that Chief Executive Carl Kukkonen was recently interviewed on CEONEWS.TV. During the interview he reviewed the Company's renewable energy and fuel cell cartridge businesses and provided a brief update on the progress and outlook for Giant King Grass. A replay of the interview is available at www.ceonews.tv/vspc.
Kukkonen reiterated that VIASPACE's overall strategy for the clean energy markets is to develop and market consumables, such as renewable crops for producing low-carbon energy, and fuel cartridges for micro fuel cells for portable electronic devices.
Kukkonen said that the fast growing and high yield characteristics of Giant King Grass make it an excellent renewable, low-carbon energy crop that can be burned as biomass, processed into pellets to replace coal or converted into cellulosic liquid biofuels called grassoline. Coal accounts for 41% of all electricity worldwide and represents a substantial market opportunity. In 2010 the Company expects to begin selling Giant King Grass pellets. Anticipating new supply contracts and other large energy projects in 2010, Kukkonen stated that the Company is expanding production capacity in China and seeking additional acreage and growing opportunities in Indonesia.
Kukkonen also reiterated that VIASPACE is partnered with Samsung to make fuel cartridges for fuel cells for notebook computers. By providing the consumable fuel cartridges, Kukkonen expects to generate a stream of recurring revenue; much like the repeated sales of razor blades are generated by the sale of razors.
As for the expected listing of VIASPACE's subsidiary, VIASPACE Green Energy (VGE), as a separately reporting public company, Kukkonen added that VGE will offer investors a pure play in Giant King Grass, whereas VIASPACE Inc. represents a diversified opportunity in renewable and clean energy. However, since VIASPACE Inc. expects to remain the majority shareholder and continue to consolidate VGE revenue and future earnings, VIASPACE Inc. shareholders will continue to benefit from VGE growth and potential stock price appreciation. Kukkonen also commented that VGE shares could potentially be attractive for institutional investors.
The Securities and Exchange Commission is reviewing the amended VGE Form S-1 filing and their response is expected at any time. The amended filing is available at http://www.sec.gov/ under VIASPACE Green Energy. VIASPACE Inc. is continuing negotiations with the seller of Inter-Pacific Arts while awaiting the response from the SEC.
Kukkonen commented that while all sources of alternative energy including solar and wind are increasing in importance, only biomass such as Giant King Grass can be easily stored and therefore used to generate a continual supply of energy day and night, seven days a week, whether it is windy or calm.
CEONEWS.Tv is an online, market news provider that brings investors Big News For The SmallCap Market!TM CEONEWS.Tv offers one-on-one interviews with the CEOs, CFOs, COOs, presidents and directors of companies to deliver answers to the questions that investors would like asked. Through these interviews executives share their insights, accomplishments, current projects, daily challenges they face and future goals and aspirations they have for the companies that they lead. For further information, please visit http://www.ceonews.tv/.
About VIASPACE Inc.
VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. The Company grows Giant King Grass as a low carbon fuel for electricity generating power plants and as a feedstock for cellulosic biofuels. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation develops fuel cartridges for direct methanol fuel cells, and 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 interview includes 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.