VIASPACE Press Release
VIASPACE CEO INTERVIEWED ON GREEN BARON REPORT WEBCAST
Discusses Renewable Energy Business, First Commercial Product and
Growth Strategy for 2010
IRVINE, Calif.-June 3, 2010-VIASPACE Inc. (OTC Bulletin Board: VSPC - News), a clean energy company growing Giant KingTM Grass as a low-carbon, renewable energy crop, announced today that Chief Executive Dr. Carl Kukkonen was interviewed by The Green Baron Report. The interview included Kukkonen's comments about VIASPACE's renewable energy business, recent developments including the launch of its first commercial product, and growth plans.
Unrestricted access to the webcast is available on the "Webcasts" page at http://www.thegreenbaron.com/ . In a report issued after the close of trading on May 25, 2010, VIASPACE Inc. was recommended as a "Stock Pick" by The Green Baron Report.
During the interview, Kukkonen spoke on a variety of topics including:
- How the Company's Giant King Grass can effectively replace coal as the heat source used by power plants to produce electricity. Giant King Grass is carbon-emissions neutral and will help power plants meet their objectives of lower carbon emissions by 2020.
- Potential business partners in China, Europe and other regions where biomass power plants have been built or are under construction, and coal-using power plants are being converted to use biomass. In addition to biomass for producing electric power, other commercial opportunities for Giant King Grass include low-carbon biomethane and liquid transportation biofuels such as second-generation cellulosic ethanol, butanol and biodiesel collectively known as grassoline.
- Giant King Grass offers significant advantages-over other biomass such as corn-since it is a non-food crop and can be grown on marginally productive land that is unsuitable for food crops. It is also very fast-growing and can be harvested several times a year. The extremely high yield of Giant King Grass compared to other agricultural crops being used as biomass provides a distinct economic advantage: low cost-due to very the high productivity of land and labor-and also provides a continual, reliable supply of fuel and feedstock for the customer.
- The Company's 250 acres of Giant King Grass growing in China can provide sufficient seedlings to plant more than 10,000 acres of new crops per year to support partners' energy projects.
- VIASPACE recently launched its first commercial green energy product for sale in the U.S. Its new Green LogTM for fireplaces and campfires is the first manufactured log made from a dedicated energy crop. It consists of all natural materials-Giant King Grass, palm oil, natural paraffin-and no petroleum products are used. Kukkonen estimates that this product can capture a material share of the $400 million annual U.S. market, as its vertically integrated operations-from growing to processing to on-site manufacturing-enable the Company to sell Green Logs at very competitive prices compared to conventional logs, which use wood and petroleum products.
- The Company also anticipates the launch of other new energy projects in 2010.
Kukkonen concluded the interview by commenting on the Company's success with garnering international recognition of Giant King Grass as a top candidate for energy applications and entering discussions and confidentiality agreements with numerous potential customers who are evaluating Giant King Grass for their biomass-power projects. Testing has confirmed the effectiveness of Giant King Grass as a coal replacement that is suitable for power plants and biogas production. The Company has the capacity and supply infrastructure to support large energy projects, and its Green Log fireplace and campfire logs, now entering the marketplace, are expected to contribute to revenue growth in 2010.
About The Green Baron Report
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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. Through its majority-owned subsidiary VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels, and for other low-carbon, renewable energy products. For more information, please go to 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, 2009, 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.