VIASPACE Press Release
VIASPACE CEO UPDATE ON GIANT KING GRASS AND GREEN LOGS
Irvine, CA USA-November 8, 2010-VIASPACE Inc. (OTC Bulletin Board: VSPC), a clean energy company growing Giant KingTM Grass as a low-carbon, renewable biomass crop, today provided an update on business and technical progress.
Chief Executive Dr. Carl Kukkonen stated, "I just returned from spending most of October in Asia where I visited the plantation and conducted several tours for potential customers. Visiting the plantation and seeing Giant King Grass in person is an important part of their due diligence. Most of our business discussions are covered by confidentiality agreements and we are not free to name specific companies. We only offer plantation tours to qualified parties that have signed a confidentiality agreement."
Below is a brief summary of activities during the last two months.
•· VIASPACE developed proposals for Giant King Grass as a fuel for biomass electricity power plants in India, Africa, China and the US
•· Pursuing energy pellet production partnerships in Indonesia, Africa and Southeast Asia for export to the European market
•· In negotiations for Giant King Grass for biogas electricity production in Thailand
•· Signed multiple Nondisclosure and Non-Circumvention Agreements with potential customers worldwide
•· Held a teleconference with a leading global consumer product company that is planning to replace petroleum-based chemicals and plastics used in their pharmaceutical, cleaning supply and personal care products by biochemicals and bio plastics
•· VIASPACE agronomists from the US and China worked at Giant King Grass plantation in China. They confirmed the high yield of Giant King Grass and are optimizing agronomic practices for sustainable cultivation
•· CEO hosted a series of customer tours of the plantation in China for representatives from China, US, India, Singapore and Australia
•· Met with and signed confidentiality agreement with international project development firm that is developing power plant projects in Southeast Asia. The firm also toured the plantation in China
•· Provided Giant King Grass samples for analysis of suitability for biofuel (cellulosic ethanol) production to companies in US, England and Denmark
•· Provided Giant King Grass sample for biogas production to companies in Thailand in Germany
•· CEO made technical presentations at two conferences in China. Newspaper story with picture in Shenzhen Daily and story in Shenzhen Economic daily.
•· A container of Green LogTM fireplace and campfire logs was shipped from China and is expected to arrive in the US in mid-November
Kukkonen continued," I believe that Giant King Grass exceeded the expectations of the potential customers that visited the plantation. Seeing is believing. No customer has seen an energy crop that is anywhere near as productive as Giant King Grass. Furthermore, our agronomists are very familiar with switchgrass, miscanthus, Arundo Donax, sugarcane, bana and elephant grass. Giant King Grass has much higher yield in terms of tons per acre than any of these. High yield means low cost, and this is the main attraction for customers, along with reliability of supply."
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. VIASPACE recently introduced its Green LogTM fireplace and campfire log product. 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 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.