VIASPACE Press Release
VIASPACE CEO MEETS WITH POTENTIAL PARTNERS IN THAILAND
Irvine, CA USA-January 18, 2011-VIASPACE Inc. (OTC Bulletin Board: VSPC), and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) announced that Chief Executive Dr. Carl Kukkonen has been in Asia since January 3 and has met with potential electric power plant partners in Thailand January 3-9 and is currently in the Philippines. Dr. Kukkonen will also travel to the Company's Giant King GrassTM plantations in China afterwards.
Thailand has many biomass power plants today and government policy is encouraging a large expansion. Today's biomass power plants use agricultural waste from sugarcane and tapioca industries as well as field waste such as rice husks. The waste is either burned directly in a power plant or bio digested into biogas which fuels an engine generator set. There is strong competition for this agricultural waste and prices have risen dramatically. Several power plants have gone out of business and others are operating only part time because of the seasonality of agricultural waste which is only available after the food crop is harvested. New power plants cannot obtain bank financing without an assured supply of fuel for the life of the loan-6-15 years. Almost all agricultural waste today is sold on the spot market, and the prices are very volatile.
VIASPACE has been contacted by many companies in Thailand because Giant King GrassTM is a dedicated energy crop that would be an excellent fuel for electricity production. It is nonfood related and can be grown on marginal lands and therefore does not compete with land required for growing food. It can be harvested at any time-- just-in-time harvesting-- which solves the problem of seasonality. Giant King Grass can be easily grown by the power plant operator near the plant and it provides a guaranteed source of fuel which is a main requirement of banks before they can approve financing of the power plant. Because of its high yield, Giant King Grass can be produced and delivered to a co-located power plant at a price lower than is being paid today for agricultural waste.
Chief Executive Kukkonen reported, "Thailand is an excellent country for energy produced by Giant King Grass. The warm weather is perfect. I visited one potential growing site. I think the Giant King Grass yields should be even higher than we achieve in China. Many companies in Thailand need electricity and heat for their own factories. Plus the government is strongly encouraging clean energy from biomass and gives subsidies to companies that utilize biomass. I met with nine different companies in various industries including leaders of large companies. We have signed nondisclosure agreements and are proceeding forward. Recognizing the potential of Thailand, our friends at DP CleanTech of China have opened an office in Bangkok. They are rapidly expanding beyond their 20 biomass power plants in China and 30 power plants in Europe. Giant King Grass will burn well in their power plants. I am confident that VIASPACE will have good business opportunities in Thailand and other Asian countries."
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 Green Energy recently introduced its Green LogTM fireplace and campfire log product. For more information, please go to http://www.viaspace.com/ or http://www.viaspacegreenenergy.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.