VIASPACE Press Release
VIASPACE REPORTS INDEPENDENT TEST RESULTS FOR GIANT KING GRASS AS FEEDSTOCK FOR RENEWABLE BIO ETHANOL AND OTHER CELLULOSIC BIOFUELS
High Per-Acre Productivity of Giant King Grass Promises 40% Reduction in Biofuel Feedstock Costs
Irvine, California, USA-February 14, 2011-VIASPACE Inc. (OTC Bulletin Board: VSPC), and its subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) reported results of recent independent testing of Giant King Grass as a feedstock for producing second-generation cellulosic biofuels such ethanol and butanol, and biomass-based chemicals.
In summary, the test data shows that VIASPACE's proprietary Giant King Grass has essentially the same properties as corn stover and wheat straw, which are current leading candidate feedstocks for making not only cellulosic biofuels but also a wide range of biochemicals.
The detailed testing of Giant King Grass included sugar and lignin content, several levels of pretreatment, and enzymatic hydrolysis to sugars. The party that conducted the tests independently and at their own expense was not named.
VIASPACE Chief Executive Dr. Carl Kukkonen commented: "These initial results show that a ton of Giant King Grass can yield as much bio ethanol as a ton of corn stover. This validates Giant King Grass, a nonfood dedicated energy crop, as a competitive feedstock for producing cellulosic biofuels.
"Most importantly, an acre of Giant King Grass yields up to 10 times greater tonnage than an acre of corn stover, which is the stalk and leaves leftover from harvesting an acre of corn," Kukkonen continued, "With our high yield, we believe that Giant King Grass can reduce biofuel feedstock costs by up to 40%, even when compared to projected prices for corn straw as agricultural waste. As a result, Giant King Grass promises the cost-of-production breakthrough that has plagued the second-generation biofuels industry."
"Giant King Grass had already been shown to have excellent properties for direct combustion for electricity generation and for biogas production using anaerobic digestion," Kukkonen added. "This new data on its potential for biofuels places Giant King Grass in a unique position as a low-cost feedstock with universal application in the worldwide push toward clean electricity generation and production of cellulosic ethanol and other liquid biofuels."
Cellulosic ethanol is projected to cost $2.00-$2.25/per gallon, and global demand for cellulosic biofuels is expected to become a multibillion-dollar market in the next few years. Under the U.S. Renewable Fuel Standard, 12.95 billion gallons of renewable fuel were required be used in 2010, increasing to 36 billion gallons per year by 2022. Similar requirements are in place in Europe and many other 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. 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.