VIASPACE Giant King Grass Supply Contract Signed in Pakistan
WALNUT, Calif., Jan. 22, 2014 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) today announced that the company has signed a Giant King Grass Supply Contract with Winergy Pakistan Private Limited of Karachi Pakistan. VIASPACE has received the contract payment. VIASPACE Director Khurram Irshad, a Pakistani American, is also a director of Winergy, and Winergy will represent VIASPACE in Pakistan.
Mr. Khurram Irshad stated, "Winergy is setting up its own commercial Giant King Grass farms with its partners in Pakistan to provide a much-needed feedstock for both the power and animal feed industries. We expect to have our propagation nursery planted in February or March 2014, and begin commercial operations in the fall of 2014. Giant King Grass will be available to customers in several forms including hay and pellets."
Mr. Irshad continued, "Pakistan has a need for electricity, and Giant King Grass can be a cost-effective fuel for biomass power plants. It can also replace coal with a low-cost, carbon neutral alternative to protect our environment. Long-term supply agreements will be offered to industry for the supply of Giant King Grass. Animal feed is another important market in Pakistan, and we are anticipating trials with dairy farmers that will lead to long-term animal feed supply agreements."
VIASPACE CEO, Dr. Carl Kukkonen, reported, "We are fortunate to have Mr. Khurram Irshad as an active board member of VIASPACE. He and I have been in contact for 2 years--well before he joined the board. His business interests and contacts in Pakistan are crucial, and will allow VIASPACE to hit the ground running. I will be working closely with him on all of the technical aspects, so that he is fully capable of representing VIASPACE and Giant King Grass in Pakistan."
VIASPACE Board Chairman, Dr. Kevin Schewe, commented, "We have been actively working with Mr. Irshad on several projects and concepts prior to and since he joined our Board of Directors. He is a successful entrepreneur with a wealth of knowledge and connections to conduct business on behalf of VIASPACE in his native Pakistan. Our governments are mutually motivated to foster and financially support private business development in Pakistan and we hope to take advantage of the positive climate for new business development in Pakistan. This Giant King Grass supply contract with Winergy is another exciting, international development for VIASPACE and its shareholders and should move us forward in Pakistan with all due speed in 2014 and beyond, both for biomass fuel and animal feed applications."
About VIASPACE Inc.
VIASPACE grows renewable Giant KingTM Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King Grass is a proprietary, high yield, dedicated biomass clean energy crop. Giant King Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. The USDA granted approval for planting Giant King Grass throughout the US and cooperates in exporting by performing the required inspections and issuing the phytosanitary certificate needed for import into foreign countries. Giant King Grass is being grown in California, Arizona, Hawaii, St. Croix Virgin Islands, Nicaragua, South Africa, China and Myanmar. For more information, please go to 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 those 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, 2012, and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.
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