VIASPACE Signs Giant King Grass Contract in Philippines
WALNUT, Calif., May 30, 2013 /PRNewswire/ -- VIASPACE Inc.--- (OTCQB: VSPC) today announced that the company has signed a Giant King™ Grass supply contract with Sagay Central, Inc. of Bacolod City, Negros Occidental, Philippines. The initial payment has been received and the VIASPACE agronomist visited the Philippines recently to meet with Sagay.
Sagay Central is a sugar milling and sugar growing company in the center of the Philippines sugar industry. It produces 150,000 tons of sugar per year. Sagay Central was founded in 1945 and its products include raw sugar, washed sugar and specialty Muscavado sugar for the domestic market and export.
Mr. Romie Cortez, President of Sagay Central, Inc. said: "We are indeed very happy to be working with VIASPACE Inc. on this important biomass renewable energy project. This fits well with our goal of diversifying our sugar operations in order to remain competitive in this very difficult sugar business in the Philippines. We are looking forward to grow the VIASPACE Giant King Grass in our estate for energy production and for export to Korea and Japan."
VIASPACE CEO, Dr. Carl Kukkonen, stated, "Giant King Grass grows very well where sugarcane can be grown. The climate and soil in Negros Occidental are perfect for Giant King Grass. They have good rainfall and irrigation is available. The Philippines is strongly encouraging renewable biomass electricity. We look forward to a long partnership with Sagay Central."
VIASPACE Chairman, Dr. Kevin Schewe, commented: "We are delighted to announce this project and partnership with Sagay Central in the Philippines. Their expertise and experience with growing sugar cane makes them a perfect fit for growing Giant King Grass as a renewable, high-yielding, biomass platform. Although we are currently seen by investors as a penny stock Company, VIASPACE is actively working with many different international companies and continues to diversely expand its global footprint. This is an exciting time of rapid growth and setting the stage for the future of VIASPACE and its shareholders."
About VIASPACE Inc.
VIASPACE grows renewable Giant King™ 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 that does not compete with or displace food production. 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.