WALNUT, Calif., Oct. 30, 2013 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) CEO, Dr. Carl Kukkonen, today provided an update on recent company business activities in Asia and the Pacific region. It complements two previous company updates.
Dr. Kukkonen reported, "VIASPACE is pursuing several potential business opportunities in the Asia-Pacific region including biomass power plants, biofuels and biochemicals, energy pellets and animal feed. On some projects, we are acting as a project co-developer and on others we are the strategic biomass supplier."
"Giant King Grass is growing well in Myanmar and we are working on two opportunities there. The first is a 1 MW anaerobic digestion power plant that would serve as a model for replication throughout the country -- particularly in remote regions that are not served by the national grid. The second is a larger direct combustion power plant that would be connected to the national grid or to supply electricity to an industrial zone. The Myanmar government has indicated that the national grid does not have enough electricity to supply its growing industrial zones and they must arrange for their own electricity. Myanmar has a great need for electricity and has the perfect climate, land and farmers to grow Giant King Grass."
"On a recent trip, I met with our power plant partners that have extensive experience in delivering turnkey biomass power plants. With our partners, we can offer an integrated Giant King Grass plantation and co-located power plant that delivers reliable 24/7 clean electricity at half the cost of electricity generated from diesel fuel or heavy fuel oil. During that time, I also met with a group that is pursuing cellulosic biofuels and biochemicals in Malaysia."
Kukkonen continued, "A U.S. based company developing power plant projects in the South Pacific has engaged VIASPACE to do Giant King Grass site suitability evaluations for two power plants. Under a contract, the VIASPACE agronomist spent a week in a country located in the South Pacific with the development team. The site evaluation report is currently in progress. If the sites are suitable, we expect to proceed with a project contract. Previously, the VIASPACE agronomist visited several growing sites for our customer in the Philippines. These sites are suitable for Giant King Grass, and the customer is awaiting an import permit to be issued by the Philippine government."
"Korea and Japan represent markets for Giant King Grass in Asia. Although these countries are too cold to grow Giant King Grass themselves, they are actively importing both energy pellets and animal feed. Korea is particularly aggressive in seeking out supply contracts in the warmer climates of the Asia-Pacific region and Korean parties that have contacted VIASPACE are interested in investing in renewable biomass projects."
"VIASPACE is in discussions with companies from Australia, India and Pakistan. A power plant and pellet mill project developer from Pakistan recently traveled to California to visit and tour the VIASPACE Giant King Grass propagation nursery. The proposed project would provide electricity for Pakistan and pellets for export. These negotiations are ongoing and progressing nicely."
Kukkonen concluded, "The Asia Pacific region represents a major business opportunity for VIASPACE. Many parts of the region have the warm weather, sunshine and water needed to grow Giant King Grass and have a great need for electricity at a cost lower than they are currently paying for electricity generated from oil. The more developed countries such as Japan and Korea also need biomass for clean renewable energy and for animal feed and are inclined to purchase these products from their geographic neighbors in the region which helps to minimize direct shipping costs."
VIASPACE Chairman, Dr. Kevin Schewe, commented, "We are making a major push to close additional deals in the Asia Pacific region and move our company forward on a global scale as rapidly as possible. This third CEO update highlights many of these opportunities and occurs as multiple negotiations are underway with clients and international financing entities. Our goal is to finish this year with a strong pipeline of new projects staged to produce significant future revenue starting in 2014."
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. Giant King Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. 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.