MARIETTA, Ga., April 16, 2012 /PRNewswire/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC), and its subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) today reported that since March 19, 2012, VIASPACE Director Dr. Kevin L. Schewe has purchased an additional 5 million VSPC common shares on the open market. Dr. Schewe has purchased 15 million shares since joining the VIASPACE Board of Directors in January 2012, and now preferentially holds a total of 92,000,000 VSPC common shares. Additionally, Dr. Schewe will be hosting the upcoming VIASPACE Board of Directors meeting to be held in Denver later this week.
Dr. Schewe commented: "At the Corporate level, we are actively engaged in the various stages of numerous Giant King™ Grass bioenergy and related projects on multiple continents. We anticipate that when these projects come to fruition and are sequentially launched, our Company value may appreciate. As a VSPC investor, I personally have taken the long-term view to establish my stake in the Company at a time when I believe the market undervalues us during this period when our seeds of success are being sown. We are in the bioenergy business sector for the long haul and plan to excel in the burgeoning bioenergy universe. In the meantime, we will take the necessary steps to strengthen our Company and continue our growth strategy. I believe that the investment community will soon recognize our resolve and commitment to become a leader in renewable bioenergy."
VIASPACE CEO Dr. Carl Kukkonen will be presenting in the Biomass Power Session: "Cultivating Electricity: Growing the Fuels that Feed Our Power Plants" at the 5th Annual International Biomass Conference & Expo in Denver, Colorado on Tuesday, April 17, 2012. Dr. Kukkonen's invited presentation is entitled: "Integrated Energy Crop Plantation and Biomass Power Plant." During the week of the conference, Dr. Kukkonen and VIASPACE Board Members will be meeting with potential project partners and other various interested parties from the biomass and bioenergy industry. Dr. Kukkonen commented, "This is an exciting time for VIASPACE and we have several new potential bioenergy projects we are planning in which we can take the lead role provided we have the financing in place. I will be making a separate presentation with our board members to representatives in the banking and financing industry during the week. I am very pleased with the current direction of the Company and our Board's support and strategic involvement. I will be providing an update regarding this week's board meeting in the near future." Dr. Kukkonen also noted that this press release is addressed from Marietta, Georgia, reflecting that the company has reduced overhead expenses by moving its main office to Georgia.
About VIASPACE Inc. 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 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 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, 2011, 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.
SOURCE VIASPACE Inc.