IRVINE, Calif., March 1, 2011 /PRNewswire/ -- VIASPACE Inc. (OTC Bulletin Board :VSPC ) and its subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board :VGREF ) announced incorporation of VIASPACE Green Energy Pte. Ltd. in Singapore. The new company is 100% owned by VIASPACE Green Energy Inc. No further information about the new company is being announced at this time.
Dr. Carl Kukkonen, chief executive of VIASPACE and the newly formed company, will travel to Asia to meet with potential customers and partners. He will also make an invited presentation at the "Bioenergy and Biorefinery Conference-- Southeast Asia 2011-- From Feedstock to Market" which will be held in Singapore March 23-25, 2011. Dr. Kukkonen's presentation is titled "Giant King Grass: A Dedicated Energy Crop for Bioenergy And Biorefineries."
On February 14, 2011, VIASPACE announced the very encouraging results of independent testing of Giant King Grass as a feedstock for biorefineries and biofuel plants using the fermentation method. The test data showed 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.
In addition, on February 14, 2011, Dr. Kukkonen reported: "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…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."
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 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.
SOURCE VIASPACE Inc.