VIASPACE Inc., a clean energy company growing Giant King™ Grass as a renewable, low-carbon energy crop, announced today that its Chief Executive, Carl Kukkonen, was interviewed on CEONEWS.Tv. During the interview, Dr. Kukkonen reviewed the company’s renewable energy and fuel cell cartridge businesses and provided a brief update on the progress and outlook for Giant King Grass. A replay of the interview can be found at www.ceonews.tv/vspc.
Kukkonen reiterated that the company’s overall strategy for the clean energy markets is to develop and market consumables, such as renewable crops for producing low-carbon energy and fuel cartridges for micro fuel cells for portable electronic devices.
The fast growing and high yield characteristics of Giant King Grass make it an excellent renewable, low-carbon energy crop that can be burned as biomass, processed into pellets to replace coal or converted into cellulosic liquid biofuels called grassoline. Coal currently accounts for 41% of all electricity worldwide and represents a substantial market opportunity. Next year the company anticipates selling Giant King Grass pellets. Expecting new supply contracts and other large energy projects in 2010, Kukkonen stated that the company is expanding production capacity in China and seeking additional acreage and growing opportunities in Indonesia.
Kukkonen also reminded listeners that VIASPACE is partnered with Samsung to make fuel cartridges for fuel cells for notebook computers. Providing the consumable fuel cartridges, the company expects to generate a stream of recurring revenue.
Commenting on the expected listing of VIASPACE’s subsidiary, VIASPACE Green Energy (VGE), as a separately reporting public company, Kukkonen added that VGE will offer investors a pure play in Giant King Grass, whereas VIASPACE Inc. represents a diversified opportunity in renewable and clean energy. VIASPACE Inc. anticipates remaining the majority shareholder and to continue to consolidate VGE revenue and future earnings.
The Securities and Exchange Commission is currently in the process of reviewing the amended VGE Form S-1 filing. Their response is expected at any time. The amended filing is available at www.SEC.gov under VIASPACE Green Energy. VIASPACE Inc. is also continuing negotiations with the seller of Inter-Pacific Arts while awaiting the response from the SEC.
Kukkonen commented that while all sources of alternative energy are increasing in importance, only biomass such as Giant King Grass can be easily stored and capable of generating a continual supply of energy day and night, seven days a week, whether it is windy or calm.
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