VIASPACE Inc. and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTCBB: VGREF) today reported that Chief Executive Dr. Carl Kukkonen traveled to the Philippines and to the Giant King™ Grass plantation in January following his previously reported meetings in Thailand. Kukkonen discussed potential electric power plants and pellet mills that could be co-located with Giant King Grass plantations in several areas of the Philippines.
Kukkonen stated, “The Philippines has a significant shortage of power, and the government is encouraging clean renewable electricity from biomass. I met with the Philippines Department of Energy and with businessmen and local government officials. The Department of Energy will release its pricing for biomass electricity in the second quarter of the year. The weather in the Philippines is good for Giant King Grass; land is available and the potential for biomass is very high. Giant King Grass was well received.”
In China, VIASPACE made four separate visits to the Giant King Grass plantation and Green Log™ factory for potential customers. One group from Thailand is developing a 25 MW biomass power plant in Thailand to provide electricity and process steam for their processing factory which is currently under construction. A second group is examining Giant King Grass as a clean source of heat in the cement industry.
A large Chinese energy company planning to develop a 50 megawatt biomass power plant toured the Giant King Grass plantation as well. According to the press release, this company has many other operating power projects and the proposed biomass power plant, awaiting government approval, would be located near the current Giant King Grass plantation. The last group to visit the plantation was a one that currently operates an electric power plant in Cambodia. Their intention is to add additional capacity using biomass.
In closing, VIASPACE told investors it anticipates being able to announce more details about Giant King Grass business arrangements in the near future.
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