Viaspace Inc. is a clean energy company. Through its renewable energy subsidiary, the company grows a proprietary, fast-growing non-food grass used for producing low carbon renewable energy crop products such as green gasoline for transportation and other products which may be used as a coal-substitute to reduce carbon emissions from electric power plants.
The company recently announced that it had leased an additional 136 acres in Guandong Province, China. The new acreage has already been planted with Giant King Grass. Viaspace now has 250 acres under cultivation and is in negotiations to acquire substantially more land. The current acreage is expected to support immediate needs for prototypes, demonstrations to potential customers and joint venture partners, etc.
Over the next several quarters, the acreage will also serve as a nursery and source of seedlings for planting on additional land. Due to the fast growing nature of Giant King Grass and the company’s plans to propagate seedlings that could result in geometric increases in planting, Viaspace believes it can support the development of up to 25,000 planted acres.
Viaspace’s Giant King Grass can be directly combusted as biomass or it can be turned into products such as energy pellets. Included in the company’s plan are potential projects for 2010 involving 5,000 acres that would be projected to annually produce 200,000 tons of Giant King Grass pellets, which could potentially be sold for $20 million. These pellets are co-fired with coal at power plants and reduce carbon emissions from these plants.
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