WALNUT, Calif., March 31, 2014 /PRNewswire/ -- VIASPACE Inc.
(OTCQB: VSPC) today announced that the St. Croix government has
approved Tibbar Energy's permit to build a 7-megawatt biogas power
plant on the island of St. Croix. The government approved the
permit on Tuesday evening, March 25,
2014 during a meeting at the Virgin Islands Port
Authority.
The final approval came from the Virgin Island Department
on Planning and Natural Resources' Division of Coastal Zone
Management (CMZ). The CMZ decision was the last step that Tibbar
Energy needed in order to begin construction on its 7-megawatt
biogas power plant which will supply electricity created from
VIASPACE Giant King Grass to the Virgin Island Water and Power
Authority (WAPA) for at least the next 25 years.
Tania Tomyn, Tibbar Energy CEO,
stated, "Tibbar is thrilled about building its renewable energy
plant on St. Croix. We will provide 7 megawatts of base load power
for WAPA for the next 25 years from Giant King
Grass grown on the island. Tibbar is required to begin
producing power by December 2015
pursuant to the power purchase agreement. WAPA has no other base
load renewable power source and Tibbar's project will allow WAPA to
be compliant under the Renewable Portfolio Standard. Tibbar's
general contractor will begin site work as early as May
or June and the expected schedule is 18 months for both the farming
operations and the biogas plant. The project should create more
than 150 jobs during construction and 35 permanent jobs."
Mary Eckard, President of the St.
Croix Chamber of Commerce, was quoted, "The St. Croix Chamber of
Commerce is elated to hear of the creation of 150 construction jobs
and 35 permanent jobs on the island of St. Croix at a time when our
economy sorely needs jobs. We are also very excited and supportive
of anything that can meaningfully and immediately reduce our cost
of energy on the island of St. Croix."
Tomyn concluded, "I am proud to be a resident of St. Croix and
take part in developing a green energy source that will reduce
power costs, create jobs and is independent from fossil
fuels.''
Tibbar is also providing 1,000 bales of hay for the Virgin
Island Department of Agriculture for small farmer's livestock
throughout the territory. In addition to the electricity power
production, the power plant design process will produce hundreds of
tons of quality organic fertilizer per year. Tibbar has agreed to
provide this organic fertilizer to the Department of Agriculture
and to local farmers at no cost. Last July
2013, Tibbar executed with WAPA a 25 year Power Purchase
Agreement with a 5 year extension option for $0.245/kwh and at the same time executed an
interconnection agreement. The entire project is carbon neutral and
represents the Caribbean's first
continuously renewable, green energy, biomass power plant.
VIASPACE Chairman, Dr. Kevin
Schewe, commented, "We have come a long way in a relatively
short time frame with Tibbar Energy to use
VIASPACE Giant King Grass as a dedicated, renewable, green
energy crop for biogas electricity production on St. Croix. We are
proud of this partnership and extend our warmest congratulations to
Tibbar for achieving the final CMZ approval to start construction
of their 7-megawatt biomass power plant. We are excited to show the
world how well this renewable green energy power plant works
to create base load, 24/7 electricity using Giant King Grass while
simultaneously creating local jobs and organic fertilizer. We have
the 24/7 alternative energy solution for any tropical island nation
desiring carbon neutral freedom from more expensive
imported fossil fuels. VIASPACE and Giant King Grass can make
a giant difference for a greener world and we intend to accomplish
that objective with economic benefits to our partners and
shareholders."
About VIASPACE Inc.
VIASPACE grows renewable Giant
KingTM Grass as a low-carbon fuel for clean electricity
generation; for environmentally friendly energy pellets; and as a
feedstock for bio-methane production and for green cellulosic
biofuels, biochemicals and biomaterials. Giant King Grass is a proprietary, high yield,
dedicated biomass energy crop. Giant King
Grass when it is cut frequently at 4 to 5 feet tall is also
excellent animal feed. The USDA granted approval for planting Giant
King Grass throughout the US and cooperates in exporting by
performing the required inspections and issuing the phytosanitary
certificate needed for import into foreign countries. Giant
King Grass is being grown in
California, Arizona, Hawaii, St. Croix Virgin Islands, Nicaragua, South
Africa, China, Myanmar and Pakistan. 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 those 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, 2012, and
other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.