WALNUT, Calif., June 26, 2014 /PRNewswire/ -- VIASPACE Inc.
(OTCQB: VSPC) today issued an update regarding the progress of the
Tibbar Energy, Giant King Grass fueled, 7-megawatt biogas
power plant on the island of St. Croix. The power plant will supply
clean and renewable electricity created from VIASPACE Giant King
Grass (GKG) to the Virgin Island Water and Power Authority (WAPA)
for at least the next 25 years.
As previously reported, Tibbar Energy was issued a Virgin Island
Department on Planning and Natural Resources' Division of Coastal
Zone Management (CMZ) final permit for construction on April 2, 2014. The public comment period for the
Air Permit ended on June 23, 2014.
That permit request has now been submitted to the
Department on Planning and Natural Resources and should be
finalized soon.
Additionally, on June 23, 2014,
the Public Services Commission (PSC) held a public meeting on St.
Thomas where Tibbar Energy and WAPA together asked for final
approval of the agreements between WAPA and Tibbar including the 25
year (with 5 year option) Power Purchase Agreement executed
last July and the Interconnection Agreement to the power grid. That
approval was granted by the Commission.
Finally, this week, Tibbar Energy was also approved by the US
Virgin Islands Government Employee's Pension Fund (GERS) for a
$15 million dollar loan. Tania Tomyn, Tibbar Energy CEO, said, "We are
pleased to report that the project is moving through its final
permitting stage and design. We expect our Engineering, Procurement
and Construction (EPC) contractor to start construction this Fall.
Tibbar will be using local contractors to build the project under
Layne Christensen, our EPC. The
project will have a significant impact on the USVI by providing the
first base load renewable energy project that is independent of
imported fossil fuels."
VIASPACE Chairman, Dr. Kevin
Schewe, commented, "Our project with Tibbar Energy to use
Giant King Grass as a dedicated, renewable, green energy crop for
biogas electricity production on St. Croix is moving ahead as
planned and this is very exciting for all parties involved,
including VIASPACE and its shareholders. The $15 million dollar loan approved by the US Virgin
Islands Government Employee's Pension Fund is particularly
encouraging and speaks of the strength and commitment to the
Caribbean's first carbon neutral,
continuously renewable, green energy, biomass power plant. This
7-megawatt biomass power plant works to create base load, 24/7
electricity using dependable Giant King Grass feedstock
while simultaneously creating local jobs and organic fertilizer.
VIASPACE with Giant King Grass has the perfect green energy
solution for any tropical island destination desiring freedom or
less reliance on imported fossil fuels and we are busy proving this
with Tibbar Energy on the island of St. Croix."
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, Pakistan and Guyana. 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, 2013, and
other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.