WALNUT, Calif., Oct. 27, 2014 /PRNewswire/ -- VIASPACE Inc. (OTC:
VSPC) today reported that Dr. Kevin
Schewe, has highlighted his second year as Chairman of the
Board and reviewed the major accomplishments of VIASPACE during the
last twelve months. He discusses the direction of the company and
the pathway to continued corporate growth, profitability and
increasing shareholder value.
Dr. Schewe started, "Two years ago, on October 2, 2012, I became Chairman of the
VIASPACE Board of Directors. In our press release that day, I said,
'Our shareholders will see a "new company" focused on providing
tangible results and timely information. We want to attract new
shareholders from around the world and reward our many long-term
loyal shareholders with a company keen on growth and increasing
shareholder value. Our shareholders will not have to wait long to
see a difference in the direction of this company'. Since that
time, we have kept our investor audience and shareholders regularly
informed with timely press releases and social media outreach
through our website and Facebook page. We have stayed keen on
growth and Giant King Grass (GKG) is being grown in
California, Hawaii, St. Croix U.S. Virgin Islands,
Nicaragua, South Africa, China, Myanmar, Pakistan, Guyana, Jamaica and the
Philippines. We have more new
geographic sites growing Giant King Grass to announce in
the near future. Developing and signing new contracts with
customers, obtaining phytosanitary certificates and
the required import/export approvals, harvesting and
properly shipping the Giant King Grass seedlings, starting a
propagation nursery to expand to a GKG plantation for biofuel
feedstock and/or animal feed all takes due time, labor, effort and
financing to accomplish. All of these things are a
prerequisite to increasing shareholder value and we have stayed
keenly focused on our plans in this regard.
"Two years ago, VIASPACE entered into a Giant King Grass license
agreement with its sister company, VIASPACE Green Energy (VGE).
VIASPACE was required to meet the following conditions in the first
24 months after the license agreement was entered into: Condition 1
required at least $200,000 in revenues during the first
24 months and Condition 2 required two or more third-party
locations growing at least 10 hectares of Giant King Grass in the
first 24 months. In addition, we had a contractual fulfillment to
pay legal fees to VGE related to separating the two companies
and establishing the license agreement. I am happy to report that
VIASPACE has achieved all of these license milestones.
The demand for the commercialization of Giant King Grass is
accelerating and is now very active and significant in Asia. We are working hard to build the brand
name of Giant King Grass in Asia
and elsewhere globally as well. VIASPACE has requested that
its sister company, VIASPACE Green Energy, assist in the
commercialization of Giant King Grass in Asia."
Mr. Sung Chang, President of
VIASPACE Green Energy, commented, "I am very pleased with the
progress that VIASPACE has made to develop and expand the
commercialization of Giant King Grass on a global basis over the
past two years. I look forward to us continuing to work together to
build and expand the brand name of Giant King Grass and its
commercialization as the world's highest yielding biomass
platform. There is demand for Giant King Grass, so we are
happy to assist VIASPACE in Asia
and any other markets."
Dr. Schewe continued, "During this past year, VIASPACE has gone
to great lengths to establish that Giant King Grass is an excellent
commercial source of animal feed with test results conducted and
confirmed by Dairy One in Ithaca,
New York, one of the world's premier forage testing
laboratories. Giant King Grass is
also now being grown and tested in a research collaboration
with the University of California
Agriculture and Natural Resources Division (UCANR). Giant King
Grass behaves like other forage crops in that younger shorter
cuttings are more tender with higher protein and lower fiber
whereas slightly older cuttings produce more dry matter lower in
protein but higher in fiber. Animals need both protein and fiber
and both types of animal feed are needed in the marketplace. The
data shows that Giant King Grass has nutritional value
nearly as good as alfalfa when cut short and better than oat or
sorghum hay when it is cut taller. Giant King Grass can be harvested 4-5 times per
year for animal feed, has extremely high yield and is
perennial (does not have to be replanted each year). This means
lower cost of production and higher profits for
the grower. The current demand for animal feed represents
a sales equivalent of U.S. $300
billion worldwide and is expected to steadily double between
now and 2050. VIASPACE has significant animal feed projects which
should begin to come to fruition in 2015
in Nicaragua and Pakistan.
"Our flagship bioenergy project is the 12MW Giant King Grass
fueled power plant in Nicaragua to
be co-located with a 2,100 acre Giant King Grass plantation
adjacent to the Miramontes rice plantation located on and irrigated
from Lake Nicaragua. Giant King
Grass has been growing well there since 2012. We have formed
a special purpose company named 'Energia Reino Verde' (in English,
"Green Kingdom Energy") to own and operate the GKG plantation and
12MW power plant there. The project will generate 84,000,000 kWh of
saleable electricity which will be transmitted on the national grid
and sold to both the grid and private customers. As co-developer,
VIASPACE both supplies GKG and is a partner in the sale of
electricity. The formal feasibility study is nearing completion and
VIASPACE's strategic goal is to assemble an engineering,
construction and financing team that we can work with on this
project and many others as a result of this
ground-breaking project. We are spending significant time and
resources to insure the success of this project and believe that it
will launch our company to new heights based on revenue projections
and other brand new projects that we expect it to spawn.
"VIASPACE partner Tibbar Energy USVI on the island of St. Croix
in the US Virgin Islands is expecting construction to begin in
early 2015 for the Giant King Grass fueled, 7-megawatt biogas power
plant. This project will be the Caribbean's first carbon neutral base load,
renewable power plant. VIASPACE will receive license revenues for
25 years (with a five year option) as the Giant King Grass on St.
Croix is harvested for renewable electricity. We also anticipate
that this project will serve as model for the Caribbean island region. We have Giant King
Grass growing very successfully in Pakistan under the direction of VIAPACE
Director, Mr. Khurram Irshad. The projects in Pakistan are both for animal feed and
bioenergy applications and the specifics of these projects will be
disclosed in 2015 when the customers are prepared to release the
information. We are very proud of the work that Mr. Irshad is doing
in Pakistan and look forward to
the book of business that he is creating there.
"We are continuing to advance our South Africa Giant King
Grass gold mining remediation project with Harmony Gold Mining
Company and Selectra which uniquely combines renewable GKG with
bioenergy production and land rehabilitation. We recently announced
Giant King Grass growing in Guyana
to create a plantation for pellet production and GKG growing in
the Philippines with Sagay Central
to extend their local power plant operation to sell electricity to
the grid. We also just announced Giant King Grass growing at Hawaii
Agriculture Research Center on Oahu and we are actively pursuing bioenergy
and animal feed projects with companies in Hawaii. All of these endeavors are positioned
to generate license revenues for VIASPACE in
2015 and 2016.
"Prior to becoming the VIASPACE Board
Chairman in October 2012, I purchased 100,000,000
VIASPACE (VSPC) common shares on the open market. Since October of
2012 and as of September 25, 2014, I
have invested an additional $525,000
in VIASPACE in the form of senior convertible loans. Every month
when I have made these loans to VIASPACE, I have immediately
converted the loans to VSPC common shares for two reasons. First, I
have purposely kept additional debt off our books, and second, I
believe that I am making a good investment. I now am the second
largest shareholder in the company and preferentially
hold more than 175,000,000 VSPC common shares which is more
than 10% of outstanding shares. My plan is to continue to support
the company and to continue to build my holdings of common shares.
We run a very tight ship at VIASPACE and when our license and power
plant ownership revenues begin to materialize; our profit margin
will speak for itself. I view the value of my common shares as
would any common shareholder and want these shares to appreciate in
value. I personally show my solid belief in this Company every
single month with my investments and immediate conversions to
common shares. We at VIASPACE are working hard every day to
create value for our shareholders and attract the interest of the
investment community."
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 9 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, Hawaii, St. Croix Virgin Islands, Nicaragua, South
Africa, China, Myanmar, Pakistan, Guyana, Jamaica and Philippines. 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.
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SOURCE VIASPACE Inc.