PASADENA, Calif., March 18 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC
Bulletin Board: VSPC) today reported on the company's progress providing
clean energy solutions for the growing global renewable energy market.
Business unit VIASPACE Energy has launched a line of alternative energy
products, generated increasing revenue from sales of its new fuel cell and
lithium battery testing equipment, entered into an agreement to sell a new
line of batteries, established a global sales and distribution network for
its testing and fuel cell energy supply products, received inquiries from
major auto manufacturers, automotive test systems providers, fuel cell
developers and instrumentation companies, and identified new areas of
opportunity.
VIASPACE Energy is focused on the portable power marketplace, where
demand is quickly rising for advanced batteries and fuel cells to meet the
high energy density, size and safety requirements of portable electronics
and automobiles. Large electronics companies including Samsung, Toshiba,
Hitachi and NTT/Fujitsu have demonstrated notebook computers and cell
phones powered by direct methanol fuel cells. Global sales of hybrid
vehicles are estimated to increase to 1.1 million units by 2010. Battery
and fuel cell test equipment and specialized batteries are key elements of
the company's strategy targeting the $8.9 billion advanced battery market.
VIASPACE CEO Dr. Carl Kukkonen commented, "VIASPACE has achieved
significant progress in the renewable energy sector. We have established
ourselves as providers of leading edge clean energy solutions, delivered
fuel cell and battery testing products that outperform the competition, and
are now generating revenue from sales of those products while investigating
additional applications, products and technologies."
Dr. Kukkonen continued, "While we are currently bound by
confidentiality agreements preventing us from announcing company names or
specifics in many cases, VIASPACE is working closely with major auto
manufacturers, global electronics companies and fuel cell developers. These
potential customers are interested in access to our technology and products
to provide an edge over their competitors. The outlook for our VIASPACE
Energy division is extremely bright as we continue to penetrate the rising
market for clean energy products."
VIASPACE's newly launched VIASENSOR HS-1000 Humidity Sensor product is
finding significant traction in the marketplace with sales to numerous
government laboratories, universities and fuel cell companies in the United
States, Europe and Asia. Recently announced customer wins include Ballard
Power Systems, FuelCellMaterials.com, Tokyo Institute of Technology,
Wonatech, Scitech, Tokai Bussan Co. Ltd., Hephas Energy Co., Ltd., Energy
Research Centre of the Netherlands and Rotronics. FuelCellMaterials.com
placed an initial $200,000 order and signed an exclusive distribution
agreement for VIASPACE Energy products in the Americas. VIASPACE's
proprietary leading edge HS-1000 is the first accurate real-time, high
temperature, laser-based humidity measurement system for hydrogen fuel
cells.
VIASPACE has been asked by a major global manufacturer of measurement
systems to provide a quote for a very large number of VIASENSOR HS-1000
units to operate in the control system of future fuel cell powered
automobiles. Additional validation of the humidity sensor's quality and
performance was received when the HS-1000 was extensively tested by one of
the world's largest automotive companies and compared to competing
approaches. The VIASENSOR HS-1000 beat the competition in a series of
rigorous, third party administered tests, and that major automotive company
placed an order. That company has potential requirements for hundreds of
VIASENSORS.
VIASPACE has also licensed and commercialized a new battery testing
technology from Caltech to measure the health of rechargeable batteries.
The BA-1000 Battery Electrode Health Analyzer product was introduced in
February 2008 with the first sale to the DOE's Pacific Northwest
Laboratory. The company believes this revolutionary product will
significantly aid in the effort to develop new, safe rechargeable batteries
for mobile phones, notebook computers, portable electronics and hybrid and
electric vehicles.
Adding a significant new source of revenue to its clean energy
business, VIASPACE announced in a recent press release that it has
contracted to market and distribute a line of battery products from Yoku of
Hong Kong, with a factory in Zhangzhou, a major manufacturer of lithium
polymer batteries and battery packs. The lithium polymer batteries are a
form of lithium ion batteries that provide enhanced safety and sizing
flexibility for high power applications including electric vehicles.
VIASPACE subsidiary Direct Methanol Fuel Cell Corporation (DMFCC) is
engaged in developing, manufacturing, distributing and obtaining safety
certification for disposable methanol fuel cartridges to provide the energy
source for fuel cell-powered products including mobile phones and laptops.
It is estimated that each fuel cell powered computer or cell phone will use
over 70 cartridges over its estimated three-year lifetime. It is projected
that over 3 billion cartridges will be used annually at a retail price of
$3-$5 each. This is a $9 to $15 billion dollar market that does not exist
today, one in which VIASPACE is expected to play a major role. DMFCC has
worked alongside major corporations including DuPont, Toshiba, NEC, Hitachi
and Samsung on international committees to define safety standards for fuel
cells and fuel cartridges and has incorporated those standards into its
designs. The company has also established a global manufacturing and
distribution network with key partners in the U.S. and Asia.
VIASPACE has recently provided fuel cell cartridge samples to one of
the largest global electronics companies. These samples were designed by
DMFCC and manufactured by Japanese partner firm, the Sato Group. The
cartridges met the customer's specifications and were incorporated in their
fuel cell powered systems for corporate evaluation. DMFCC is actively
working on projects with multiple fuel cell manufacturers in Korea, Japan,
Singapore and other countries to provide fuel cartridges.
VIASPACE Energy is also exploring new opportunities including power
supplies for electronic bicycles, power tools and medical equipment, hybrid
(fuel cell and lithium battery) power technology, and measurement of water
vapor and carbon dioxide in gasoline and diesel powered automobiles to
enable measurements that could improve fuel economy and reduce emissions.
About VIASPACE: Originally founded in 1998 with the objective of
transforming proven space and defense technologies from NASA and the
Department of Defense into hardware and software solutions that solve
today's complex problems, VIASPACE benefits from important patent and
software licenses from Caltech, which manages NASA's Jet Propulsion
Laboratory. For more information, please visit our website at
http://www.VIASPACE.com. For investor relations contact Dr. Jan
Vandersande, Director of Communications, at 800-517-8050 or
IR@VIASPACE.com. For media relations contact Dr. Carl Kukkonen, CEO, at
626-768-3360.
This news release includes forward-looking statements. These
forward-looking statements relate to future events or our 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 any future results, levels
of activity, performance or achievements expressed or implied by these
forward-looking statements. Such factors include the risks outlined in our
periodic filings with the U.S. Securities and Exchange Commission,
including our Annual Report on Form 10-KSB, as amended, for the fiscal year
ended December 31, 2006, and our Quarterly Report on Form 10-Q for the
period ended September 30, 2007, as well as general economic and business
conditions, the ability to acquire and develop specific projects and
technologies, the ability to fund operations, changes in consumer and
business consumption habits, and other factors over which VIASPACE has
little or no control.
SOURCE VIASPACE Inc.
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Related links:
http://www.VIASPACE.com
CONTACT:
investor relations, Dr. Jan Vandersande,
Director of Communications, 1-800-517-8050, IR@VIASPACE.com, or
media relations, Dr. Carl Kukkonen, CEO, +1-626-768-3360, both of
VIASPACE Inc.
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