SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

VIASPACE CEO and Board Chairman Give Initial 2014 Shareholder Update

WALNUT, Calif., Jan. 6, 2014 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) CEO, Dr. Carl Kukkonen and Chairman of the Board, Dr. Kevin Schewe, today provided an update on recent company technical and business activities.

Dr. Kukkonen reported, "VIASPACE has been very busy since the last CEO update on November 4, 2012. I will give a summary of our recent business activities.

  • I spent time in Nicaragua working on the 12 MW Giant King Grass power plant project with AGRICORP. I met with senior management, our agriculture team, government officials and local power plant and grid experts. The financial model is complete, as is the summary business plan. We have also decided to embark on a parallel animal feed project with AGRICORP as well. The Giant King Grass is growing well and the propagation field planted at the end of May is ready for harvest and further propagation which will focus on animal feed.
  • Two potential customers from Costa Rica and Guatemala flew to Nicaragua to meet with me. Another potential customer from Panama also contacted me. All three have signed nondisclosure agreements.
  • I met with development banks in Washington, DC and received strong support for the project. We expect to get 70% of the project financing from an international development bank.
  • The Giant King Grass is growing very well in South Africa, and the project is moving toward the next stage.
  • We traveled to Washington, DC with a new partner for a Giant King Grass project in Pakistan to meet with investors. The partner has signed a nondisclosure agreement and is proceeding with a contract. We expect to be able to make an announcement on this soon.
  • VIASPACE Director, Mr. Khurram Irshad, a Pakistani American, has traveled to Pakistan twice and is working on another opportunity in Pakistan.
  • A potential customer in the Caribbean has requested a test of Giant King Grass for a biofuels project. VIASPACE harvested 3,000 pounds of Giant King Grass from our California nursery, and the US biofuels company on the East Coast picked up the Giant King Grass on December 30, 2013.  Test results should be available in 6 to 8 weeks.
  • I went to the University of California Davis and met with their forage expert to review Giant King Grass as an animal feed and received significant recommendations. One suggestion was to double check the results of our forage analysis. VIASPACE has previously utilized near infrared analysis (NIR) from the Dairy One Forage Laboratory in Ithaca, New York. UC Davis recommended a comparison of the NIR data with a full wet chemistry analysis, and also recommended a second laboratory, Cumberland Valley Analytical Services, which tested the same sample using both NIR and wet chemistry. Using both laboratories and both methods produced the same results and confirmed that Giant King Grass is an excellent animal feed.
  • Our VIASPACE partner in the Arizona animal feed project, Maricopa Bio Crops, came to California where we held technical and business meetings and met with a mechanical harvesting expert in the Central Valley. This project is moving forward efficiently to our mutual satisfaction and 2014 should prove to be a productive year with our partnership.
  • The Giant King Grass in Hawaii successfully completed its 12 month quarantine on December 20, 2013. VIASPACE is in discussions with potential Hawaiian partners. The Hawaii Department of Agriculture has allowed Giant King Grass to remain in their facility until our partnership status is finalized and the location has been determined.
  • VIASPACE has been invited to make a presentation on the Nicaragua 12 MW Power Plant project at the International Biomass Conference to be held in Orlando Florida March 24-26, 2014.
  • VIASPACE held a Board of Directors meeting on December 23, 2013."

Kukkonen concluded, "I believe that 2014 will be a very important and successful year for VIASPACE."

VIASPACE Chairman of the Board, Dr. Kevin Schewe, reported on recent business and technical activities, "At our December 23 Board of Directors meeting, the Board unanimously voted to increase the number of authorized shares by 20%. These are authorized shares and none of these shares have been issued. We have been very judicious with issuing limited additional shares; however, the number of issued shares was getting close to the number of authorized shares. The Board plans to minimize dilution consistent with operating the company, but needs the flexibility of additional authorized shares for continued growth, financing and partnerships."

Dr. Schewe continued, "Since October of 2012, when I became Chairman of the Board, I have loaned VIASPACE a total of $342,000 in the form of Senior Convertible Loans. As per our five-year, one million dollar loan agreement, I am able to convert these loans into common shares which I have immediately done after making the loans. I have made the immediate conversion with two motivations in mind. First, by converting to common shares, I have intentionally minimized additional debt on VIASPACE's books. Secondly, I personally believe that our share price is undervalued by the market and that my conversions to common shares will make a handsome return on investment in the future. I know of no better way to show and convey my confidence in the future of the Company."

Dr. Schewe concluded, "I now hold 152,500,472 VIASPACE common shares and have become the company's second largest common shareholder. As Chairman of the Board, I think and act on behalf of all common shareholders. I believe that 2014 will be a pivotal year for VIASPACE in both the green energy market and the animal feed market. We are a budding global company with aspirations to greatness and a terrific pipeline of projects to propel us in that direction, several of which are very close to reaching fruition. I am pushing our company, CEO and Board of Directors to make 2014 our breakout year for generating revenues with the goal to grow revenues year by year from here forward."  

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 clean energy crop. Giant King Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or [email protected]

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.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...