About VIASPACE

VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. Through its majority-owned subsidiary VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low-carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels, and for other low-carbon, renewable energy products. VIASPACE Green Energy recently introduced its Green Log™ fireplace and campfire log product.  VIASPACE Green Energy also has a business unit that manufactures quality framed art for retailers in the United States.  

1. VIASPACE Green Energy (VGE) – Renewable Energy

The VIASPACE Green Energy majority-owned subsidiary grows and markets proprietary Giant King Grass, a renewable cellulosic non-food resource for: 1) producing low-carbon liquid biofuels for transportation, such as cellulosic ethanol, methanol and green gasoline (“grassoline”); and 2) a full or partial substitute for coal to reduce carbon emissions from electricity-generating power plants.  It can also be used to generate bio methane through anaerobic digestion, and Green Log firelogs made from Giant King Grass have just entered the US marketplace.

Giant King Grass is a perennial fast-growing plant that grows up to 4 m tall and can be harvested several times a year in tropical and subtropical regions with yields up to 156 metric tons (wet) per acre per year. Giant King Grass has much higher yield than competing grasses such as switchgrass and miscanthus.

 

VIASPACE Green Energy has 279 acres of Giant King Grass under cultivation on its plantation of leased land near Guangzhou in Guangdong province in southern China. Initial harvests have been used as nursery stock to provide seedlings, which have supported expansion of planted acreage. This expanded nursery is capable of providing seedlings that could develop more than 10,000 acres of Giant King Grass fields. 

 

Multiple independent analyses conducted by potential customers show that Giant King Grass has excellent energy content of 7,900 BTU per bone-dry pound and also has superior methane production in bio-digesters of more than 1.6 standard cubic feet of methane per pound of fresh grass. Its physical properties are similar to corn straw (stover), and Giant King Grass is suitable to be burned directly in biomass power plants and made into energy pellets that can be co-fired with coal in existing coal-fired power plants.  Giant King Grass can also be used to produce second-generation cellulosic biofuels that do not use food crops such as corn for their feedstock.

Giant King Grass is considered a renewable and environmentally friendly alternative to fossil fuels. Burning grass or a biofuel made from grass releases carbon dioxide into the atmosphere. However the next crop of grass 60 days later absorbs the carbon dioxide during its growth and the process can be carbon neutral over a 60 day growing cycle. Additional carbon dioxide can be released by the trucks that transport the grass and the processes used to make the biofuel. If these are carefully managed, Giant King Grass can be a very low carbon fuel source.

Giant King Grass is also a potential replacement for food crop-based energy sources like corn. The US Department of Agriculture estimated that one third of the US corn crop was dedicated to ethanol production. The World Bank is concerned that using biofuels made from food is increasing food prices and causing world hunger. Since grass is a non-food crop, production of biofuels made from grass should have much less impact on food crops and therefore food prices. Several countries including China have banned biofuels made from food crops.

Transportation applications such as automobiles and trucks require liquid fuels which are easy to store on the vehicle. Giant King Grass can be made into liquid biofuels by gasification or by advanced enzyme fermentation. Biofuels made from nonfood crops are called cellulosic biofuels because the cellulose content is used rather than the sugar content in food crops. Liquid biofuels made from grass have been termed “GRASSOLINE”.  Giant King Grass is a feedstock for cellulosic biofuels.

Giant King Grass is also considered a viable alternative to coal for firing electrical energy generating plants. Many existing coal-fired power plants can be straightforwardly modified to accept up to 30% grass as the feedstock in place of coal in a process referred to as co-firing. This would reduce the carbon emissions of the power plant immediately and is the most near-term solution to beginning to clean up coal-fired power plants. It is a proven approach and available now, whereas other clean coal technologies such as carbon sequestration are years away and very expensive.

A growing trend is toward simply burning 100% biomass in the form of agricultural waste in power plants that have been specially designed to use agricultural feedstock--whether agricultural waste or dedicated crops like grass--instead of coal or fossil fuel. Dedicated biomass power plants are encouraged and receive substantial government subsidies in the US, China and other countries. More than 20 dedicated biomass power plants have built in China over the last three years. Coal power plants in the US are being converted to biomass. These biomass power plants use agricultural waste such as corn straw, wheat straw, cotton waste and wood chips as their fuel today. There are major problems using agricultural waste because the fuel supply type and quantity changes with the seasons; it is not consistent in quality, and the sources are not reliable. Biomass power plants would like to have a dedicated energy crop such as Giant King Grass to meet at least one half of their fuel needs and provide a consistent and reliable source.

A single modest 30 megawatt grass-powered electricity generating plant would require approximately 600 tons of grass every day to meet 100% of its fuel requirements. In a tropical or subtropical area this could be produced on approximately 3500 acres of land. In China, 30 megawatts of electricity can supply the electricity needs for approximately 200,000 households.

VIASPACE is pursuing joint ventures with well-known and reliable customers that have a long-term need for Giant King Grass as a fuel or feedstock.  Using this focused approach, rather than simply selling seedlings to all parties, the Company expects to develop profitable business relationships that hold potential for continuing for decades.

 VIASPACE is pursuing business opportunities in China, Indonesia, Thailand, Philippines, Singapore, South America, India, Africa and other regions. The trend to cellulosic low-carbon biofuels is attracting strong political support. The Obama administration is calling for a national low-carbon fuel standard, and recent landmark legislation in California to reduce carbon emissions "would boost the use of biofuels" by "spurring investment in cellulosic low-carbon fuels made from switch grass and other non-food plants.

Green Log™ Fireplace and Campfire Logs

Product Features

·         Made from Giant King Grass, a 100% renewable resource

·         Uses natural binder and fire starter

·         Lights fully in less than 3 minutes

·         Has a zero carbon footprint

·         Burns for up to 5 hours

·         Has campfire smell without additional chemicals

Specifications:

·         Each log weighs 5 lbs (2.27 kg)

·         5 lb. logs are sold in a 6-log, 30 lb. (13.6 kg) carton

2. Direct Methanol Fuel Cell Corp. (DMFCC) – Alternative Energy

Direct Methanol Fuel Cell Corporation develops and manufactures disposable methanol fuel cartridges that provide the energy source for fuel cell powered notebook computers, mobile phones, military equipment and other applications being developed by electronics OEMs, such as Samsung and Toshiba, and other companies.

Fuel cells are electrochemical devices that efficiently and cleanly convert a fuel, such as methanol, into electricity without burning. The fuel cell is permanently built into a notebook computer in the space where the battery is now. A small disposable fuel cartridge is inserted into the computer which provides the fuel for the fuel cell.

The advantages of a fuel cell are longer-lasting power compared to a rechargeable battery, instantaneous recharging by simply replacing the disposable fuel cartridge, non-toxic disposal, and light weight. As a result, methanol fuel cells are being developed by many companies as a new, clean alternative power source for portable electronic devices. Fuel cells offer freedom from the electrical grid which is important for many business and professional applications.

Fuel cell powered notebook computers and mobile phones are projected to use approximately 100 disposable fuel cartridges during their workable lives and represent a recurring and potentially very large revenue stream. It has been projected that up to 22% of notebook computers and 2.5% of mobile phones will be powered by fuel cells in the future, which would result in demand for more than three billion cartridges per year.

Methanol fuel cells and fuel cartridges are efficient, clean and safe and have been approved to be carried on airplanes by the US Department of Transportation and The International Civil Aviation Organization. These approvals are expected to encourage faster and more widespread adoption of fuel cells for portable electronic devices.

Business Partners

Direct Methanol Fuel Cell Corporation and its partners are working to develop the worldwide infrastructure to manufacture, fill and distribute disposable methanol fuel cartridges. This global capability is needed to support widespread adoption of fuel cell powered devices. DMFCC’s cartridge manufacturing partners are experienced and trusted suppliers to a wide range of industries including electronics OEMs.

DMFCC is partnered with Samsung and other companies engaged in fuel cell development and applications. To support the ongoing needs of our customers—including commercial introduction of liquid fuel cells as an economical and environmentally friendly alternative to traditional batteries—DMFCC is forming a worldwide supply infrastructure of cartridge manufacturing, methanol filling and distribution.

3. Ionfinity – Monitoring and Detection Systems

Ionfinity is developing next-generation sensors based on new mass spectrometry (MS) technology that can detect and analyze extremely small quantities (or residues) of chemicals and hazardous materials such as explosives, toxic gases, chemical/biological weapons and drugs.

And with the incorporation of Ionfinity miniaturization technology, new portable monitoring devices and detection systems are being developed for homeland security, defense, biomedical, industrial process control, agricultural and environmental monitoring and safety applications.

Product Development 

Ionfinity is developing a compact, stand-alone chemical-sensing device consisting of: 1) a new and powerful detector called a Differential Mobility Spectrometer; 2) a non-radioactive ionization method that does not fragment or multiply-ionize sampled specimens; and 3) a micro-gas chromatograph for confirmation and enhanced detection capability. The device will detect chemicals and materials of interest at ppt (parts-per-trillion) to ppb (parts-per-billion) levels after 6 seconds. The sensor is self contained with respect to power and communications.

4. Inter-Pacific Arts

Inter-Pacific Arts (IPA) manufactures and wholesales high quality framed art to U.S. retailers.  On January 24, 2011, VSPC announced that IPA has received new customer orders for framed art for delivery in the first half of 2011.  The company expects first quarter and second quarter revenues for 2011 to exceed 100% of 2010 levels.  Revenues were approximately $1.4 million for IPA for the first half of 2010, so VSPC forecasts IPA revenues of at least $2.8 million for the first half of 2011.  Business is stronger for IPA as the U.S. economy seems to be getting better.

IPA designers work with buyers at major retailers to select custom combinations of art, mattes and frames to assure that IPA customers have a unique combination of art and frame that is not available to other retailers. All IPA artwork consists of genuine prints purchased in the U.S. or Europe, and all royalties are fully paid. The prints are then shipped to IPA’s factory in Guangzhou, China, where the custom matting and framing are completed under strict quality controls. IPA places clear plastic corner protectors on each frame to prevent damage. These plastic protectors do not obscure the corners of the art as do cardboard corners and allow full visibility in rack displays. The minimum order is 100 pieces of the same design, although typical orders exceed 500 pieces. Containers of framed artwork are shipped weekly from IPA China.

IPA can accommodate requests for custom framing of any size and format and will matte and frame a customer's proprietary art upon request.

Recent Key Announcements

Monday, February 7, 2011 – VIASPACE Giant King Grass Business Meetings in Philippines and China - Irvine, CA USA - VIASPACE Inc. (OTC Bulletin Board: VSPC), and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) reported that Chief Executive Dr. Carl Kukkonen traveled to the Philippines and to the Giant King™ Grass plantation in January following his previously reported meetings in Thailand.

Kukkonen discussed potential electric power plants and pellet mills that could be co-located with Giant King Grass plantations in several areas of the Philippines.  Kukkonen visited potential growing sites on Luzon near Manila and in Mindanao. 

Kukkonen stated, “The Philippines has a significant shortage of power, and the government is encouraging clean renewable electricity from biomass.  I met with the Philippines Department of Energy and with businessmen and local government officials.  The Department of Energy will release its pricing for biomass electricity in the second quarter of the year. The weather in the Philippines is good for Giant King Grass; land is available and the potential for biomass is very high.  Giant King Grass was well received.”

In China, VIASPACE conducted four separate visits to the Giant King Grass Plantation and Green LogTM factory for potential customers.  Two of the groups were from Thailand and their due diligence visits followed business meetings held earlier in January in Bangkok.  One group is developing a 25 MW biomass power plant in Thailand to provide electricity and process steam for their processing factory which is under construction. The second group from Thailand is examining Giant King Grass as a clean source of heat in the cement industry.

A large Chinese energy company planning to develop a 50 megawatt biomass power plant toured the Giant King Grass plantation.  The company has many other operating power projects and the proposed biomass power plant, awaiting government approval, would be located near the current Giant King Grass plantation. The last visitor to the plantation was a company that currently operates an electric power plant in Cambodia that plans to add additional capacity using biomass.

VIASPACE expects to be able to announce more details about Giant King Grass business arrangements in the near future.

Monday, January 31, 2011 – VIASPACE Subsidiary Exhibits at West Coast Art and Frame Show in Las Vegas - IRVINE, Calif. (PRNewswire) - VIASPACE Inc. (OTC Bulletin Board: VSPC), and its renewable energy subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) announced that its Inter-Pacific Arts business unit (IPA) participated in the West Coast Art & Frame Show held in Las Vegas, NV from January 24-26, 2011. IPA exhibited its products at the trade show which is an annual gathering of the major players in the art and frame industry. The company continues to actively market its high quality framed art, and the products displayed at the show, including framed art and collages, received high remarks from potential customers and partners.

Mr. Sung Chang, President of VIASPACE Green Energy and IPA stated, "The trade show was a great way for IPA to show what it is capable of delivering to new potential customers within the industry. It was the first time IPA displayed its products at the West Coast Art & Frame Show. I am encouraged by the positive comments that we received about our products and the future business relationships that will form because of the show."

Chief Executive Carl Kukkonen added, "The framed art business may seem incongruous with our Giant King Grass business in China, but they are quite synergistic. IPA is experienced in business operations and procurement in China and shipping products to the US.  VIASPACE is able to keep overhead costs at a minimum by sharing resources between the two business units. It is a win-win situation. The framed art business is profitable and growing."

IPA previously announced that its Inter-Pacific Arts business unit has received new orders for framed art for delivery in the first half of 2011.  The company expects first and second quarter revenues for 2011 to exceed 100% of 2010 levels. Revenues were approximately $1.4 million for IPA for the first half of 2010, so VSPC forecasts IPA revenues of at least $2.8 million for the first half of 2011.  Business is stronger for IPA as the U.S. economy seems to be getting better.

IPA manufactures and sells high quality framed art to U.S. retailers.  IPA works with buyers at major retailers to select custom combinations of art, mattes and frames to assure that each customer receives a unique combination of art and frame that is not available to other retailers.  IPA only works with container-load customers, and the containers of framed artwork are shipped from the IPA factory in China.

IPA can accommodate requests for custom framing of any size and format and will matte and frame a customer's proprietary art upon request.

Monday, January 24, 2011 – VIASPACE Forecasts 100% Increase In Revenues From Framed Artwork Business - VIASPACE Inc. (OTCBB: VSPC), and its renewable energy subsidiary VIASPACE Green Energy Inc. (BB: VGREF) announced that its Inter-Pacific Arts business unit has received new customer orders for framed art for delivery in the first half of 2011.  The company expects first quarter and second quarter revenues for 2011 to exceed 100% of 2010 levels.

Inter-Pacific Arts (IPA) manufactures and sells high quality framed art to U.S. retailers.  IPA works with buyers at major retailers to select custom combinations of art, mattes and frames to assure that each customer receives a unique combination of art and frame that is not available to other retailers.  IPA only works with container-load customers, and the containers of framed artwork are shipped from the IPA factory in China.

IPA can accommodate requests for custom framing of any size and format and will matte and frame a customer's proprietary art upon request.

Chief Executive Carl Kukkonen reported, "The framed art business is very important to VIASPACE, and we are proud of the products we produce for our U.S. customers, which are well known retail chain stores.  The orders for 2011 thus far are very encouraging and indicate significant business growth over 2010. Thorough and extensive quality audits are conducted regularly by customers, and IPA has earned a reputation to produce excellent quality framed art."

Kukkonen continued, "The framed art business may seem incongruous with our Giant King Grass business in China, but they are quite synergistic. IPA is experienced in business operations and procurement in China and shipping products to the U.S.  VIASPACE is able to keep overhead costs at a minimum by sharing resources between the two business units. It is a win-win situation. The framed art business is profitable and growing.  I also conducted customer tours of the Giant King Grass plantation during my trip and will report on that in the near future."

Tuesday, January 18, 2011 - VIASPACE CEO Meets With Potential Partners in Thailand - VIASPACE Inc. and its renewable energy subsidiary VIASPACE Green Energy Inc. announced that Chief Executive Officer Dr. Carl Kukkonen has been in Asia since January 3 and has met with potential electric power plant partners in Thailand January 3-9 and is currently in the Philippines.  Dr. Kukkonen will also travel to the Company's Giant King Grass™ plantations in China afterwards.

Thailand has many biomass power plants today and government policy is encouraging a large expansion. Today's biomass power plants use agricultural waste from sugarcane and tapioca industries as well as field waste such as rice husks.  The waste is either burned directly in a power plant or bio digested into biogas which fuels an engine generator set. There is strong competition for this agricultural waste and prices have risen dramatically. Several power plants have gone out of business and others are operating only part time because of the seasonality of agricultural waste which is only available after the food crop is harvested.  New power plants cannot obtain bank financing without an assured supply of fuel for the life of the loan—6-15 years. Almost all agricultural waste today is sold on the spot market, and the prices are very volatile.

VIASPACE has been contacted by many companies in Thailand because Giant King Grass™ is a dedicated energy crop that would be an excellent fuel for electricity production. It is nonfood related and can be grown on marginal lands and therefore does not compete with land required for growing food.  It can be harvested at any time-- just-in-time harvesting-- which solves the problem of seasonality. Giant King Grass can be easily grown by the power plant operator near the plant and it provides a guaranteed source of fuel which is a main requirement of banks before they can approve financing of the power plant. Because of its high yield, Giant King Grass can be produced and delivered to a co-located power plant at a price lower than is being paid today for agricultural waste.

Chief Executive Officer Kukkonen reported, "Thailand is an excellent country for energy produced by Giant King Grass. The warm weather is perfect. I visited one potential growing site. I think the Giant King Grass yields should be even higher than we achieve in China.  Many companies in Thailand need electricity and heat for their own factories. Plus the government is strongly encouraging clean energy from biomass and gives subsidies to companies that utilize biomass. I met with nine different companies in various industries including leaders of large companies.  We have signed nondisclosure agreements and are proceeding forward. Recognizing the potential of Thailand, our friends at DP CleanTech of China have opened an office in Bangkok.  They are rapidly expanding beyond their 20 biomass power plants in China and 30 power plants in Europe. Giant King Grass will burn well in their power plants.  I am confident that VIASPACE will have good business opportunities in Thailand and other Asian countries."

Wednesday, December 15, 2011 - CEO Video on Giant King Grass Now Available Online - Presentation at World Congress on Industrial Biotechnology, Dalian China  - VIASPACE Inc. and its renewable energy subsidiary VIASPACE Green Energy Inc. announced that a video of the presentation made by Chief Executive Dr. Carl Kukkonen at the World Congress on Industrial Biotechnology held July 25-27, 2010 in Dalian China was released yesterday by the congress organizers.  The presentation, entitled Giant King™ Grass: High Yield Feedstock for Biofuels, Biogas, Biochemicals and Fuel for Electricity Production, was previously posted on the VIASPACE website www.VIASPACE.com.  The video has not been available until now and can be accessed at the website of the congress organizers.

http://www.mannovas.com/bitcms/VideoDetail/...

Access to the video requires registration on the website which is free at www.mannovas.com.

The video provides a good example of how VIASPACE introduces Giant King Grass to an international technical audience. Dr. Kukkonen stated, "You can see me tell the VIASPACE Giant King Grass story in a live context. I wish I could meet in person with all of our investors and new potential customers. Let me know how you like the video and maybe we can do more in the future.  Send an e-mail to IR@VIASPACE.com."  

Kukkonen added, "VIASPACE is involved in confidential negotiations regarding Giant King Grass. We will make a public announcement when appropriate."

Tuesday, November 30, 2011 - Green Log Fireplace Logs Now for Sale in US AVAILABLE IN LIMITED AREAS AND ON INTERNET -  VIASPACE Inc., announced that its renewable energy subsidiary VIASPACE Green Energy Inc. has shipped a 40 foot container of Green Logs to its US distributor, and the container arrived in Georgia last week.

Green Logs are made from VIASPACE Giant King Grass, a 100% renewable resource, and the carbon dioxide emissions produced by burning Green Logs are reabsorbed by the next Giant King Grass crop growing 120 days later-- plants breathe and store carbon dioxide.  Data and pictures of Giant King Grass, the factory and Green Logs can be viewed at http://www.viaspacegreenenergy.com/green-logs.php, which also gives contact information for the distributor.

Chief Executive Dr. Carl Kukkonen commented, "Most of this container has already been pre-sold to retailers and regional distributors wanting to run a test market for the logs this winter. Our main distributor has already begun to ship out pallets, and we hope to see Green Logs on retail shelves soon."

Some of the inventory received was also set aside for online sales. Consumers can now buy Green Logs by the case (six-5lb Green Logs) on Amazon.com and eBay. Kukkonen stated, "The online sales should help expand the exposure of our Green Log brand. We hope consumers that buy our Green Log will enjoy their experience with our product and recommend it to friends and family."                     

The links to the Amazon.com and eBay pages are below:

Amazon.com -Green Logs at Amazon

eBay.com - Green Logs on EBay

According to a previous statement by VIASPACE, manufactured fire logs represent a $400 million annual market in North America. With more than 100 million logs--made primarily of wood chips and sawdust--burned each year, the company sees a substantial opportunity for Green Logs, which offer the most environmentally friendly manufactured log available. Green Logs also generate greater heat output than conventional logs, and its non-chemical, natural campfire aroma makes it an even more appealing alternative.

Monday, November 29, 2011 - DTC Approves VIASPACE Green Energy Shares for Electronic Trading on the OTC Bulletin Board - Allows Shareholders to Buy and Sell VGREF Stock Electronically through Brokers  - VIASPACE Inc. announced that its renewable energy subsidiary, VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) has been granted eligibility status by the Depository Trust Company (DTC), which allows shares to be bought and sold with rapid electronic clearing.  The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) had previously granted their approval for trading.

The DTC provides the electronic basis through which stock sales bought and sold through brokers are transferred from the seller's brokerage account to the buyer's account.

Chief Executive Dr. Carl Kukkonen commented, "DTC eligibility allows simple low cost electronic transactions to trade VIASPACE Green Energy shares.  This is an important step in increasing our shareholder base and a significant milestone for the Company."

VIASPACE Green Energy is a majority owned (75.7%) subsidiary of VIASPACE Inc. Both companies are publicly listed on the OTC Bulletin Board. VIASPACE (VSPC) has been listed and fully reporting to the SEC since June 2005.  VIASPACE Green Energy (VGREF) has been listed and reporting since January 2010, and the company has now received approval of electronic clearing by the DTC. VIASPACE Green Energy has 8,600,000 shares issued and outstanding.

Tuesday, November 16, 2011 - New VIASPACE Green Energy Inc. Website

Features Giant King Grass Capabilities and Applications - VIASPACE Inc. announced that its renewable energy subsidiary, VIASPACE Green Energy Inc., launched its new website focusing on Giant King Grass. The website can be accessed at www.viaspacegreenenergy.com or  www.VIASPACE.com.

Chief Executive Dr. Carl Kukkonen commented, "The new website is designed to answer many customer and investor requests for information about what Giant King Grass can do; what are its applications; and its advantages over other energy crops. We worked to present all of this information in one easily accessible website.  We also have additional detailed technical information and test results that are available to qualified potential customers under confidentiality agreements."

The website covers the VIASPACE Green Energy business plan and strategy, the role of biomass in renewable energy, the characteristics of Giant King Grass including its extremely high yield and excellent energy content. Giant King Grass is a tropical and subtropical perennial grass that yields 45 dry tons per acre with energy content of 7900 BTU per pound.  Giant King Grass has much higher yield than other energy crops, and therefore can be produced at much lower cost. It is not a food crop, and can be grown on marginal land that is not being used for agriculture today. Giant King Grass can be sustainably grown and does not sacrifice food for fuel. It is low carbon-- nearly carbon neutral--and renewable.

VIASPACE Green Energy's website explains the multiple applications for Giant King Grass including fuel for biomass power plants, and feedstock for biomass pellets, cellulosic liquid biofuels, and bio-methane. Kukkonen stated, "We want to show people how diverse Giant King Grass is by explaining its many applications, and how much more advantageous it is to use Giant King Grass in producing energy compared to other energy crops out there."

The website also features VIASPACE Green Energy's first commercial product, the Green Log™ campfire and fireplace logs. The first container of the Green Log will be arriving in the US later this week.

VIASPACE Green Energy is a majority owned (75.7%) subsidiary of VIASPACE Inc. Both companies are publicly listed on the OTC Bulletin Board. VIASPACE (VSPC) has been listed and fully reporting to the SEC since June 2005. VIASPACE Green Energy (VGREF) has been listed and reporting since January 2010. 

Management Team

Dr. Carl Kukkonen: CEO, Chairman, Co-Founder – From its founding in 1998, Dr. Carl Kukkonen has led the VIASPACE team, serving as CEO of ViaSpace Technologies LLC, the predecessor of VIASPACE Inc., and serving as CEO and Chairman today.  ViaSpace Technologies incubated several companies based on technologies developed at the NASA Jet Propulsion Laboratory and patents and software licensed from Caltech.

Prior to founding VIASPACE, Dr. Kukkonen was a Caltech employee serving as Director of the Center for Space Microelectronics Technology (CSMT) and Manager of Supercomputing at the NASA Jet Propulsion Laboratory.  At JPL from 1984 to 1998, he managed several technologies and technical subsidiaries.  Dr. Kukkonen established and grew the CSMT into a 250-person operation with a $70M annual budget.

Stephen J. Muzi: CFO and Treasurer – Prior to joining ViaSpace Technologies LLC as Controller in 2000, Mr. Muzi was a Corporate Controller at Southwest Water Company from 1988 to 2000, a NASDAQ company with revenues in excess of $100 million.  In this position, he was responsible for all SEC reporting requirements as well as Board of Director Reporting.  He managed the company’s line of credit banking relationships, risk management program, internal audit program, and income tax requirements.  He also made presentations to investment brokers and analysts.

From 1985 to 1987 Mr. Muzi was a senior auditor with BDO Seidman, a national CPA firm. Mr. Muzi received his BS degree from Rochester Institute of Technology and an MBA from the State University of New York at Buffalo.  He is a Certified Public Accountant.

Green Baron Conclusion

Through its majority owned VIASPACE Green Energy (VGREF), VIASPACE Inc. (VSPC) appears truly positioned and ready to successfully capitalize on its proprietary Giant King Grass™ as a renewable and environmentally friendly alternative to fossil fuels.  The Company has spent the past two years educating world leaders and company executives about the benefits of this environmental answer to energy production.  Although it seems like it’s been a long road, we believe success is now within reach.

The Green Baron Report believes that Inter-Pacific Arts will continue to generate strong revenues, net profits, and cash flow for the Company.  A press release issued on January 25 stated that the Company expects first quarter and second quarter revenues for 2011 to exceed 100% of 2010 levels.  CEO Kukkonen notes, "The framed art business may seem incongruous with our Giant King Grass business in China, but they are quite synergistic. IPA is experienced in business operations and procurement in China and shipping products to the U.S. … The framed art business is profitable and growing.”

Power plants have found that Giant King Grass is suitable for its processes.  We note that Tuesday, January 18, 2011 that VIASPACE Green Energy Inc. announced CEO Kukkonen was in Asia since January 3 and met with potential electric power plant partners in Thailand and the Philippines.  The Green Baron Report believes there is significant interest from this part of the world for Giant King Grass™, and even one major agreement could send VSPC stock back to its 2009 highs.

Contact: 

Dr. Jan Vandersande, Director of Communications

(800)517-8050

IR@VIASPACE.com