Click here to close now.


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."  

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 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.


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 Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
"eFolder does a lot of different things but we protect data and we are focused on protecting data no matter where it resides," explained Carlo Tapia, Product Marketing Manager at eFolder, in this interview at Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Cloud computing is unquestionably one of the driving forces of DevOps, as the automation of operations transforms enterprise software development. DevOps, however, is more than a technology trend, as it represents a move toward silo-busting, self-organizing horizontal teams that drive business velocity. At the same time, enterprise Digital Transformation represents an upheaval across the enterprise, as customer preferences and behavior drive enterprise technology decisions. This transformation ...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
In demand-intensive mobile and web applications, an emerging pattern is to host the Systems of Engagement in the cloud (for maximum responsiveness) but keep the Systems of Record with the other important business systems in the company datacenter, often on a tightly secured mainframe. But what about the space in between? In this IBM Redpaper publication, we show that the IBM Bluemix cloud platform offers technologies that make it easy for cloud-based SoEs to securely connect to on-premises IBM...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
OpsHub, Inc. has announced enhanced support for DevOps and Migration for both Team Foundation Server and Visual Studio On-line in a heterogeneous environment. With added support for build and release entities in OpsHub Integration Manager (OIM) Microsoft customers can now leverage Visual Studio build and release services to manage DevOps processes in a heterogeneous environment. With the enhanced support customers can manage the DevOps process in Team Foundation Server while undertaking activit...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.