VSPC
VIASPACE (OTCBB: VSPC), founded in July 1998, is a company that works to transform proven space and defense technologies from NASA and the US Department of Defense into innovative products that the Company believes fulfill high-growth market needs and solve today's complex problems. Through its three subsidiaries--VIASPACE Security, Inc., Ionfinity, and Direct Methanol Fuel Cell Corporation (DMFCC)--VIASPACE has a diversified high tech portfolio that includes microelectronics, sensors, homeland security & public safety, energy/fuel cells, information & computational technology, RFID, e-finance, and mobile e-commerce.
VIASPACE has licensed patents and software technology from the California Institute of Technology (Caltech), which manages the Jet Propulsion Laboratory (JPL) for NASA. This technology was developed by scientists and engineers at JPL over the last decade and was funded by NASA and the Department of Defense. VIASPACE plans to leverage this large government R&D investment - made originally for space and defense applications - into commercial products. The company currently focuses on technologies originally developed for NASA and the US Department of Defense that have already reached a certain stage of maturity. Initial investments in these technologies amount to millions of dollars and many years of R&D, enabling VIASPACE to manage the commercialization process with only a modest additional investment and greatly reduced technical risk.
VSPC News:
January 31 - VIASPACE REPORTS ON PROGRESS PURSUING SECURITY AND FUEL CELL OPPORTUNITIES AND COMMENTS ON RESEARCH ANALYST UPGRADE
VIASPACE Inc. (OTCBB: VSPC), a company commercializing proven technologies from NASA and the US Department of Defense, today provided a business update on several key developments that the company believes position it for growth in the security/defense and fuel cell sectors. VIASPACE has achieved strong revenue results, executed a teaming agreement with Raytheon Company's Network Centric Systems established a leadership role in the emerging direct methanol fuel cell cartridge market, received an upgraded rating from analyst firm Dutton Associates, obtained several key government contracts and strengthened its intellectual property portfolio.
Earlier this week, research analyst firm Dutton Associates announced an upgrade to both its rating and revenue estimates for VIASPACE. Citing VIASPACE's better than expected revenues, and the accelerating interest surrounding the use of portable fuel cells in consumer electronics among the large OEMs, Dutton Associates reported: "We upgrade our rating on VIASPACE Inc. from Neutral to Speculative Buy. Also, we are upgrading our 2006E and 2007E revenue estimates as the Company should see momentum following the recent agreements with Raytheon and L-3 Communications."
VIASPACE subsidiary Direct Methanol Fuel Cell Corporation (DMFCC) focuses on producing and distributing methanol fuel cartridges designed to provide the energy source for laptop computers, cell phones and other portable electronic devices expected to be powered by direct methanol fuel cells. DMFCC also uses its licensed intellectual property rights to provide intellectual property protection for manufacturers of direct methanol and other liquid hydrocarbon fuel cells. ABI Research predicts that 13.5% of laptops will run on fuel cells by 2012. Recently major OEMs including Samsung, Toshiba and Hitachi have announced methanol-powered products. Samsung recently announced a fuel cell-powered notebook that can run five hours a day for one month on a single fill-up. DMFCC is establishing a global network of partners to manufacture and distribute its fuel cartridges with design and certified manufacturer agreements in place with Nypro Inc. in the United States, Elentec, SMC and Hyun Won in Korea, and Seed Corporation/Sato Group in Japan. In addition, the company will demonstrate its fuel cartridges working with a direct methanol fuel cell made by Parker Hannifin at the Fuel Cell Expo in Tokyo February 7-9.
VIASPACE and Raytheon NCS recently executed a teaming agreement that will include collaboration on sensor and data fusion and real-time diagnostic solutions for homeland security and national defense applications. This strategic agreement will enable both companies to jointly pursue new and emerging security applications built around the real-time analysis of advanced sensor technologies. VIASPACE eagerly anticipates leveraging its own hardware and software expertise and proprietary technology along with Raytheon's exceptional marketing capabilities, technical expertise, global distribution channel and extensive customer base to deliver leading edge security and surveillance products.
As reported, VIASPACE has been awarded several government contracts, bolstering its position in the thriving security and defense industries. Subsidiary VIASPACE Security, whose name has been changed from Arroyo Sciences to reflect its business focus, holds a contract to provide sensor data fusion software to L-3 Communications for a US Department of Homeland Security program to enhance port security. In October 2006, VIASPACE subsidiary Ionfinity was awarded a Phase II STTR contract extension and additional funding by the US Air Force to develop, jointly with Aerospace Corp. and the NASA Jet Propulsion Laboratory, a soft ionization membrane to be used as a micro ion engine for micro and nano satellite station keeping. Ionfinity has also been awarded a Phase I STTR contract by the US Army to design and prototype a field portable, highly efficient, integrated system for detection and identification of chemical agents such as industrial toxic gases and chemical components of Improvised Explosive Devices (IEDs). In August 2006, Ionfinity received a Phase I STTR contract from the US Navy to develop a novel, miniaturized chemical sensor system capable of detecting chemical and biological weapons, explosives, and illegal drug residues in the holds and storage bays of suspect vessels.
VIASPACE continues to build on its impressive portfolio of patents representing groundbreaking government R&D and investment licensed from the California Institute of Technology, operator of NASA's Jet Propulsion Laboratory. Recently the company has filed several patent applications surrounding its methanol fuel cartridges, soft ionization membrane technology and automated threat detection system.
Dr. Carl Kukkonen, CEO of VIASPACE and its subsidiaries, commented: "VIASPACE is growing rapidly, making significant strides in our direct methanol fuel cell cartridge and security and defense businesses. After doubling revenue in 2006, we are working to at least double our revenue again this year. We have obtained substantial government contracts and forged relationships with major players including Raytheon and L-3 Communications. We are seeing noteworthy progress on the part of consumer electronics OEMs to commercialize fuel cell powered devices, which we believe validates our continued focus on becoming a leading supplier of direct methanol fuel cartridges. And we are expanding our considerable intellectual property portfolio. We are pleased that the analysts at Dutton Associates have recognized VIASPACE's most recent accomplishments and share our positive outlook." |
