VIASPACE Presents at International Symposium on Methanol Markets and Technology
PR Newswire
Posted: 2009-02-24 08:30:00
VP of Company's Direct Methanol Fuel Cell Subsidiary Gives Presentation to Global Audience
PASADENA, Calif., Feb. 24 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC) announced today that Gary Miller, vice president of business development for VIASPACE subsidiary Direct Methanol Fuel Cell Corporation made an invited presentation at the 4th Methanol Markets and Technology Symposium held February 17-18, 2009, in Doha, Qatar. More than 100 methanol industry experts convened at the global symposium to discuss the methanol markets, new applications for methanol and worldwide methanol production.
Miller said: "The symposium brought together senior-level business and government executives from many different countries, including Russia, China, India, U.S. and Canada, as well as countries throughout the Middle East. There is a lot of interest in direct methanol portable fuel cells as a new energy source that provides longer operating time and instant recharging compared to traditional batteries. Everyone who attended the symposium understands that although the portable fuel cell is not yet a material market for methanol, it is nevertheless a new, clean method of producing and delivering energy that that did not exist until recently and represents a high-growth opportunity."
Methanol is produced primarily from natural gas and used largely as a feedstock for producing plastics and chemicals, but in recent developments, China has begun producing significant amounts of methanol from coal and is considering using methanol as an alternative fuel for automobiles. In contrast, the U.S. and other countries are promoting ethanol as an automotive fuel.
Companies in Japan, Korea and Europe are developing and selling direct methanol fuel cells as power sources for a broad range of applications. Smart Fuel Cell (Germany) sells direct methanol fuel cells for recreational vehicles and military applications, and Toshiba (Japan) plans to produce methanol fuel cells in 2009; Samsung (Korea) is also active in fuel cell development for portable applications.
Direct Methanol Fuel Cell Corporation (DMFCC) partners with OEM companies producing fuel cell powered electronics, and DMFCC focuses on disposable fuel cartridges that provide the energy source for these notebook computers and mobile phones. Fuel cartridges represent a recurring revenue stream analogous to printer cartridges or razor blades. To meet anticipated global demand, DMFCC is developing a worldwide cartridge manufacturing and distribution network, and DMFCC is a cartridge partner with Samsung, the Sato Group in Japan and other companies.
About VIASPACE (OTCBB: VSPC): VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and other depleting or high-risk-pollutant energy sources. The Company provides raw material for cellulosic biofuels and develops and markets fuel cell cartridges, products and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns a portfolio of fuel cell patents licensed from Pasadena, Calif.-based California Institute of Technology (Caltech), which manages NASA's Jet Propulsion Laboratory, where the direct methanol fuel cell was invented. For more information, please see www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com. |
