VIASPACE Inc. Alternative Energy Business Covered in Research Report
PR Newswire
Posted: 2009-03-23 08:30:00
Focus on Biofuels and Fuel Cells Holds Growth and Profit Potential
PASADENA, Calif., March 23 /PRNewswire-FirstCall/ -- A research report and stock alert issued last week on VIASPACE Inc. (OTC Bulletin Board: VSPC) provide a detailed description of VIASPACE's alternative energy business and future growth and profit potential, according to VIASPACE Chief Executive Dr. Carl Kukkonen. Cohen Independent Research Group (CIRG) published a comprehensive research report on VIASPACE covering the Company's recent acquisition of IPA, a profitable company, and restructuring to focus on a renewable, green source of energy - a fast-growing grass for biofuels - and clean energy - fuel cell cartridges and a portfolio of direct methanol fuel cell patents. The March 18 CIRG report, including its recommendation and price targets, is available at www.CohenResearch.com.
Also on March 18, a Stock Alert on VIASPACE was issued by The Green Baron Report at www.TheGreenBaron.com.
Dr. Kukkonen commented: "In a relatively short period of time we accomplished a restructuring to reduce operating expenses, sold a non-core business, and used the proceeds from that sale to reduce debt. We also acquired a company that not only provided entry into renewable energy but is also generating net income and positive cash flow that will be used to support growth of our core alternative energy business. As a result, and with anticipated increasing demand for alternative energy sources and technologies, VIASPACE's business potential and financial outlook have materially and substantially improved. For example, VIASPACE subsidiary Direct Methanol Fuel Cell Corporation recently completed its second fuel cartridge contract with Samsung."
Kukkonen continued: "The CIRG research report provides a comprehensive analysis of VIASPACE's alternative energy business and strategy. It discusses the Company's green and clean energy businesses and potential and makes a 'strong buy' recommendation, including stock price targets based on best and worst-case scenarios."
"We will continue to build our fuel cell cartridge business, which has great potential," Kukkonen said. "However, our added focus on agriculture products as a renewable energy source diversifies our base for growth and also broadens the universe of potential investors in VIASPACE."
Kukkonen reiterated that the Company is now growing Giant King grass in China and plans to initially sell to the animal feed market and later to producers of biofuels such as cellulosic ethanol, biocrude and green gasoline. Therefore, while biofuels are VIASPACE's primary and large market opportunity for the grass, the Company is positioned for more immediate revenues while biofuel plants and infrastructure are being built."
Commenting on VIASPACE's revenue outlook, Kukkonen added that the Company's restructured operations and new business strategy are expected to achieve revenue growth in 2009, with revenues from its renewable and clean energy businesses achieving greater visibility in 2010 and becoming the dominant source of total revenues by 2011.
About VIASPACE Inc.: VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and 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-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. |
