VIASPACE Inc. Sells Humidity Sensor Line
PR Newswire
Posted: 2009-04-23 08:30:00
Strategic Sale of Non-Core Business to Facilitate Focus on Core Growth, Profitability
PASADENA, Calif., April 23 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC) today announced that it sold its humidity sensor business line for cash to Colton, California-based LANDTEC North America, a privately held provider of monitoring systems for renewable energy and green house gas (GHG) reduction validation.
VIASPACE Chief Executive Dr. Carl Kukkonen said: "The strategic sale of this non-core business allows not only more efficient operations but also full commitment of resources to growing our core businesses in renewable and alternative energy. As a result of higher operating efficiency and expected revenue growth, we believe that VIASPACE will achieve breakeven cash flow in 2009 and quarterly profitability sometime during 2010."
VIASPACE's renewable energy business is focused on supplying a proprietary fast-growing feedstock for the global $25 billion biofuels market. Its alternative energy business includes the design and manufacture of disposable fuel cell cartridges for electronics OEM customers, such as Samsung, who are developing fuel cells as a clean power-source substitute for batteries.
LANDTEC, a designer and manufacturer of instruments, software and products for landfill gas extraction, biogas digesters and other methane recovery projects, plans to retain VIASPACE personnel for its humidity sensor business and expects to make the transition transparent to existing customers. See www.landtecna.com for further information. |
