VIASPACE Inc. Sells Humidity Sensor Line
posted on Apr 23, 2009 05:04AM
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.
About VIASPACE Inc.: VIASPACE is clean energy company providing products and technology for renewable and alternative 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 http://www.viaspace.com/ or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or [email protected].
Safe Harbor Statement: Information in this press release and interview includes forward-looking statements which 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 any future results, levels of activity, performance or achievements 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, 2008, as well as general economic and business conditions; changes in demand for the Company's products; competition from larger companies; changes in demand for alternative energy; risks associated with international transactions; risks related to weather, crop damage and technological change; and other factors over which VIASPACE has little or no control.