WALNUT, Calif., April 20, 2015 /PRNewswire/ -- VIASPACE Inc.
(OTC: VSPC) announced that the company has signed a contract with
Almaden Energy Group, LLC (AEG) of San
Jose, California to grow and market Giant King Grass for
animal feed. VIASPACE will be paid fees for the propagation and use
of Giant King Grass and will also hold an equity position in
Almaden Energy Group. VIASPACE CEO, Dr. Carl Kukkonen, will serve on the board of
Almaden Energy Group. Principals in AEG have also invested in
VIASPACE.
AEG plans to initially grow Giant King Grass in the Imperial
Valley of California and sell to
customers in California, and also
to develop an international export market. The Imperial Valley has
the warm weather needed for Giant King Grass and has adequate water
resources even in the current California drought. The Imperial Valley
produces more than 1.7 million tons of hay each year for the dairy
and cattle feeding industries in the US, and also exports animal
feed to Japan, South Korea, Taiwan, China, Saudi
Arabia, and United Arab
Emirates.
Giant King Grass is being
currently grown in the Imperial Valley at the University of California Desert Research Center in
Holtville. Giant King Grass has excellent nutritional value, high
yield and high water use efficiency.
Almaden Energy Group CEO, Mr. Haris
Basit, stated, "We first met with VIASPACE last year and
visited the nursery in California.
We conducted several months of due diligence--meeting with the
University of California, farmers in
the Imperial Valley, dairy and cattle nutritionists, buyers and
sellers of animal feed and potential customers. AEG believes that
there is an excellent opportunity for a new premium forage crop
product based on Giant King Grass. We plan to move aggressively to
build up the acreage of Giant King Grass, and to develop the market
and supply chain to the customers both in the US and
internationally."
VIASPACE CEO, Dr. Carl Kukkonen,
reported, "We are excited to be working with Almaden Energy Group.
Over the last several months, we have gotten to know them, and we
will work well together. They have seen the results from the
University of California which show
that Giant King Grass can be harvested every two months in the
Imperial Valley for animal feed, with both high yield and
high-protein. I will personally assist AEG to ensure that our
animal feed project will be successful."
VIASPACE Chairman, Dr. Kevin
Schewe, commented, "We have been very actively meeting with
multiple interested parties regarding our desire to jump start what
we perceive to be a significant revenue-producing business line
using VIASPACE Giant King Grass for animal feed. I have personally
been involved in this selection process and believe that VIASPACE
is fortunate to be partnering with Haris
Basit and AEG. Mr. Basit has founded four companies in
addition to Almaden Energy Group. These companies cover areas as
diverse as analog mixed-signal chips, power electronics, high
frequency trading data and crypto-currency mining hardware. He
currently advises publicly traded technology companies on long-term
corporate strategy. He is a Silicon Valley entrepreneur with proven
capability and experience raising funds from venture capital,
private investors, public corporations and government agencies.
Having him aligned as an investor in VIASPACE and CEO of this
animal feed business partnership gives me great confidence that we
are in this animal feed business to succeed."
About VIASPACE Inc.
VIASPACE grows renewable Giant King® Grass as a
low-carbon fuel for clean electricity generation; for
environmentally friendly energy pellets; and as a feedstock for
bio-methane production and for green cellulosic biofuels,
biochemicals and biomaterials. Giant King® Grass is a
proprietary, high yield, dedicated biomass energy crop. Giant
King® Grass when it is cut frequently at 4 to 5 feet
tall is also excellent animal feed. The USDA granted approval for
planting Giant King® Grass throughout the US and
cooperates in exporting by performing the required inspections and
issuing the phytosanitary certificate needed for import into
foreign countries. Giant King® Grass is being grown in
California, Hawaii, St. Croix Virgin Islands, Nicaragua, South
Africa, China, Myanmar, Pakistan, Philippines and Guyana. For more
information, please go to www.VIASPACE.com or contact Dr.
Jan Vandersande, Director of
Communications, at 800-517-8050 or IR@VIASPACE.com.
About Almaden Energy Group
Almaden Energy Group LLC, is dedicated to the growth of premium
forage crops that provide high quality animal nutrition with a
reduced impact on the environment. Reduced use of land,
water, pesticides and herbicides allows us to reduce our costs and
provide better value to our customers. Founded by Silicon
Valley entrepreneurs, AEG strives to bring an innovative approach
to the animal feed industry. For more information please contact
Haris Basit at
haris@almadenenergy.com.
Safe Harbor Statement
Information in this news release includes forward-looking
statements. These forward-looking statements 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 those 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, 2014, and
other factors over which VIASPACE has little or no control.
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visit:http://www.prnewswire.com/news-releases/viaspace-partners-with-almaden-energy-group-to-grow-giant-king-grass-in-the-usa-for-animal-feed-business-line-300068312.html
SOURCE VIASPACE Inc.
