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Aug. 30, 2011 /PRNewswire/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC) and its subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) announced that CEO Dr.
Carl Kukkonen provided a public business update during an audio interview which is available at
http://chartpoppers.com/ireports/chartpopperscom-interviews-dr-carl-kukkonen-ceo-viaspace-inc-otcbbvspc. ChartPoppers.com is a small-cap research and investment commentary provider. The interview is summarized below and is available with the username: guest and password: 1q2w3e.
ChartPoppers Question 1: For the sake of our new listeners can you briefly describe your business?
Kukkonen: VIASPACE is a clean energy company that grows Giant King™ Grass as a dedicated energy crop. Giant
King Grass is not a food but rather grown specifically as a multipurpose fuel and feedstock for bioenergy and biochemical applications. It can be used as a renewable alternative to coal and nuclear power to generate electricity, and as an alternative to oil to produce transportation fuels such as gasoline and diesel. Giant
King Grass can also be used as a feedstock to make biochemicals and bio plastics.
King Grass has the highest yield in terms of tons per acre of any crop on Earth. That means that you get more electricity or biofuels per acre than with any other crop. Higher crop yield means lower cost electricity or biofuel for producers. Our extremely high yield is a major advantage of Giant King Grass. Another major advantage is that Giant King Grass has an extensive base of independent test data for bioenergy applications such as electricity generation, pellets, biogas and biofuels. It is perhaps the most well characterized energy crop in the world. This data gives our customers confidence about the content of Giant King Grass and its high yield.
By teaming up with VIASPACE and growing Giant King Grass, an electric power plant or bio refinery has a captive source of clean fuel and does not have to depend on dirty coal or expensive oil. The VIASPACE business model is to form joint ventures with quality partners worldwide and to produce electricity, pellets, biofuels, biochemicals or bio plastics from Giant
King Grass. A co-located Giant King Grass plantation and power plant, pellet mill or bio refinery provides jobs for local farmers, higher paying jobs in the power plant, and clean electricity and green products such as Giant King Grass pellets for regional development or export.
Solar is another renewable energy source, but only produces electricity in the daytime. Wind only produces electricity on windy days. We don't know how to store this electricity, and the world needs electricity that can be produced 24 hours a day all year long. Today, reliable base electricity is produced by coal, gas, oil and nuclear. Giant
King Grass replaces these with a clean and renewable alternative.
To put things in business perspective, coal worldwide is a
$300 billion business. Replacing only 1% of coal with Giant King Grass would result in revenues of
$3 billion per year.
ChartPoppers Question 2: Korea seems to be taking a big interest in your pellets, do you see them as a potential customer?
Kukkonen: Energy pellets are already a big market in
Europe and markets and a developing market in Korea,
Japan. A pellet is simply Giant King Grass that has been dried, ground into a powder and squeezed into a cylinder that is about three quarters of an inch long and one quarter of an inch wide. Pellets are made by densifying the grass for long-distance bulk shipment in the hold of the ship in a manner like grain is shipped today.
The big customers for pellets are large coal-fired electric power plants. They have billions of dollars invested in these power plants and cannot abandon this capital investment. However, many of them are required by government policy to reduce their carbon emissions. So they are taking out up to 20% of the coal and replacing it with biomass pellets and therefore reduce their carbon emissions by 20%. Please remember that plants breathe carbon dioxide and store it during their growth. When you burn biomass, you are simply recycling carbon dioxide in the atmosphere, not creating new carbon emissions.