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VIASPACE Progress In Nicaragua: Plantation Expansion & New Animal Feed Business

Stocks in this article: VSPC

WALNUT, Calif., Feb. 4, 2014 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) issued the following update on the Giant King Grass project in Nicaragua. 

VIASPACE previously announced that it has entered into a contract with AGRICORP, the largest rice company in Nicaragua, and is growing Giant King Grass on land owned by them.  The Giant King Grass is growing well in Nicaragua, and VIASPACE and AGRICORP have agreed to form a partnership to build a 12 MW biomass power plant fueled by Giant King Grass.

In addition to the 12 MW biomass power plant partnership, VIASPACE and AGRICORP have now decided to add animal feed as a second focus to the overall business project in Nicaragua.

VIASPACE CEO, Dr. Carl Kukkonen, visited Nicaragua last week. He spent three days at the Giant King Grass growing site which is part of the Miramontes rice plantation on Lake Nicaragua. The 10,000 acre plantation has approximately 6,000 acres planted in rice and the remaining 4,000 acres are available for growing Giant King Grass. The 12 MW power plant will require a 2,100 acre Giant King Grass plantation. Irrigation is plentiful and is provided from Lake Nicaragua to supplement the natural rainfall.

Giant King Grass was originally planted in Nicaragua in December 2012. It was first harvested in May 2013, and another Giant King Grass field was planted using material propagated from this first harvest. Giant King Grass is not grown from seed, but rather from cuttings similar to the way sugarcane is propagated and planted.

The existing Giant King Grass is being harvested and an additional 29 acres are being planted. The multiplication efficiency of Giant King Grass is extremely high with 1 acre of Giant King Grass able to produce enough cuttings to plant more than 100 new acres every six months.

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