WALNUT, Calif., Feb. 17, 2015 /PRNewswire/ -- VIASPACE Inc.
(OTC: VSPC) announced that CEO Dr. Carl
Kukkonen made an invited presentation at the 15th
Annual Caribbean Energy Conference held by Platts/McGraw-Hill
Financial in San Juan, Puerto Rico
January 29-30, 2015. The
presentation, titled "Giant King® Grass Biomass Power
Plants in Caribbean and
Central America," is available on
the VIASPACE website www.VIASPACE.com.
The Platts Caribbean Energy Conference focused on enabling
project development in the region where most of the electricity is
generated from oil. Alternatives such as propane (LPG) and
liquefied natural gas (LNG) were a focus as well as renewable
electricity from wind, solar, geothermal and biomass. The
conference had 280 attendees from 29 countries. Dr. Kukkonen was
the biomass speaker at the conference.
The current low price of oil was a major topic of discussion at
the conference. Electricity prices in the Caribbean are very high-- $0.25 – $0.40 per
kilowatt hour--due to the high price of oil. Oil prices recently
and rapidly fell by 50%. Some countries using oil-generated
electricity are keeping the retail price of electricity high and
making a large profit to pay off their debts. Speakers were
unwilling to predict the future price of oil because the recent
fall in oil prices took everyone by surprise, and no one would have
predicted this large decline. It was reported that the World
Bank was suggesting that countries plan on oil at $65 per barrel. Liquefied natural gas projects
are most impacted by the low price of oil. Although the price of
natural gas in the US is quite low, the cost of liquefying it and
transporting it makes it more expensive than oil today when
delivered to the Caribbean. Plus
the infrastructure costs of liquefying and re-gasifying natural gas
are quite high.
Dr. Kukkonen reported that biomass electricity from Giant
King Grass is still much less
expensive than electricity from diesel oil and even less expensive
than electricity from heavy fuel oil. Plus the future price
of the Giant King Grass fuel is well known because you are "growing
your own electricity", and these green electricity rates are not
subject to the volatility of oil prices. He stated, "Giant King
Grass electricity has zero carbon emissions. It is renewable and
creates both construction jobs and ongoing employment in the
biomass power plant and Giant King Grass plantation. The money is
spent in your own country and does not have to go overseas to pay
for oil. You will have reliable base electricity for industrial
development, tourism and for your citizens. These are big
advantages."
VIASPACE Chairman, Dr. Kevin
Schewe, commented, "This is the second consecutive year that
Dr. Kukkonen has been the invited biomass speaker at the
prestigious Platts Caribbean Energy Conference and it recognizes
VIASPACE's growing contributions and presence in the region. He
presented an overview of using Giant King Grass to create
electricity by both direct combustion and also by anaerobic
digestion and then specifically discussed our Energia Reino Verde
12 MW direct combustion power plant project in Nicaragua and Tibbar Energy's 7 MW anaerobic
digestion power plant project using VIASPACE Giant King Grass in
St. Croix, USVI. We emphasized that Giant King Grass generated
electricity is carbon neutral, relatively inexpensive compared to
other modalities, available as base load power 24/7, creates local
farming and power plant jobs, keeps money in the local economy as
opposed to exporting money for oil and is not subject to the known
volatility of oil prices. We are on the leading edge of teaching
the world how to 'Grow Your Own Electricity' using Giant King Grass
as the world's most productive, carbon-neutral biomass
platform."
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.
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, 2013, and
other factors over which VIASPACE has little or no control.
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SOURCE VIASPACE Inc.
