VIASPACE Director Purchases Additional 5 Million Shares of Common Stock on the Open Market. VIASPACE CEO to Speak at 5th Annual International Biomass Conference And Expo at the Colorado Convention Center MARIETTA, Ga., April 16, 2012 /PRNewswire/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC), and its subsidiary VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) today reported that since March 19, 2012, VIASPACE Director Dr. Kevin L. Schewe has purchased an additional 5 million VSPC common shares on the open market. Dr. Schewe has purchased 15 million shares since joining the VIASPACE Board of Directors in January 2012, and now preferentially holds a total of 92,000,000 VSPC common shares. Additionally, Dr. Schewe will be hosting the upcoming VIASPACE Board of Directors meeting to be held in Denver later this week. Dr. Schewe commented: "At the Corporate level, we are actively engaged in the various stages of numerous Giant King™ Grass bioenergy and related projects on multiple continents. We anticipate that when these projects come to fruition and are sequentially launched, our Company value may appreciate. As a VSPC investor, I personally have taken the long-term view to establish my stake in the Company at a time when I believe the market undervalues us during this period when our seeds of success are being sown. We are in the bioenergy business sector for the long haul and plan to excel in the burgeoning bioenergy universe. In the meantime, we will take the necessary steps to strengthen our Company and continue our growth strategy. I believe that the investment community will soon recognize our resolve and commitment to become a leader in renewable bioenergy." VIASPACE CEO Dr. Carl Kukkonen will be presenting in the Biomass Power Session: "Cultivating Electricity: Growing the Fuels that Feed Our Power Plants" at the 5th Annual International Biomass Conference & Expo in Denver, Colorado on Tuesday, April 17, 2012. Dr. Kukkonen's invited presentation is entitled: "Integrated Energy Crop Plantation and Biomass Power Plant." During the week of the conference, Dr. Kukkonen and VIASPACE Board Members will be meeting with potential project partners and other various interested parties from the biomass and bioenergy industry. Dr. Kukkonen commented, "This is an exciting time for VIASPACE and we have several new potential bioenergy projects we are planning in which we can take the lead role provided we have the financing in place. I will be making a separate presentation with our board members to representatives in the banking and financing industry during the week. I am very pleased with the current direction of the Company and our Board's support and strategic involvement. I will be providing an update regarding this week's board meeting in the near future." Dr. Kukkonen also noted that this press release is addressed from Marietta, Georgia, reflecting that the company has reduced overhead expenses by moving its main office to Georgia. |
