WALNUT, Calif., May 12, 2015 /PRNewswire/ -- VIASPACE Inc.
(OTC: VSPC) announced that VIASPACE CEO, Dr. Carl Kukkonen, made a presentation at the
International Biomass Conference and Expo held April 20-22, 2015 in Minneapolis, Minnesota. The presentation
provided a case study and update on the 12 MW biomass power plant
and 2,100 acre Giant King Grass plantation project being developed
in Nicaragua.
The eighth annual International Biomass Conference and Expo
attracted 1,400 industry professionals and 204 exhibitors from all
sectors of the world's biomass utilization industries—biobased
power, thermal energy, biogas, biofuels and biochemicals.
Dr. Kukkonen's presentation included an overview of the project
and its status which is summarized below.
Nicaragua power plant and
plantation specifications:
- 12 MW gross electrical power
- High-temperature, high-pressure boiler with 30% efficiency from
heating value of fuel to electricity
- High availability minimum 90%--7,884 hours per year
- 11% internal electricity use
- 84 million kwh of salable electricity
- Expected project lifetime 25+ years
- Fuel consumption--9 dry equivalent metric tons of Giant King
Grass per hour
- Power plant co-located with 2,100 acre (832 hectare) Giant King
Grass plantation
Nicaragua power plant and
plantation status:
- Prefeasibility study and business plan completed
- Giant King Grass growing well in
Nicaragua
- Formal feasibility study completed
- EPC contractor selected and contract signed
- Power plant operator selected
- Provisional Generation License applied for
- Non-objection letter obtained from community
- Non-objection letter obtained from environmental
department
- In progress with debt financers--banks
- Local partners will provide half of the equity
Remaining items planned to be completed in coming months. Power
plant construction and commissioning will take less than two
years.
At the conference, Dr. Kukkonen also held technical meetings,
and met with potential new customers, suppliers and investors.
VIASPACE Chairman, Dr. Kevin
Schewe, commented, "The International Biomass Conference and
Expo is the largest gathering of biomass professionals in
North America. It is a
best-in-class professional meeting. Dr. Kukkonen's invited
presentation regarding our Giant King Grass fueled, 12 MW
renewable, biomass power plant in Nicaragua reflects the genuine and growing
international interest in this particular project. VIASPACE is
keenly focused on making this project scalable and reproducible as
we continue with our Nicaraguan partners to make it a reality."
The VIASPACE presentation at the International Biomass
Conference is available on the VIASPACE website
www.VIASPACE.com.
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, 2014, and
other factors over which VIASPACE has little or no control.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/viaspace-ceo-provides-update-on-nicaragua-giant-king-grass-plantation-and-12-mw-power-plant-at-international-biomass-conference-300081642.html
SOURCE VIASPACE Inc.