Wednesday, October 22, 2008

VIASPACE Inc. (VSPC.OB) Wins Navy Contract to the Tune of $786,000

Navy Contracts are not easy to land and even harder when the competition for those contracts is fierce. Viaspace subsidiary Ionfinity pulled out all the stops and has been awarded a $786,000 Phase II contract for its proposal entitled “Miniature Electronic Sniffer for Navy Vertical Take off Unmanned Aerial Vehicles (VTUAVs)” by the Navy’s Small Business Technology Transfer (STTR) Program. Basically, this two year contract will empower the Navy to sniff out chemical, explosive, and illegal drugs in suspect ships.

The technology behind such a sniffer has been made possible through a joint collaboration with NASA’s Jet Propulsion Laboratory, Caltech, General Dynamics, Sionex, and Imaginative Technologies. Viaspace’s subsidiary Ionfinity is focused specifically on developing highly innovative mass spectrometry technology that revolutionize the detection and monitoring of potential homeland security and personal safety.

The market for the security industry is estimated at $55 Billion. VIASPACE holds a 46.3% membership interest in Ionfinity, and is working to develop a “soft-ionization” technology in support of the next-generation mass spectrometers and systems dependent on ion level sampling. The technology should totally eliminate ion fracturization thus enable the system to provide a 10x increase in sensitivity, a 10x increase in mass range and the ability to miniaturize the product to make it portable and low cost.

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