VIASPACE Inc., a clean energy company growing Giant King(TM) Grass as a low-carbon, renewable energy crop, announced that it has leased an additional 136 acres in Guangdong Province, China. The new acreage has already been planted with Giant King Grass.
With 250 acres now under cultivation, VIASPACE is in negotiations to acquire more land. The current acreage is expected to support immediate needs for prototypes, demonstrations to potential customers and joint venture partners, and initial demand for products, such as energy pellets. Over the next several quarters, the acreage will also serve as a nursery and source of seedlings for planting on additional land.
Due to the fast-growing nature of Giant King Grass and the company’s plans to propagate seedlings that could result in geometric increases in plantings, VIASPACE believes it can support the development of up to 25,000 planted acres. Included in this plan are potential projects for 2010 involving 5,000 acres that would be projected to annually produce 200,000 tons of Giant King Grass pellets, which could be sold for $20 million.
VIASPACE Chief Executive Dr. Carl Kukkonen commented, “With this new land under cultivation, we have the capability to substantially accelerate the production of renewable Giant King Grass crops that can support large, low-carbon energy projects, several of which we are discussing with potential partners and customers. If agreed upon and implemented, the projects would include direct combustion of Giant King Grass as biomass and Giant King Grass in pellet form to be co-fired with coal.”
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