PASADENA, Calif. , Oct. 6 /PRNewswire-FirstCall/ -- VIASPACE Inc.
(OTC Bulletin Board: VSPC) today announced the company has advanced on its
objectives in the global market for defense and commercial security solutions
and targeting additional opportunities in new industries. VIASPACE's Security
division is fulfilling new key customer contracts, securing additional deals,
offering a new line of perimeter security solutions, targeting new industries,
and globalizing operations with customers and teaming partners in the United
States , Middle East and Asia as a part of this ongoing
VIASPACE subsidiary, Ionfinity, was recently awarded a
Leveraging proven, highly innovative real-time sensor data fusion and SHINE inference engine technology developed by NASA and licensed exclusively to VIASPACE, the company's wholly owned subsidiary, VIASPACE Security, has begun contracts to develop new solutions for major commercial and aerospace corporations, both in the U.S. and overseas. VIASPACE is also working with a number of major players in the aerospace and defense industry, including its announced teaming relationship with Raytheon Company's Network Centric Systems on security and surveillance applications.
VIASPACE Security has teamed with a major radar/IR hardware platform manufacturer in the perimeter security sector to resell and add value to the Area Intrusion Monitoring System (AIMS) family of radar security surveillance solutions. The technology is used to monitor critical infrastructure in airports, seaports, borders, military installations and other sensitive perimeters. VIASPACE is pursuing multiple opportunities to build on the AIMS platform utilizing its SHINE sensor fusion and inference engine technology to create new leading edge perimeter security solutions. The company recently reported a successful demonstration of its system for the Air Force Research Lab. The company is in talks with owners of high profile infrastructure including major international airports, seaports and nuclear power plants and has received interest from other elements of the U.S. Armed Forces.
VIASPACE Security recently fulfilled its Phase II contract from L3 Communications for software architecture, integration of software and hardware and final testing for the Advanced Container Security Device (ACSD) program, which is funded by the U.S. Department of Homeland Security. The container breach detection systems have been delivered and are being tested by DHS. VIASPACE twice received additional funding and expanded its role in Phase II and looks forward to the next phase of the program.
VIASPACE CEO Dr. Carl Kukkonen commented: "Our VIASPACE Security division is working hard to achieve rapid growth. We are successfully executing on our existing defense and homeland security contracts and actively negotiating for others. Adding the AIMS perimeter security platform to our sales arsenal provides VIASPACE with an additional revenue stream, a market-tested platform on which to build game changing perimeter security solutions, and an existing customer base to target. We are also expanding into growing industries where our proprietary inference engine and sensor fusion technologies can provide significant competitive advantage for customers."
Dr. Kukkonen continued: "While we are bound by confidentiality agreements that prevent us from disclosing names and specifics at this time, VIASPACE is engaged with important potential customers and teaming partners in the U.S., Japan , China , Malaysia , Taiwan and the Middle East . We are extremely pleased with the interest and feedback VIASPACE technology solutions have generated among some very major players in the security and other industries and are moving forward to seize these opportunities."
About VIASPACE: Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory. For more information, please visit our website at http://www.VIASPACE.com. For investor relations contact Dr. Jan Vandersande , Director of Communications, at 800-517-8050 or IR@VIASPACE.com. For media relations contact Dr. Carl Kukkonen , CEO, at 626-768-3360.
This news release includes forward-looking statements. These forward-looking statements relate to future events or our 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 any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include the risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-KSB, for the fiscal year ended December 31, 2007 , as well as general economic and business conditions, the ability to acquire and develop specific projects and technologies, the ability to fund operations, changes in consumer and business consumption habits, and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.