VIASPACE, Inc. (VSPC.OB) to Form Joint Venture to Develop Giant King Grass Plantation & 250,000-400,000 Tonne/Year Pellet Mill
VIASPACE Inc. and its subsidiary VIASPACE Green Energy Inc. (OTCBB: VGREF) today announced that VIASPACE and General Biofuels have entered into a Memorandum of Understanding to develop a large Giant King Grass Plantation and a 250,000 to 400,000 tonne per year biomass pellet plant in the Dominican Republic. In discussions for nine months, VIASPACE and General Biofuels have presented the project to large potential customers in Europe. One potential customer has already tested Giant King Grass. General Biofuels has agreed to act as the lead developer and operator; procure land, obtain debt and equity financing, engineering, procurement and construction (EPC)…