VIASPACE, Inc. (VSPC.OB) Subsidiary Signs Memorandum to Co-Develop Fuel Cells and Cartridges
Posted on Wednesday, June 18th, 2008 | In Current Market News, OTCBB Markets, Small & Micro Cap, Stocks to WatchVIASPACE, Inc. (OTCBB: VSPC) announced today that their subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC), signed a memorandum of understanding with Suzuki Technology Private Limited of Singapore. The memorandum states that DMFCC will be given the rights to co-develop direct fuel cells and fuel cartridges for the multibillion-dollar notebook computer and portable electronics industries.
VIASPACE and Direct Methanol Fuel Cell Corporation manufacture disposable fuel cartridges for portable electronic applications, and fuel cell and battery test equipment. The company also engages in selling high-end and consumer safe rechargeable lithium-based batteries. DMFCC has licensed the extensive Caltech/USC portfolio of direct methanol fuel cell related patents.
Suzuki is an active player in the production and marketing of electronics products including notebook computers, portable storage devices, optical disk drives, memory modules, flash-based memory, and graphic accelerators. The memorandum is an opportunity for Suzuki to further improve on their products by partnering with companies that partake in technology advancement.
“We are pleased to begin this new collaboration with Suzuki Technology,” said Carl Kukkonen, CEO of VIASPACE and DMFCC. “We believe that our knowledge of the industry, our large portfolio of intellectual property and strong relationships with fuel cell developers, as well as our world class manufacturing partners, including SATO Group of Japan, Nypro of the U.S. and Tyco Electronics, will afford opportunities to combine fuel cell innovation with Suzuki’s notebook computers and other digital technology.”
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