| PASADENA,
Calif.-- VIASPACE Inc. (BULLETIN BOARD: VSPC) , a company dedicated to
commercializing proven technologies from NASA and the US Department of
Defense, announced today that it has appointed Daniel J. Lehman as Director
of Mergers and Acquisitions. Mr. Lehman has over 15 years of experience
in mergers and acquisitions, finance, and private equity in the U.S., Europe,
and Asia.
Mr. Lehman was a key member of the
Strategy and Corporate Development team at Case Corporation, which was
responsible for all acquisitions, recapitalizations, divestitures, and
joint ventures for the company's worldwide operations. He was a Founder
and General Partner of Pacific Coast Ventures, a private equity firm focused
on investing in technology companies located primarily in Southern California,
and he was one of six investment professionals managing three funds and
approximately $300 million at the venture capital firm of Forrest Binkley
& Brown. Mr. Lehman is experienced in sourcing, evaluating, structuring,
negotiating, and funding investments. He has advised companies on securing
additional debt and equity capital, evaluating partnership opportunities,
and structuring liquidity options.
Mr. Lehman earned a BS in Information
Systems from Kettering University and an MBA from Harvard Business School.
VIASPACE CEO, Dr. Carl Kukkonen,
said, "VIASPACE is a growing company. We anticipate substantial revenue
growth in 2007 from our current subsidiaries focusing on energy and security.
In addition, the VIASPACE Board of Directors has asked management to explore
additional growth opportunities through mergers and acquisitions. We expect
Dan Lehman to be of great help as the company evaluates potential acquisitions,
joint ventures and other partnerships that have the potential to leverage
our proprietary technology in the marketplace."
VIASPACE has two main subsidiaries,
Direct Methanol Fuel Cell Corporation, which is developing disposable fuel
cartridges for notebook computers, cell phones and other portable electronic
devices expected to be powered by fuel cells, and VIASPACE Security Inc.
which focuses on maritime/container security, surveillance and automated
threat detection. VIASPACE Security Inc. has a contract from L3 Communications
in the area of container security, and has recently announced a teaming
agreement with Raytheon on security and surveillance. Direct Methanol Fuel
Cell Corporation has previously announced cartridge manufacturing agreements
with Nypro in the US, SEED Corp. in Japan and with Elentec, SMC and Hyun
Won in Korea.

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