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Energy Industry News Releases

New Industry has Potential to Produce Tens of Billions of Dollars in Revenue Over the Next Five Years

(EMAILWIRE.COM, May 29, 2008 ) PASADENA, CA — VIASPACE Inc. (OTCBB: VSPC) today provided a brief overview of both fuel cells as well as the business model for fuel cell cartridges which VIASPACE’s subsidiary, Direct Methanol Fuel Cell Corporation (“DMFCC”), is pursuing. VIASPACE and DMFCC CEO, Dr. Carl Kukkonen, states, “Fuel cartridges are the consumable in the fuel cell business. Fuel cells are like a razor with fuel cartridges as the razor blades. VIASPACE and DMFCC are helping to build a new industry that, while it does not exist today, has the potential to produce tens of billions of dollars in revenue over the next five years. “

“If the large portable electronic OEMs are successful in developing fuel cell powered portable electronics, five to 10 billion cartridges per year could be sold with potential profits exceeding $1 billion per year. There are plenty of risks, but the potential profits are huge.”

An overview of both fuel cells and the cartridges business model is outlined below.

1. Fuel cells are electrochemical engines that produce electricity directly from the fuel without burning. Electricity is made very efficiently and fuel cells are a green technology
2. The first market for fuel cells is likely to be in portable electronics. Compared to batteries, fuel cells enable a longer device operating time in addition to instant recharging, by replacing the disposable fuel cartridge without the need for an electrical plug and several hours to recharge. The convenience and increased productivity of new power-hungry portable electronic devices such as smart phones currently drives the market.
3. Direct methanol fuel cells seem to represent the fuel cell of choice by most portable electronics manufacturers. Samsung, Sony, Toshiba, Hitachi, Panasonic and other large OEMs have already demonstrated that notebook computers, mobile phones and other devices can be powered by direct methanol fuel cells. In fact, we believe that they are spending hundreds of millions of dollars to develop fuel cells and the products that use them.
4. International safety regulations developed by Underwriters Laboratories and the Japanese Electric Manufacturers Association have specified that a fuel must be contained in a safe, sealed and preferably disposable container called a cartridge. DMFCC is a member of these international committees.
5. With these safety regulations, the International Civil Aviation Organization and the US Department of Transportation have recently allowed direct methanol fuel cells and cartridges to be carried on airplanes by passengers and aircrew. This is a major breakthrough.
6. According to industry sources, there were 100 million notebook computers and 1.1 billion mobile phones produced worldwide in 2007, and these figures are projected to rise to 160 million notebooks and 1.8 billion mobile phones in about five years. If the OEMs succeed in their product offerings, it is projected that up to 22% of notebook computers and 2.5% of mobile phones will be powered by fuel cells in about five years. This leads to a projection of 91 million fuel cell powered devices sold. Independently, Frost and Sullivan have projected that 71 million fuel cell powered portable electronic devices will likely be sold in 2011. OEMs are currently spending hundreds of millions of dollars to try and capture this large new market.
7. Each notebook computer and mobile phone powered by a fuel cell is projected to use between two and four cartridges per month over its three-year lifetime. If the OEMs are successful, this level of cartridge usage amounts to five to 10 billion cartridges per year, approximately five years from introduction. This is the market that DMFCC is pursuing.
8. While specific cartridge pricing has not yet been determined, cartridges are projected to sell for between $3.00 and $5.00 each, and the overall cartridge industry could be worth as much as $15 billion to $30 billion per year at the retail level. Consequently, cartridge manufacturing and distribution profits could be in the billions of dollars per year. That is why DMFCC is in the cartridge business.
9. DMFCC has an established global network of qualified cartridge manufacturing partners that are already trusted suppliers to many OEMs. DMFCC is already working with Samsung and other companies on cartridges.
10. The OEMs want to sell notebook computers and mobile phones and, while most do not want to manufacture and sell cartridges, they do want cartridges to be widely available. DMFCC's investment cost in the cartridge business is much lower than the costs being expended by OEMs on developing the fuel cells. DMFCC’s manufacturing partners are also sharing in the cartridge development costs.
11. In addition to providing cartridges, DMFCC also has the patents on direct methanol fuel cells that most OEMs will need to bring their DMFC products to market. DMFCC has stated that they are willing to provide this patent protection to the OEMs in exchange for a cartridge supply agreement. This is another incentive for OEMs to work directly with DMFCC.
12. DMFCC is, nonetheless, dependent on the OEMs’ success in bringing fuel cell powered portable electronics to the marketplace. In order to benefit from their success, DMFCC must be willing to take these risks together with the OEMs.


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 www.VIASPACE.com, or contact for Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR@VIASPACE.com.

Press contact: Carl Kukkonen 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.




For an in-depth analyst report, please visit : www.WallStreetStockReview.com

Pride International, Inc.
(NYSE:PDE)
Current Price (44.73)
www.WallStreetStockReview.com
HOUSTON, May 27, 2008 -- Pride International, Inc. (NYSE:PDE - News) today announced that Kevin C. Robert, Senior Vice President, Marketing and Business Development, will address attendees at the Deutsche Bank 2008 Energy & Utilities Conference in Miami Beach, Florida. Mr. Robert is scheduled to present on Wednesday, May 28, 2008 at 2:50 p.m. Eastern Time. Pride International, Inc. provides offshore and onshore contract drilling and related services to oil and natural gas companies worldwide. The company offers its services through the use of mobile offshore drilling and land-based drilling rigs, and work over rigs. As of February 28, 2007, it owned 272 rigs, consisting of 2 deepwater drillships, 12 semisubmersible rigs, 28 jackup rigs, 16 tender-assisted, barge and platform rigs, and 214 land-based drilling and workover rigs. In addition, the company provides rig management services, including technical drilling assistance, personnel, repair, and maintenance services, as well as drilling operation management services. It has operations in South America, the Gulf of Mexico, the Mediterranean Sea, west Africa, the Middle East, and the Asia Pacific. The company was founded in 1966 and is based in Houston, Texas.

Emclaire Financial Corp.
(OTC BB:EMCF)
Current Price (26.95)
www.WallStreetStockReview.com
EMLENTON, Pa.-- May 27--Emclaire Financial Corp. (OTCBB:EMCF - News), the parent holding company of The Farmers National Bank of Emlenton, headquartered in Emlenton, Pennsylvania, today announced that they have reached a definitive agreement with Elk County Savings and Loan Association, headquartered in Ridgway, Pennsylvania, to acquire Elk County Savings and Loan in a conversion merger transaction. Emclaire Financial Corp. is the parent company of the Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community commercial bank headquartered in Emlenton, Pennsylvania, operating eleven full service offices in Venango, Butler, Clarion, Clearfield, Elk and Jefferson Counties, Pennsylvania. The Corporation’s common stock is quoted on and traded through the OTC Electronic Bulletin Board under the symbol “EMCF”. For more information visit the Corporation’s web site at www.emclairefinancial.com.
Allos Therapeutics Inc.
(Nasdaq: ALTH)
Current Price (6.11)
www.WallStreetStockReview.com
WESTMINSTER, Colo.--May 27--Allos Therapeutics, Inc. (Nasdaq:ALTH - News) announced the pricing of an underwritten public offering of 10,800,000 shares of newly issued common stock at a public offering price of $5.64 per share. The closing of the offering is expected to take place on May 29, 2008, subject to the satisfaction of customary closing conditions. The Company has granted the underwriters a 30-day option to purchase an additional 1,620,000 shares of common stock from the Company to cover overallotments, if any. Allos Therapeutics, Inc., a biopharmaceutical company, engages in the development and commercialization of small molecule drugs for cancer treatments in the United States. The company has three product candidates in development: EFAPROXYN (efaproxiral), PDX (pralatrexate), and RH1. Its lead product, EFAPROXYN (efaproxiral), a synthetic small molecule designed to sensitize hypoxic, or oxygen-deprived, tumor tissue during radiation therapy is in phase III clinical program for brain metastases from breast cancer; Phase I clinical program for non small cell lung cancer with concurrent chemotherapy; and Phase 1b/2 clinical program for cervical cancer. The company’s PDX (pralatrexate), a small molecule chemotherapeutic agent, which is in Phase I clinical program for stage IIIB-IV non small cell lung cancer; Phase 1/2 clinical program for non Hodgkin’s lymphoma and Hodgkin's disease; and Phase II clinical program for peripheral t-cell lymphomas. Its RH1, a small molecule chemotherapeutic agent bioactivated by the enzyme DT-diaphorase, which is in Phase I clinical program for lung, colon, breast, and liver tumors. Allos Therapeutics was founded in 1992. It was formerly known as HemoTech Sciences, Inc. and changed its name to Allos Therapeutics, Inc. in 1994. The company is headquartered in Westminster, Colorado.

ABC Funding, Inc.
(OTC BB: AFDG)
Current Price (0.67)
www.WallStreetStockReview.com
HOUSTON--May 27--ABC Funding, Inc. (“ABC” or the “Company”) (OTCBB:AFDG - News) announced today that it has entered into a definitive Stock Purchase and Sale Agreement (“SPA”) to acquire all of the outstanding capital stock of Voyager Gas Corporation (“Voyager”) for total consideration of $42 million. Such consideration will consist of $35 million in cash (subject to adjustment) and 17.5 million shares of ABC’s common stock, having an agreed upon value of $7 million. ABC will own an approximate 100% working interest in the oil and gas properties of Voyager and will operate all of the properties. The Company expects to close the acquisition on or before August 20, 2008. ABC Funding, Inc. does not have significant operations. It intends to operate in the oil and natural gas industry by making acquisitions or by participating in strategic joint ventures. The company is based in New York, New York.


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