VIASPACE, Inc. (VSPC.OB) is Ready for a Growing Maritime Security Market

Federal agencies and private companies are spending significant resources for protection of seaports, inspection of secure cargo containers and improve overall maritime security operations. VIASPACE is well prepared to meet this need.

Seaports and waterways are highly vulnerable because of their vast size and accessibility. A report on maritime security by the United States Government Accountability Office affirms that the risks are significant because the nation’s economy relies on the safe passage of cargo. An attack on a seaport could cause a slow down and have consequences in the billions of dollars.

The American Association of Port Authorities states that the US has over $1.3 billion worth of goods moving in and out of the US ports everyday. Approximately 2 billion tons of cargo is moved annually and this value is expected to double in the next 15 years.

The Department of Homeland Defense has spent $28 billion over a 22-month period on security related goods and services, and has issued more then 115,000 contracts.

VIASPACE is targeting this growing market and pursuing opportunities where their real-time sensor fusion technology can deliver substantial benefit in securing ports and cargo. VIASPACE Security is leveraging the SHINE inference engine along with its own development efforts to deliver high performance, real-time inference and sensor data fusion-based technologies, products and services.

AJ Abdallat, the President of VIASPACE Security, stated “There is a major need for technology solutions to improve the security of seaports and cargo worldwide and we believe sensor data fusion technology will play a key role. We see this as a tremendous opportunity for VIASPACE to draw on our proprietary technology and system design capabilities to develop leading edge maritime security solutions and establish a leadership position in this growing market.”

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