Shares of Viaspace Inc (VSPC.OB) rose 11.11% during Tuesday’s trading hours. Investors and traders alike have reacted positively towards the company as several prevalent developments have taken place during the last two trading weeks.
One of the most significant developments took place when VSPC.OB’s wholly owned subsidiary, Direct Methanol Fuel Cell Corporation (DMFCC), signed a formal agreement with Tyco Electronics. Under the stipulation of this agreement DMFCC will design and certify electronic components and systems for Tyco Electronics.
CEO of Viaspace, Dr. Carl Kukkonen, stated “DMFCC is now broadening its market focus to work on special fuel cell applications in addition to producing methanol fuel cartridges that will provide the energy source for laptop computers, mobile phones, and other portable electronic devices to be powered by direct methanol fuel cells. I welcome Tyco Electronics Corporation as a supplier of these products and look forward to a long and mutually beneficial relationship.”
In addition, Viaspace has also entered into an agreement with the University of Connecticut to provide various fuel cell research products to the University. One of these products, VIASENSOR HR-1000, will enable the university to directly measure the humidity level in real time; thus improving the performance of fuel cell products.
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