Mantra Enters Agreement With a Global Leader in Energy Infrastructure
BURNABY, BRITISH COLUMBIA -- (Marketwired) -- 09/10/13 -- Mantra
Venture Group Ltd. (OTCQB:MVTG)(BERLIN:5MV) and its subsidiary,
Mantra Energy Alternatives Ltd., announced a new phase of technology
development in collaboration with a global leader in energy and
infrastructure projects with over $5 billion in annual sales(the
"Company"). The two groups will collaborate to not only further
develop Mantra's current "Electro-Reduction of Carbon Dioxide" (ERC)
technology, but also to develop new processes that will see the
conversion of carbon dioxide to other valuable chemical products.
"This Company is a world leader in power generation and carbon
captures systems, and a partnership like this really verifies the
potential of our technology," says Mantra's President Larry Kristof.
Mantra and its new collaborator will finance and perform research,
while primary research activities will occur at Mantra's laboratory
in Burnaby, B.C. The Company will additionally offer valuable support
and resources in the study of the technical and economic scale-up for
new and existing processes, and as a result will work closely with
Mantra in the design, construction, and operation of its ERC pilot
plant at the Lafarge cement plant in Richmond, B.C.
Lafarge's Bob Cooper (Vice President, Cement) commented, "Lafarge is
pleased to welcome another industry leader to this project, which
will allow us to build better cities."
Mr. Kristof continues, "The involvement of a world leader in power
generation and carbon captures systems is a key piece of the puzzle
to optimize and commercialize this technology. We are looking forward
to our work together over the coming years."
Mantra is also pleased to announce that these and other developments
can be followed at its new website, www.mantraenergy.com.
ERC, or the "Electro-Reduction of Carbon Dioxide", is a form of
"carbon capture and utilization" (CCU) that converts the pollutant
carbon dioxide into useful, valuable products including formic acid
and formate salts. By utilizing clean electricity, the process offers
the potential for an industrial plant to reduce emissions while
generating a salable product and a profit.
About Mantra Energy Alternatives
Mantra Energy Alternatives Ltd., a wholly owned subsidiary of Mantra
Venture Group Ltd., aims to become a world leader in the production
of high-value, carbon-negative chemicals and fuels. Mantra is
currently developing the ERC process, which will initially produce
formic acid and formate salts from carbon dioxide, and will
eventually be capable of generating a wide variety of products. The
company seeks to simultaneously reduce anthropogenic carbon
emissions, which total over 30 billion tonnes each year from fuel
combustion alone, and generate value.
Mantra Venture Group is a public company quoted on the OTC QB under
the symbol MVTG and on the Berlin Stock Exchange under the symbol
Follow Mantra on Twitter: http://www.twitter.com/mantraenergy
For more information go to: http://www.mantraventuregroup.com
Forward-looking statements: Except for the historical information
contained herein, the matters discussed in this press release are
forward-looking statements. Actual results may differ materially from
those described in forward-looking statements and are subject to
risks and uncertainties. See Mantra Venture Group's filings with the
Securities and Exchange Commission, which identify specific factors
that may cause actual results or events to differ materially from
those described in forward-looking statements.
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