| Mantra to Target $1.5 Billion Steel Pickling Market in 2009 |
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SEATTLE, Dec. 1 - Mantra Venture Group Ltd.
("Mantra", OTCBB: MVTG, FSE: 5MV) announces that the company will
launch an initiative in early 2009 to implement the use of their
proprietary carbon reduction technology (ERC) by steel manufacturers
for the removal of rust and oxidation (pickling) from their steel
products. The ERC process converts CO2, a harmful steel production
byproduct, into valuable formic acid that can replace the use of
hydrochloric acid in steel pickling. The steel industry currently
spends $1.5 billion annually on hydrochloric acid for this purpose. By
adopting Mantra's ERC technology, a steel producer can effectively
reduce the release of harmful CO2 while simultaneously generating
organic acid that they would otherwise have had to purchase.
OTCBB: MVTG FRANKFURT: 5MV "This is a win/win/win for a steel producer, the environment and perhaps, our shareholders," said Larry Kristof, CEO of Mantra Energy Group Ltd. "By using Mantra's technology, steel producers can reduce a dangerous emission that is the primary cause of Global Warming and are
immediately rewarded with biodegradable formic acid that replaces yet
another harmful chemical - hydrochloric acid - for which the industry
is spending $1.5 billion a year."
"To make an illustrative analogy to the automotive industry, this would be like capturing car emissions, preventing them from ever entering the atmosphere, and then turning that noxious waste into gasoline. Better yet, at the end of the use of this new fuel, you would be left with a biodegradable fluid that doesn't harm the environment," Kristof added. Mantra's 2009 initiative comes on the heels of recent announcements that separate the company from others in the sustainability industry including invitations to a prestigious Clean Technology summit and the creation of an elite management team. Moreover, the company views the enormous steel industry as but one profitable realm in their near future and expects to implement ERC technology in a wide range of applications including next generation fuel cells, feedstock preservatives, de-icing solutions, baking soda and more. Mantra also believes they can be competitive in the areas of stored power, such as batteries, and will communicate any new developments as they occur. About ERC The ERC process, defined as the Electrochemical Reduction of Carbon dioxide, combines captured carbon dioxide with water to produce high value materials, such as formic acid and formate salts, which are conventionally obtained from the thermochemical processing of fossil fuels. However, ERC has an advantage over the established thermochemical methods for converting carbon dioxide to liquid fuels. While
thermochemical reactions must be driven at relatively high temperatures
that are normally obtained by burning Fossil Fuels About Mantra: Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable and, more importantly, socially and environmentally responsible investment for its shareholders. Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol EDV 5MV. 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 the forward-looking statements. Investor Relations: |
