| Mantra Venture Group Ltd. acquires carbon dioxide reduction process developed at the UBC |
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Seattle, March 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Mantra Venture Group Ltd. (OTCBB: MVTG - FSE: EDV 5MV) has acquired a technology developed by Professor Colin Oloman of the University Of British Columbia that can be used to convert carbon dioxide gas emissions into products for use in several industrial applications, including fuel cells. Larry Kristof, President and CEO of Mantra, said: "The technology is the first step in a planned closed-loop process to convert CO2 emissions into liquid fuel for fuel cells. This acquisition is a highlight of our recent strides in building Mantra's sustainable technology program. We plan to license or acquire additional complementary technologies to develop our portfolio of forward looking energy systems". A patent application for the technology, a process for the "Continuous Co-Current Electrochemical Reduction of Carbon Dioxide", has been filed and published under the Patent Cooperation Treaty (PCT). The technology was developed by Colin Oloman and Dr. Hui Li in the Clean Energy Research Center (CERC) at U.B.C. in Vancouver. Dr. Oloman, who says that he is "keen to move ahead with the work on carbon dioxide", has agreed to help Mantra with the development and optimization of the technology in order to scale up the electrochemical process for commercial application. Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is set to enter the burgeoning 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, 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 OTCBB under the symbol MVTG and 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, including, without limitation, Mantra Venture Group's recent Registration Statement on Form 10-QSB, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. CONTACT: Kol Henrikson, |
