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District Energy Magazine publishes carbon recycling article featuring Mantra’s ERC technology. |
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SEATTLE, Nov, 2009 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. (‘Mantra’, OTCBB: MVTG, FSE: 5MV), developer of the revolutionary carbon recycling ERC technology, was featured in the Fourth Quarter 2009 edition of District Energy Magazine (District Energy). The article, entitled “Carbon Recycling: An alternative to carbon capture and storage,” takes a closer look at the current economic, regulatory and legal challenges facing carbon capture and storage (CCS), and offers some insight as to the potential advantages of carbon recycling over CCS.
Rowan Oloman, author of the article and freelance writer of Vancouver, B.C., notes: “Several massive hurdles still stand in the way of full-scale CCS deployment. U.K. consulting firm McKinsey figures that adding CCS to the next generation of European power plants could lift their price by up to $1.3 billion each.” While this cost barrier is a significant deterrent to widespread adoption of CCS, Oloman then goes on to explain that legal and regulatory issues are also significant concerns. “While progress is underway in some countries, no country has yet developed the comprehensive, detailed legal and regulatory framework that is necessary to effectively govern the use of CCS.”
In looking at the potential advantages of Mantra’s ERC technology, Oloman highlights: “Compared with CCS, the ERC provides a positive ROI, not an unrecoverable cost. Plus a demonstration ERC unit could be installed at a client’s premises within a year and a commercial plant within two years, much faster than for CCS.”
“This technique differs from CCS in that it uses waste gas stream from fossil fuel combustion as raw material to produce a commodity of value,” added Tony Mirabella, Technical Editor for District Energy. “This approach may not offer any upfront cost savings but may generate revenues to help provide a return on the investment in additional plant equipment.”
In publication since 1915, District Energy is a quarterly magazine that focuses on the technical innovations in the industry, the benefits of urban and institutional district energy systems, and many other issues in association with developing district energy systems. For a complete copy of the article, go to: http://www.districtenergy-digital.org/districtenergy/2009Q4#pg27.
Stay up to date with Mantra on Twitter: twitter.com/mantraenergy
About ERC:
The Electroreduction of Carbon Dioxide (ERC) is an innovative carbon recycling technology that combines CO2 with water to produce highly sought-after materials such as formic acid, formate salts, oxalic acid and methanol- valuable chemicals used in a variety of industrial applications.
It is the goal of ERC to serve as a safe and more economical alternative to carbon capture sequestration (CCS) - the process of capturing carbon dioxide and storing it in deep geological formations, in the ocean or as mineral carbonates.
About Mantra:
Mantra Venture Group Ltd. is a diversified Green Tech company seeking to become a world-leader in the development of commercially viable sustainable technologies. By acquiring the most promising technologies from universities, laboratories and companies and bringing them through to commercialization, Mantra will create significant shareholder value through subsequent acquisitions, spinouts and licensing fees. Current areas of interest for Mantra include: the reduction/recycling of carbon dioxide, alternative energy and wastewater filtration/purification.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 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
Kol Henrikson
1-877-609-2898
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.mantraenergy.com
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Mantra Venture Group Ltd. is pleased to announce a project to further develop its Electroreduction of Carbon Dioxide (ERC) technology with input from 3M |
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SEATTLE, WA, Nov. 3rd, 2009 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce a project to further develop its Electroreduction of Carbon Dioxide (ERC) technology with input from 3M.
The project will evaluate certain parts and materials proposed by 3M and evaluate their suitability for inclusion in the ERC equipment. It will also investigate a new approach to CO2 capture. The parties will share the cost of the project equally.
About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $25 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries.
Visit: http://www.3m.com.
About ERC
ERC carbon recycling, “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 by thermochemistry. ERC has advantages over thermochemistry: it operates at near ambient conditions, and by using renewable energy it can output neutral carbon balance products.
About Mantra:
Mantra and its subsidiaries are active in the green technology marketplace with a focus on profitability through sustainability. The company intends to provide a profitable 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 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
Kol Henrikson
1-877-609-2898
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.mantraenergy.com
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Mantra Welcomes Mr. Jae Choon Ryu as Vice President of Corporate Finance, Korea. |
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SEATTLE, Oct. 5 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. is pleased to announce the appointment of Mr. Jae Choon Ryu as Vice President of Corporate Finance, Korea. Mr. Ryu has over 17 years of experience in the investment industry in Korea, and has raised capital in excess of $50 million USD through public offering and private placement deals.
With the appointment of Mr. Ryu, Mantra started its Phase 1 of a two-phase approach for its expansion into Korea. Mr. Ryu will be responsible for managing partnerships in Korea and securing additional financing for the development of Mantra's CO2 recycling and other technologies. Mantra's regional office is scheduled to open on the first week of November 2009 and it will be located in the Investment Korea Plaza at the KOTRA head office in Seoul.
Upon completion of Phase 1, Mantra will engage in the Phase 2 involving the identification and implementation of a research facility and a demonstration project at a industry site such as a power plant. This initiative will be in collaboration with both Korean provincial government and industry partners, and will be strategically aligned with the numerous incentive programs available within Korea.
Shawn Kim, Vice President of International Business Development of Mantra, comments: "It is with great honour that we make this recent announcement. Mr. Ryu's financing capabilities are second to none, and we are very pleased that he has decided to join our team. In leveraging his experience and prolific contact base in Korea, Mr. Ryu is expected to deliver significant financing and partnership opportunities for Mantra that will lead to the commercialization of our CO2 recycling technology."
Mr. Ryu began his career at Korea Investment & Securities Co., Ltd. where he started as an analyst and was later promoted to the senior management position where he managed private investor accounts. After dedicating 14 years to Korea Investment & Securities Co., Ltd. Mr. Ryu moved to Korea Prudential Investment Securities Co., Ltd in the branch management capacity where he financed over $23 million USD to various Korean companies. Mr. Ryu has also been involved in listing alternative energy companies on the Korean Stock Exchange.
In reflecting on his recent appointment, Mr. Ryu noted "I am very excited to join Mantra at this critical stage as Korean governments and industries are keen in developing carbon reduction and recycling technologies. In my opinion, Mantra's carbon recycling technology fits perfect with Korean geographical and industrial characteristics. Having a presence in Korea will greatly enhance Mantra's exposure to the local industries as they can see, touch, and feel the working technology in their own backyard."
This news comes as the second of a series of anticipated developments resulting from Mantra's recent trip to Korea, and further details will be available shortly.
Stay up to date with Mantra on Twitter: www.twitter.com/mantraenergy
About ERC
The ERC process, 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, ERC operates at near ambient conditions and is driven by electric energy that can be taken from an electric power grid supplied by hydro, wind, solar or nuclear energy (forms of renewable energy).
About Mantra Venture Group Ltd.
Mantra, through its group of sustainable energy, carbon recycling 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
Kol Henrikson
1-877-609-2898
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.mantraenergy.com |
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Mantra Receives Second Funding for Carbon Recycling Technology |
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VANCOUVER, Sept. 30 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has just signed its second Contribution Agreement with the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) in support of its Electroreduction of Carbon Dioxide (ERC) technology.
Mantra received its first contribution from NRC-IRAP in April 2009 with the purpose of establishing the technical basis for electro-reduction of carbon dioxide to formate using Mantra's ERC technology. Mantra's technology has advanced significantly since this initial reward, including an increase in efficiency to 89.66% from 46.24% through the use of a new cathode structure. These encouraging improvements, along with Mantra's continual compliance with program guidelines, contributed to NRC-IRAP's second financial assistance award.
Over the course of this second project, entitled "Electroreduction of Carbon Dioxide Development Project 2," Mantra's objective is to explore suitable materials for the anode used in the electrochemical reactor, develop an efficient and effective method to separate and concentrate the formate product, and develop an efficient and effective method to convert the formate product into formic acid. Mantra will continue to work in collaboration Kemetco Research Inc. to see the project through to completion.
Larry Kristof, President and CEO of Mantra, noted: "The milestones achieved through the first NRC-IRAP contribution really put us at the forefront of the developing market for CO2 recycling technologies. We hope to achieve even greater advancements through this second development funding as we edge ourselves closer and closer towards commercialization."
"Given the heightened safety concerns and public protest currently surrounding carbon sequestration, the Carbon Capture and Storage (CCS) industry has become desperate to find a safe and economical solution for the 27 billion tonnes of CO2 emitted annually by stationary sources" added John Russell, Vice President of Technical Evaluation for Mantra. "We have every right to believe ERC will have the ability to satisfy these demands, and the completion of this second development project should further solidify ERC's position in the emerging market for CO2 mitigation."
Under the terms of the agreement, NRC-IRAP has agreed to contribute up to 50% of costs associated with the development of Mantra's ERC technology, in addition to business and technical advisory and development support. The project is scheduled to begin this month.
Stay up to date with Mantra on Twitter: twitter.com/mantraenergy
About ERC
The ERC process, "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, ERC operates at near ambient conditions and is driven by electric energy that can be taken from an electric power grid supplied by hydro, wind, solar or nuclear energy (forms of renewable energy).
About Mantra Venture Group Ltd.
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.
About NRC-IRAP
NRC-IRAP provides a range of both technical and business-oriented advisory services along with potential financial support to qualified innovative Canadian small- and medium-sized enterprises. Financial assistance for this project is a direct result of the Government of Canada's Economic Action Plan.
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
Kol Henrikson
1-877-609-2898
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.mantraenergy.com |
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