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Mantra Signs Letter of Intent with KC Cottrell Co., Ltd. - A Global Leader in Air Pollution Control |
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SEATTLE, Sept. 28 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has just signed a Letter of Intent (LOI) with KC Cottrell Co., Ltd. (KC Cottrell), a global leader in air pollution control based out of Seoul, Korea. Under the terms of the LOI, Mantra and KC Cottrell will enter into a strategic alliance with the purpose of carrying out the engineering, construction, testing and deployment of a 100 kg-per day Electroreduction of Carbon Dioxide (ERC) reactor.
KC Cottrell is currently in the construction phase of a pilot project that captures and purifies 1/2 tonne of CO2 per day from an industrial power plant. With completion scheduled for December 2009, the company is now looking for an end-use for the concentrated CO2. ERC, Mantra's CO2 recycling technology, represents an ideal candidate for the project as it converts concentrated CO2 into useful products such as formic acid. Formic acid is used in numerous industry applications worldwide and has a current market value of $1,400/tonne.
"After a couple of meetings with KC Cottrell during our recent trip to Korea, the synergies between our two companies became seemingly obvious," says Larry Kristof, President and CEO of Mantra. "KC Cottrell is among the most respected environmental solutions companies on the planet, and we look forward to working together with them under this strategic alliance arrangement."
This news comes as the first of a series of anticipated developments resulting from Mantra's recent trip to Korea. Further details will be available shortly.
About KC Cottrell Co., Ltd.
KC Cottrell has been a world leader in environmental technology for over 35 years. With operations spanning Asia, America and Europe, KC Cottrell's specialties lie in environmental systems (FGD treatment, dust collection and incineration), environmental service (recycling, environmental incineration and reclamation of waste), and manufacturing of high quality industrial facilities. Guided by their vision to lead the global environment industry, KC Cottrell is currently making consistent and bold investments to attract the best global talents and to innovate their systems.
KC Cottrell trades on the SEO stock exchange under the ticker symbol 009440. Annual sales for the fiscal year ending Dec 2008 were $152 Million USD, and the company has a current market cap of $161.7 Million USD.
For more information on KC Cottrell Co., Ltd., please visit their website: http://www.kc-cottrell.com
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:
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 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 Appoints Mr. Shawn Kim and Mr. John Russell to Board of Directors |
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SEATTLE, Sept. 24 /CNW/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce the September 21, 2009 appointment of Mr. Shawn Kim and Mr. John Russell to the board of directors. Mr. Kim and Mr. Russell have extensive experience in finance and technical evaluation (respectively), and will provide invaluable guidance in ensuring the continued success of the company. Larry Kristof, President and C.E.O. of Mantra, comments: "It is with great excitement that we welcome Mr. Kim and Mr. Russell to the board. Both are well respected within our industry and have shown strong leadership skills - making them well suited to lead Mantra." Kristof added: "In the coming months we will be adding even further leadership to the board, including independent directors that are well recognized for their expertise in the green tech sector. The new board will be pivotal as we enter into negotiations with larger corporations, and will ensure that we maintain the high standards and strong reputation that has been established by our performance to date."
In reflecting on his recent appointment, Mr. Kim noted "I am very pleased to be joining the board of directors at this time. The recent trip to Korea has opened many doors for the company, and I look forward to taking an active role in the growth of the company in the days, months and years ahead."
Biographies
John P. Russell
Mr. Russell has over 30 years of experience in the identification, evaluation and marketing of technological resources, and he has authored several scientific publications and made several conference presentations on technological innovation. Mr. Russell has acted as the Vice-President of Technology with ARC Sonics Inc., a specialty engineering firm, since 1995.
Shawn Kim
Mr. Kim has nine years experience in the financial industry where he started as a business analyst. After dedicating 3 years to Mackenzie Financial Corporation in Toronto, he moved to AIG in Korea where he successfully implemented a worldwide marketing model and secured new business alliances. In his most recent role, Mr. Kim served as an International Business Consultant with the District of North Vancouver. Mr. Kim graduated from the University of Western Ontario in 1996 with a BA in Administrative and Commercial Studies.
Stay up to date with Mantra on Twitter: twitter.com/mantraenergy
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 Wraps up ENTECH 2009 with Strategic Relationships, Prospective Financing and International Recognition |
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Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce the success from its Korean business development mission as ENTECH 2009 draws to a close. Over the course of the past several days, Mantra executives met with numerous business representatives and government officials, and several strategic relationships and financing opportunities have been identified.
Over the weekend, Mantra was personally invited by Director Sung from Gyung Buk Province to visit local power plants, tour facilities in Pohang city's state-of-the-art techno-park complex, and to discuss current trends and environmental challenges faced by industry today. In commenting on the visit, Shawn Kim, Vice President of International Business Development for Mantra, noted: "I have seen the capacity of government and large industry leaders to get behind the new technologies and accelerate their pace toward commercialization. We see Mantra's technologies complementing current technologies under development by these industries."
Upon completion of Mantra's visit to Gyung Buck Province, the executives travelled back to Seoul for further discussions with prominent industry leaders to formalize business relationships in the capacity of financing the technology development. Negotiations are currently underway, and Mantra will be releasing updates shortly.
Larry Kristof, President and CEO of Mantra, commented: "Overall, the trip was a huge success. While we expected a significant level of interest in the Electroreduction of Carbon Dioxide technology (ERC) over the course of the week, the enthusiasm it generated as ENTECH 2009's only carbon recycling technology greatly exceeded our expectations. The partnership opportunities currently under negotiation represent a huge step forward for the company, and we look forward to solidifying these relationships in the coming weeks."
Mantra's ERC technology also received significant media coverage during the trip. Mantra was featured in the Korean newspaper: Today Energy on September 16th, and beginning in October, it will be featured in a multi-series of articles in Monthly Environment 21 - Korea's longest running green tech magazine.
Updates, pictures and media articles will be available shortly on Mantra's website: www.mantraenergy.com.
Stay up to date with Mantra on Twitter: twitter.com/mantraenergy
About Environment & Energy Tech (ENTECH) Tradeshow 2009
ENTECH is Korea's largest tradeshow focused on energy and environment. Endorsed by the Korean Ministry of Knowledge Economy and Ministry of Environment, this four-day event focuses on environment (air, water, waste treatment, air pollution), energy (renewable energy, power generation and electricity, energy efficiency, home/industrial energy, transportation energy) and climate (carbon abatement technologies) sectors. Two hundred and fifty companies will be featured over the course of the event, and over 34,000 people are expected to attend. To learn more, visit the ENTECH 2009 website: http://entechkorea.net/eng/mn01/mn01_01.php
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, 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.
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 environmentally responsible investment for its shareholders.
Mantra's recent developments have resulted in many governments and leading industrial companies taking an interest in ERC. Mantra is currently in discussions regarding various grants and other support initiatives offered by international governments, as well as possible pilot projects with large industrial companies.
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
For further information: 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 Off to Great Start in Korea |
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SEATTLE, WA, Sept. 18 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has received overwhelming support for its carbon recycling technology during a series of meetings earlier this week in Seoul, Korea.
On September 12th, Executives at Mantra embarked on a 10-day business development mission to Busan and Seoul, Korea. Mantra’s itinerary included meetings and presentations with several prospective industry partners, on-site meetings with industry officials and financing groups, and participation in ENTECH 2009, Korea’s largest tradeshow focused on energy and environment.
Mantra spent the early portion of the trip meeting with government officials and industry leading organizations in both Busan and Seoul, and the company was very pleased with the degree of interest expressed for its Electroreduction of Carbon Dioxide (ERC) technology. Larry Kristof, President and CEO of Mantra, notes: “While we are still only in the early stages of our trip, a number of proposed financing opportunities and development partnerships came to the surface during our initial meetings. Each of these proposals would considerably fast track Mantra’s ERC technology if finalized, and we will further evaluate these opportunities in the coming days.”
In commenting on Mantra’s hosts for the event, Kristof added: “The hospitality we have received from both Kyung Suk Kim, the province of British Columbia’s trade and investment representative in Korea, and the Korea Trade-Investment Promotion Agency (KOTRA) has been nothing short of exemplary thus far, and we would like to thank them very much for their generosity and support.”
Mantra is now in the midst of ENTECH 2009, taking place at the Busan Exhibition and Convention Center (BEXCO) from September 16 to19. Over the next few days, Mantra and seven other companies from British Columbia, Canada, will have kiosks in the BC Pavilion to showcase their respective technologies. In addition, Mantra will be participating in the BC Networking Seminar, where companies deliver presentations to 50 pre-selected Korean Companies and business-matching opportunities organized by BC’s representative office in Korea. Of the two hundred and fifty companies participating at this year’s show, Mantra is the only company featuring a carbon recycling alternative to CCS with a working prototype.
Iain Black, Minister of Small Business, Technology and Economic Development for British Columbia, commented: “Many Asian countries, especially Korea, are adopting green energy and are looking overseas for the technology. This is one of the reasons why our government is increasing B.C.’s presence in Asia – to help open doors for our companies.”
According to the Hong Kong and Shanghai Banking Corporation (HSBC), South Korea is directing 80 per cent of its economic stimulus spending towards green projects. Fifty trillion won, approximately C$44 billion, will be spent on green buildings, research on renewable energy, and sustainable transportation through 2011- representing a significant opportunity for Mantra.
Mantra will be posting another business development report upon its return from Korea, and pictures of the event will be available at www.mantraenergy.com.
Stay up to date with Mantra on Twitter: twitter.com/mantraenergy
About Environment & Energy Tech (ENTECH) Tradeshow 2009
ENTECH is Korea’s largest tradeshow focused on energy and environment. Endorsed by the Korean Ministry of Knowledge Economy and Ministry of Environment, this four-day event focuses on environment (air, water, waste treatment, air pollution), energy (renewable energy, power generation and electricity, energy efficiency, home/industrial energy, transportation energy) and climate (carbon abatement technologies) sectors. Two hundred and fifty companies will be featured over the course of the event, and over 34,000 people are expected to attend. To learn more, visit the ENTECH 2009 website: http://entechkorea.net/eng/mn01/mn01_01.php
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, 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.
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 environmentally responsible investment for its shareholders.
Mantra's recent developments have resulted in many governments and leading industrial companies taking an interest in ERC. Mantra is currently in discussions regarding various grants and other support initiatives offered by international governments, as well as possible pilot projects with large industrial companies.
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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