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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
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www.mantraenergy.com |
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New alliance to develop reactor that uses carbon capture |
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 Mantra Venture Group and Korean air control company team up on new technology expected to be powered by renewable energy. |
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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
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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
Diese E-Mail-Adresse ist gegen Spambots geschützt! JavaScript muss aktiviert werden, damit sie angezeigt werden kann.
www.mantraenergy.com
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