Mantra Sees Early Success in Korea

SEATTLE, WA, Sept. 17 /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, Executive 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 Kyung Suk Kim and the rest of 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

< Prev		Next >

Main Menu