Mantra Enters Agreement With a Global Leader in Energy Infrastructure
September 10 2013 - 10:05AM
Marketwired
Mantra Venture Group Ltd. (OTCQB:MVTG)(BERLIN:5MV) and its
subsidiary, Mantra Energy Alternatives Ltd., announced a new phase
of technology development in collaboration with a global leader in
energy and infrastructure projects with over $5 billion in annual
sales(the "Company"). The two groups will collaborate to not only
further develop Mantra's current "Electro-Reduction of Carbon
Dioxide" (ERC) technology, but also to develop new processes that
will see the conversion of carbon dioxide to other valuable
chemical products.
"This Company is a world leader in power generation and carbon
captures systems, and a partnership like this really verifies the
potential of our technology," says Mantra's President Larry
Kristof.
Mantra and its new collaborator will finance and perform
research, while primary research activities will occur at Mantra's
laboratory in Burnaby, B.C. The Company will additionally offer
valuable support and resources in the study of the technical and
economic scale-up for new and existing processes, and as a result
will work closely with Mantra in the design, construction, and
operation of its ERC pilot plant at the Lafarge cement plant in
Richmond, B.C.
Lafarge's Bob Cooper (Vice President, Cement) commented,
"Lafarge is pleased to welcome another industry leader to this
project, which will allow us to build better cities."
Mr. Kristof continues, "The involvement of a world leader in
power generation and carbon captures systems is a key piece of the
puzzle to optimize and commercialize this technology. We are
looking forward to our work together over the coming years."
Mantra is also pleased to announce that these and other
developments can be followed at its new website,
www.mantraenergy.com.
About ERC
ERC, or the "Electro-Reduction of Carbon Dioxide", is a form of
"carbon capture and utilization" (CCU) that converts the pollutant
carbon dioxide into useful, valuable products including formic acid
and formate salts. By utilizing clean electricity, the process
offers the potential for an industrial plant to reduce emissions
while generating a salable product and a profit.
About Mantra Energy Alternatives
Mantra Energy Alternatives Ltd., a wholly owned subsidiary of
Mantra Venture Group Ltd., aims to become a world leader in the
production of high-value, carbon-negative chemicals and fuels.
Mantra is currently developing the ERC process, which will
initially produce formic acid and formate salts from carbon
dioxide, and will eventually be capable of generating a wide
variety of products. The company seeks to simultaneously reduce
anthropogenic carbon emissions, which total over 30 billion tonnes
each year from fuel combustion alone, and generate value.
Mantra Venture Group is a public company quoted on the OTC QB
under the symbol MVTG and on the Berlin Stock Exchange under the
symbol 5MV.
Follow Mantra on Twitter:
http://www.twitter.com/mantraenergy
For more information go to:
http://www.mantraventuregroup.com
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 forward-looking statements.
Contacts: Investor Relations: John Williams (604) 495-1766
(Canada) (502) 214-5932 (USA)mantraenergy@aberdeencap.com Company
Contact: (604) 560-1503info@mantraenergy.com
www.mantraventuregroup.com