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Mantra
Venture Group Ltd. Inc. (OTCBB:MVTG)
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Dear Reader,
Mantra Venture Group Ltd. Inc. (OTCBB: MVTG), our featured company today,
is a true pure play in the GREEN Sustainable
Energy Sector. Mantra's competitive advantage lies in its ability
to flexibly pair its investment and scientific expertise to guide promising
new technologies through development and into the market. Based in the
Pacific Northwest, a hotbed of innovation in sustainability, Mantra is
uniquely positioned to locate, incubate and capitalize upon revolutionary CLEAN - GREEN technologies. Please take a few moments to take a look at this exciting
company.
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About Mantra Venture Group |
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Mantra Venture Group Ltd. Inc., "Mantra""MVTG" seeks to be a
world-leader in the development of commercially viable sustainable technologies
that will minimize the impact of human activity on our climate, environment
and health. Mantra’s aggressive growth strategy will see the company
create a significant return on investment for investors by becoming a key
contributor to the global effort for environmental sustainability and,
in particular, carbon dioxide management and reduction.
MANTRA
and ERC
In November 2007, Mantra acquired its flagship technology, a
chemical process developed at the University of British Columbia’s Clean
Energy Research Center. The reactor at the heart of the process, referred
to as the electrochemical reduction of carbon
dioxide, or ERC, has been
successfully proven through small-scale prototype trials. ERC offers
an innovative solution to reduce the impact of carbon dioxide (CO2) on
Earth’s environment by converting CO2 into materials with a broad range
of commercial applications, including a fuel for a next generation of fuel
cells.
Powered by electricity, the ERC process combines captured carbon dioxide
with water to produce high value materials, such as formic acid, formate
salts, ammonium formate, oxalic acid and methanol, that 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.
FUEL
CELLS
In fuel cells liquid fuels are indirectly combined with oxygen to form
carbon dioxide and water, while generating electricity. This process is
known as electro-oxidation. The complimentary nature of ERC and
electro-oxidation makes it possible to use ERC in a regenerative fuel cell
cycle, where carbon dioxide is converted to a fuel that is consumed in
a fuel cell to regenerate carbon dioxide.
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.
Bridging the gap between innovation and
investment.
By aggressively seeking out clean tech innovations and renewable energy
solutions, MVTG aims to connect investors with exciting opportunities that
meet today’s global environmental challenges. Mantra has acquired the
intellectual property (patent application) for an alternative to carbon
capture and storage, the CO2 Converter, a process that converts carbon
dioxide into a fuel. Mantra has also secured an exclusive option to Signal Smoothing, a technology that can convert power from variable
sources (i.e.. wind and solar) into grid standard. And the Mantra Research
& Development team continues to investigate opportunities in cellulosic
ethanol, bio-gas from biomass, and clean coal technology.
Mantra Venture Group provides people and businesses
with the means to achieve a significant reduction in
their energy consumption and
associated environmental impact.
Mantra's role is primarily financial;
inviting investors to discover the remarkable opportunities in sustainability.
In addition to providing the subsidiary
companies with corporate oversight and guidance, the company has a
secondary role to engage the community
through education. MVTG will achieve its mission by licensing and commercializing
both proven and innovative technologies.
Examples of technologies and projects that MVTG is currently
developing and investigating:
- CO2
capture, sequestration, underground injection
- Evaluation
of the marketplace for carbon reduction vendors
- Increasing
power efficiencies
- Wind,
ocean & geothermal power
- Biomass
gasification
- Fuel
cell technology commercialization
- Clean
coal technologies
- Residential/commercial/industrial
Energy Efficiency
- Low
carbon transportation alternatives
Subsidiaries
Mantra
China will be the vehicle for the Mantra group of companies to establish
a strong brand presence in Asia, identify new markets for our products,
and build strategic alliances with technology developers, manufacturers
and financiers. The new venture also aims to establish Mantra as a North
American distributor of innovative green technologies developed and produced
in Asia.
Mantra
Wind intends to establish wind farms, initially in British Columbia,
and later across North America. The company is also engaged in testing
and demonstrating new technologies related to sustainable wind energy production.
Mantra
Media provides media and public relations services to companies and
their clients. These services will assist in the presentation of the complex
field of sustainability and new green technology. This will help companies
be recognized for their conservation practices.
The
company will develop a carbon marketplace where:
- The public and users are educated about sustainability
options.
- Homeowners and businesses can initiate projects,
to be bid on by product/service vendors.
- Homeowners and businesses may be rewarded for
savings in CO2
Climate
ESCO - Climate Energy Services Company - will provide consulting to
industry, business and to major projects pertaining to the implementation
of alternative energy technologies and energy saving solutions.
Mantra
Energy actively will seek out alternatives in the energy field. Examples
of alternative energy sources are:
- Fuels (e.g. Hydrogen, Biomass)
- Fuel utilization (e.g. fuel cells rather than
combustion)
- Energy generating technologies (e.g. tidal power,
run-of-river)
- Efficient use of energy (e.g. improved 3-phase
power management)
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Technology and Innovation |
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SOME PRIMARY EMERGING TECHNOLOGIES
IN MANTRA'S R&D SPHERE
Carbon Capture & Sequestration
Large industry participants (including BP and GE) are building energy-production
gasification plants that will capture over 400 million tons of carbon dioxide
annually. Sequestration can be done in geological rock formations, including
aging oil wells (prolonging their lifespan) and aquifers. Also, carbon
dioxide can be electrochemically reduced to a valuable chemical.
Fuel Cells
Fuel cells are a novel way to extract electrical energy from selected
fuels (Hydrogen is the most common one) without combustion. It holds the
eventual promise of replacing many of the combustion processes which now
power industry, move vehicles, and heat our homes. Without combustion fuel
cells do not produce CO2, a green house gas (GHG). It is a new technology
developing quickly, with both small and large installations already in
use.
The modern fuel cell is approximately 50% efficient in extracting power
from its fuel. This compares favorably with the internal combustion engine
which has been under development for more than a century and is now about
25% efficient. The economics of fuel cell technology is rapidly improving
and has the potential of replacing up to one third of the Fossil Fuels
used today.
Gasification
Gasification is a process that converts coal, petroleum or Biomass,
for example, into a synthesis gas, or syngas - a more efficient and cleaner
fuel than the original material. The trend is towards gasification, that
uses low-cost fuels, for the combined generation of heat and power at industrial
installations.
Biofuels
Biofuels are fuels produced from organic sources, such as soy, maize
etc. and can be used as a replacement for Fossil Fuels. The present market
for biofuels is 16 million gallons annually, representing 1% of all transportation
fuels. According to the International Energy Agency biofuels may account
for 7% of global transportation energy by 2030.
Wind Composite Towers
We have only begun to tap the potential of economically viable wind
power, and new composite materials allow larger turbines and offshore installations
that will more than triple the potential for economically viable installations
(100,000 MW in Canada alone).
Signal Smoothing
The complete unit is suitable for
a 1.5 MW wind Turbine.
Mantra has secured an exclusive option to a new technology developed
at the University of Toronto that can
take power developed from variable sources (e.g. wind farms, tidal, etc.)
and converts that power source into “grid standard.” This technology is
not new but the ability to drive the technology at 1-3% savings in efficiency
is. Over the life of an installation these savings will be substantial.
The global wind energy industry is now worth $6
billion and is growing rapidly, projected to be worth $37 billion in
2010.
Global installed capacity is expected to reach 95 000
MW by 2008 (up from 14,000 MW in 2000),
and will continue to climb to 194,000 MW by 2013.
The "grid" describes the
system of wires and pipelines that carry energy, in the form of electricity
or Natural Gas, to our homes and businesses. Currently 85% of our greenhouse
gas emissions come from energy production and use, the majority of which
uses the grid to funnel energy to our homes, offices and industries. Converting
the grid system to be more reliant on renewable energy sources for power
is one key step towards creating a sustainable energy market.
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The Renewable Energy Market |
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Harnessing the power of the wind and the
sun.
Investment in the renewable energy market
is rising rapidly. A report in 2007 from Solarbuzz, a Solar Energy consultancy,
states that the photovoltaic (PV) industry generated $17.2 billion in global revenues in 2007.
Worldwide solar installations have a reached a
high of 2,826MW, representing a 62% growth over 2006.
As far as wind power is concerned, in 2007, the
U.S. wind energy industry installed 5,244 megawatts (MW), expanding the
nation’s total wind power Generating Capacity by 45% over 2006 and
injecting an investment of over $9 billion into the economy.
It is not unlikely that the U.S. will see an increase
of 16,000 wind turbines per year with a value of approximately $22 billion.
applications... for example;
fuel additives
Diesel manufacturers in Europe and Japan are concerned
with NOx emissions from diesel trucks and cars. A new fuel additive – ammonium
formate – shows great promise and is being tested. It is likely to be adopted
and would be a large market worldwide.
The ERC process can be adapted
to produce ammonium formate
The market for formic acid in steel making
ERC’s primary purpose is to convert CO2, a waste product of burning
fossil fuels and an environmental problem, into a valuable product, formic
acid. But if the ERC process is both economic and successful it is likely
to be widely accepted as a way for industry to deal with exhaust gas from
power production; there then arises the danger of overproduction of formic
acid, that is, in excess of market demand. This would limit the value of
the product and might act as a barrier to the wider spread of an otherwise
valuable technology. So it is useful to anticipate the issue and look beyond
the current market to ask if there are future applications that can take
up a much larger volume of formic acid. This question quickly becomes:
can the strongest of the organic acids (formic acid) replace the use of
strong acids like hydrochloric (HCl acid) and sulfuric. Formic
acid is much more environmental friendly.
The market discovered:
On MVTG investigation, there is an application in hot-rolled
steel pickling (cleaning the oxidized surface of hot-rolled steel during
the manufacturing process in a steel plant), this is one of the largest
uses today of HCl acid 2. Formic acid can directly replace hydrochloric
acid in the steel pickling process and pulp and paper industry. The market
for hydrochloric acid is in the hundreds of millions of tons annually. Formic acid is potentially more attractive in this application than
HCl because:
1. It
gives a better surface quality (HCl is an aggressive acid and can pit the
steel)
2. Less
iron is lost from the steel surface
3. Less
rinse water is needed after pickling
4. A
caustic rinse is necessary to neutralize the HCl; no neutralizing rinse
is required with formic acid
5. Corrosion
inhibitors are not required to reduce the amount of steel etching
6. HCl
is so aggressive that plant equipment gets corroded quickly; formic acid
results in a longer plant life
7. Formic
acid is bio-degradable
8. Formic
acid can be reconcentrated and reused from the aqueous spent solution,
not HCl
9. Precipitated
iron formate can be recycled back into the blast furnace to recover iron
that was lost
10. Process
water can be recycled more easily.
ERC also produces O2 as a byproduct: the oxygen goes to the blast
furnace where it will improve combustion. There are other large scale industrial
applications of formic acid that are being considered and investigated
by Mantra.
... other publicly
traded companies involved in clean fuel technologies ...
Clean Diesel Techs Inc. (NASDAQ: CDTI) - Clean Coal Technology
Inc., (PK: CCTC)
INNOSPEC Inc. (NASDAQ: IOSP) - Johnson Matthey PLC Inc.
(PK: JMPLY)
Lubrizol Inc. (NYSE: LZ) - DOW Chemical Inc. (NYSE: DOW)
Praxair, Inc. (NYSE: PX) - EI DuPont de Nemours &
Co. (NYSE: DD)
Aventine Renewable Energy Holdings, Inc. (NYSE: AVR)
- Pacific Ethanol Inc. (NASDAQ: PEIX)
Clean Energy Fuels Inc. (NASDAQ: CLNE) - Verenium Corporation
(Nasdaq: VRNM)
T H E C A R B
O N F O O T P R I N T
Low Carbon
Transportation
Mantra is investigating the use of several alternatives to carbon-based
fuels to power motor vehicles. One is the use of energy rechargeable lithium
Battery cells in a serial or parallel (or both) configuration to power
cars as an alternative to gasoline or Ethanol. The other is the use of
Hydrogen, it has been established that hydrogen is clean and environmentally
friendly but its lack of infrastructure is a problem.
Residential/Commercial
Ecological Footprint
Through its subsidiary, Climate ESCO - Climate Energy Services Company
- will provide consulting to industry, business and to major projects pertaining
to the implementation of alternative energy saving solutions. There are
tens of thousands of large companies of all kinds everything from Retail,
Hotels, Restaurants, Car Dealers and virtually every business will be looking
for Green Energy Solutions and ways to maximize energy efficiencies and
to accomplish CO2 capture, sequestration, underground injection.
Bio-gas
from Biomass
Mankind’s oldest form of thermal energy is from the burning of wood
and other Biomass materials. Nowadays, given the concerns about Global
Warming and pollution, the incineration of great volumes of biomass fuels
generated from farming and forestry is no longer desirable. The modern
alternative available to us through technology is to use these fuels in
a contained system – a tank or biodigester – where selected bacteria deconstruct
the fuels to produce bio-gas (sometimes called synthetic or syngas). This
gas can easily be processed into a clean fuel and piped to its end use.
Mantra is currently working with a major client that is determined
to become carbon neutral. This means that they must compensate
for their unavoidable activities, to achieve a “zero net effect”. We have
proposed that locally produced agricultural biomass be treated and digested
in order to produce bio-gas which meets the industry’s energy needs. A
further benefit is that emissions of harmful gases into the environment
resulting from decaying agricultural waste are eliminated, and farmers’
need to dispose of the biomass materials is resolved. This project is currently
under negotiation.
A bit more
on Fuel Cells
Fuel cells are now being recognized for their remarkable potential.
Because they can use clean fuels (like Hydrogen gas, methanol, and others),
and consume their fuel without combustion, they are clean in operation.
The exhaust from hydrogen fuel cells is environmentally desirable, it is
water. They are non- polluting and do not add GHGs to the environment.
The most advanced models are inherently more efficient than power production
based on combustion: they extract more power from their fuels than power
plants that rely on burning Fossil Fuels.
Mantra is committed to fuel cell technology, but is investigating the
wide field of possible applications. While there are fuel cells of
all sizes, for all applications and markets, Mantra has identified several
special niche fuel cell technologies for commercialization, and is actively
engaged in pursuing these opportunities.
The Carbon Marketplace
Mantra is implementing an online marketplace where retailers
of energy-saving, alternative energy equipment, and associated service
providers, can interact with individuals, homeowners, strata councils,
and businesses to reduce energy consumption, expenditure, and carbon emissions.
We have taken a significant step towards creating a marketplace where individuals
and homeowners can identify opportunities to reduce their energy consumption
and environmental impact, and interact with vendors to implement user-specific
solutions.
This first step is called the Mantra Carbon
Calculator. It accepts initial user input, then calculates annual
CO2 emissions attributable to energy and resource use in the home and at
business premises (e.g. space heating, hot water, and electrical equipment),
and for personal and public transport (e.g. cars, motorbikes, air travel,
bus and rail). Initial user input generates a base-line carbon footprint.
At their option, calculator users can revisit, update their profile, and
compare their consumption relative to the base line. A comparison to a
user-established target is also available.
Using the carbon calculator, the Mantra client can review and evaluate
his lifestyle. Suppliers of green equipment can interface with the user,
with Mantra as the paid facilitator. A Sustainability Directory,
consisting of sustainability and alternative energy companies, as well
as information about Grants and Incentives is accessible. This online "carbon
marketplace" will provide access to a growing database containing
information about energy saving practices, and an opportunity for individuals
to share ideas concerning effective energy use.
The Mantra Sustainability Directory
on the Mantra Web site offers
a free,
comprehensive resource directory
of companies that work directly with:
Solar - Wind Power
Geothermal -
Heat Pumps - BioEnergy
Wave/tidal - Fuel cells
http://www.mantraenergy.com/sustainability-directory.html
also at the Mantra Web site
there is a complete resource center...
http://www.mantraenergy.com/resource-centre/index.php
and at the BASF Web site
there's a video on Formic Acid...
http://www.basf.de/en/intermed/news/filme/ameisensaeure_spot.htm
Carbon Calculator
Mantra Venture Group’s Carbon Calculator accepts initial user
input, then calculates annual CO2 emissions attributable to energy and
resource use in the home and at business premises (e.g. space heating,
hot water, and electrical equipment), and for personal and public transport
(e.g. cars, motorbikes, flights, bus and rail). Initial user input generates
a base-line carbon footprint. At their option, calculator users can revisit,
update their profile, and compare their consumption relative to a self
established consumption target. To launch the calculator: http://www.mantraenergy.com/overview/carbon-calculator.html
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C02 Conversion and ERC |
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Think Green. Think Investment. Think
Opportunity.
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| Mantra has acquired the intellectual
property (patent-applied-for process) for a process developed at the University of British Columbia that converts carbon dioxide (CO2)
into useful products. This process, named ERC (electro-reduction of carbon
dioxide), takes carbon dioxide and water, combined with electricity, to
produce fuels and chemicals such as formic acid, formates and oxygen. |
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Carbon dioxide is a greenhouse gas and a main contributor to climate
change. Today one quarter of the world’s carbon dioxide emissions are released
from the burning of Fossil Fuels in stationary coal-fired power plants.
As of yet, large scale applications have not been able to make the shift
to renewable energy as fossil fuels remain the most cost effective option
energy source available. Scientists and innovators are therefore looking
at methods to deal with the CO2 released so that it doesn’t enter our atmosphere.
These methods currently include capturing the gas and injecting it underground
for storage in a process called carbon sequestration. However, as of yet,
a full carbon capture and storage system for large-scale power plants is
also not a cost effective option.
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Electro-Reduction of Carbons
(ERC) unit
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The
ERC process offers an innovative alternative to carbon sequestration with
many potential advantages. The first advantage is that the ERC, instead
of addressing carbon dioxide as the problem, harnesses its chemical properties
as part of the solution.
Capitalizing
on the abundance of carbon dioxide being released from fossil fuel combustion
the ERC converts CO2 to useful, financially profitable products.
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The second advantage is that the process is driven by electric energy
that can be taken from an electric power grid supplied by hydro, wind,
solar, tidal or nuclear energy. Lastly, there is potential for this technology
to be applied in a closed-loop fuel cell cycle, whereby carbon dioxide
is converted into a fuel that is then used in a fuel cell to generate energy.
MVTG sees the potential of the ERC as a step towards mitigating climate
change.
The value of the carbon dioxide market is currently in the billions
of dollars annually. The state of this evolving market is indicated by
the large industry participants including British Petroleum (NYSE:BP) and
General Electric (NYSE:GE) who are building energy production gasification
plants aimed to capture and sequester over 400 million tons of carbon dioxide
in a single year, while Carbon Credits are traded at values up to $30 per
ton of CO2.
Clean Coal Technologies
Through Dr Edward J Anthony, a member of Mantra’s
Scientific Advisory Board, Mantra has been introduced to leading technologies
in coal combustion with zero emissions. These opportunities are important
as coal will remain an important energy source for the foreseeable future.
Dr. Anthony is one of the world’s leading authorities on combustion.
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Recent News from Mantra Venture Group |
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Press
Release Source: Mantra Venture Group Ltd.
Tuesday
October 28, 9:15 am ET
Mantra Encounters
Volume of Interest and Success
at Sustainability
2008 Clean Technology Conference
SEATTLE,
Oct. 28 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ("Mantra", OTCBB:
MVTG, FSE: 5MV) is pleased to announce that its technology to convert
carbon emissions into valuable chemicals and potential sources of fuel
garnered remarkable attention at the Sustainability 2008 conference. Due
to the successful launch of its carbon reduction reactor, Mantra has been
invited for follow up meetings regarding government initiatives, investment,
and joint venture proposals by various attendees and presenters at the
conference.
"Our
expectations for this prestigious conference were far surpassed," stated
Mantra president Larry Kristof. "Both the volume of interest and the quality
of those interested gives rise to optimism, and enhances our already bright
future in this lucrative arena. I strongly encourage investors and Cleantech
enthusiasts to stay tuned for more announcements about our corporate progress."
You
can see for yourself how the company's carbon reduction technologies can
transform the way that large scale industry can deal with its carbon dioxide
emissions at Mantra's website: www.mantraenergy.com, where you can also
view photos and a slideshow of the Sustainability 2008 conference. For
even more information, please download weekly podcasts with Mantra's president,
Larry Kristof, hosted by the Opportunity Show, a weekly radio show intended
to showcase emerging companies. The podcasts may be downloaded from Mantra's
website or www.opportunityshow.com.
Mantra
also wishes to thank everyone who came out to their site at the Sustainability
2008 conference and made the presentation of their carbon reduction technology
such an overwhelming success. Mantra gives special thanks to Source One,
the organizer of Sustainability 2008, for their forward thinking and commitment
to the betterment of this planet through support of sustainability initiatives.
Mantra
is now looking forward to following up on the various opportunities presented
by investment, industry and government organizations as well as heading
back to the lab in order to develop the commercialization and industry
applications of its carbon reduction technology. MORE
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Click HERE to see highlights from MVTG's presentation at the Sustainability 2008 conference |
Press Release Source:
Mantra Venture Group Ltd.
Thursday October
23, 9:15 am ET
CO2 reduction technology unveiled
at Sustainability 2008
SEATTLE, WA, Oct.
23 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ("Mantra", OTCBB:
MVTG, FSE: 5MV) has taken steps during the last quarter to position
itself at the forefront of pioneering sustainability initiatives. Mantra's
flagship technology for the electro-reduction of carbon (ERC) is ready
to be displayed for the first time to the public and media at the Sustainability
2008 conference on October 24, 2008 in Vancouver, Canada. Over 55 leading
sustainability industry participants and 1,500 attendees representing media,
corporate and government organizations will be present at Sustainability
2008.
"Mantra has a proven
chemical process which is a part of the solution to one of the large environmental
problems plaguing our planet: carbon dioxide," commented John Russell,
head of Mantra's Scientific Advisory Board. "We understand that in order
for sustainability to be attractive to companies, it needs to be commercially
useful. ERC is. It really could be a breakthrough in the way our planet
handles its carbon dioxide pollution."
The ERC reactor converts
captured carbon dioxide into various useful byproducts such as formic acid,
sodium bicarbonate and possibly even methanol. One possible application
is the use of an ERC reactor within a steel plant. A substantial amount
of carbon dioxide is produced by steel plants during the smelting process.
An ERC reactor is capable of converting a portion of the carbon dioxide
produced by the steel plant into formic acid. The formic acid can then
be used by the steel producer in an efficient steel pickling process; replacing
the currently used hydrochloric acid. Mantra is also looking into applying
this concept to pulp and paper mills as well as numerous other large scale
industries and developing new applications such as formic acid fuel cells.
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. Through
a combination of government grants and equity financing, Mantra plans to
raise $5 million in the next quarter in order to begin commercial testing
of its ERC technology at various sites and research and develop additional
applications.
Larry Kristof, Mantra's
President, commented, "Mantra has experienced accelerated development and
an unprecedented amount of interest in our ERC technology during the last
quarter. We secured additional financing when many other companies are
struggling to meet their basic obligations, completed our ground-breaking
ERC reactor and established many valuable connections within industry and
government institutions." MORE
Press Release Source:
Mantra Venture Group Ltd.
Wednesday October
22, 9:15 am ET
Media meets the ERC reactor: Mantra
Venture Group at Sustainability 2008
SEATTLE, WA, Oct.
22 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ("Mantra", OTCBB:
MVTG, FSE: 5MV) has taken steps during the last quarter to position
itself at the forefront of pioneering sustainability initiatives. Mantra's
flagship technology for the electro-reduction of carbon (ERC) is ready
to be displayed for the first time to the public and media at the Sustainability
2008 conference on October 24, 2008 in Vancouver, Canada. Over 55 leading
sustainability industry participants and 1,500 attendees representing media,
corporate and government organizations will be present at Sustainability
2008.
"Mantra has a proven
chemical process which is a part of the solution to one of the large environmental
problems plaguing our planet: carbon dioxide," commented John Russell,
head of Mantra's Scientific Advisory Board. "We understand that in order
for sustainability to be attractive to companies, it needs to be commercially
useful. ERC is. It really could be a breakthrough in the way our planet
handles its carbon dioxide pollution."
The ERC reactor converts
captured carbon dioxide into various useful byproducts such as formic acid,
sodium bicarbonate and possibly even methanol. One possible application
is the use of an ERC reactor within a steel plant. A substantial amount
of carbon dioxide is produced by steel plants during the smelting process.
An ERC reactor is capable of converting a portion of the carbon dioxide
produced by the steel plant into formic acid. The formic acid can then
be used by the steel producer in an efficient steel pickling process; replacing
the currently used hydrochloric acid. Mantra is also looking into applying
this concept to pulp and paper mills as well as numerous other large scale
industries and developing new applications such as formic acid fuel cells.
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. Through
a combination of government grants and equity financing, Mantra plans to
raise $5 million in the next quarter in order to begin commercial testing
of its ERC technology at various sites and research and develop additional
applications.
Larry Kristof, Mantra's
President, commented, "Mantra has experienced accelerated development and
an unprecedented amount of interest in our ERC technology during the last
quarter. We secured additional financing when many other companies are
struggling to meet their basic obligations, completed our ground-breaking
ERC reactor and established many valuable connections within industry and
government institutions." MORE
Press Release Source:
Mantra Venture Group Ltd.
Monday October 20,
9:15 am ET
Mantra Venture Group announces $500,000
financing
SEATTLE, Oct. 20 /PRNewswire-FirstCall/
- Mantra Venture Group Ltd. ("Mantra", OTCBB: MVTG, FSE: 5MV) is pleased
to announce that it has secured a total of US $500,000 in financing. The
proceeds of this financing will be used to fund Mantra's day to day operations
and further commercialization of its Electro Reduction of Carbon Dioxide
('ERC') reactor.
Larry Kristof, Mantra's
President and Chief Executive Officer commented on the financing, "We are
extremely encouraged that even when faced with an economic backdrop of
uncertain investor confidence, an unprecedented credit crisis and suspect
growth, Mantra is still able to attract new sources of funding. This financing
further reinforces that the investment community is still excited about
sustainability projects and believes that Mantra's robust plan of growth
and profitability is sustainable in any financial environment."MORE
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Management at Mantra |
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Larry Kristof
President & Chief Executive
Officer
Prior to founding Mantra Venture
Group, Mr. Kristof served as President and Chief Executive Officer of Lexington
Energy Services Inc., a Calgary, Alberta company he co-founded. Under
his direction, Lexington designed and commercialized innovative mobile
drilling rigs and nitrogen generation technologies. He successfully raised
capital for the company on public markets. Before establishing Lexington,
he founded Westec Venture Group Inc., a company which provided business
development and venture capital services.
Dennis Petke
Chief Financial Officer
Mr. Petke is qualified as a Chartered
Accountant in Canada, and is a member of the Institute of Chartered Accountants
of British Columbia (1995). Currently serving as a director and/or chief
financial officer for a number of private and public companies, his responsibilities
include strategic and overall financial management for these companies.
Mr. Petke has accumulated extensive experience in the area of corporate
finance, including negotiating and implementing private and public company
mergers, as well as facilitating private placement, preference share, convertible
debenture, special warrant and debt financings.
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Financial Highlights for MVTG |
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Mantra Venture Group Ltd. Inc., was incorporated as a Nevada
company in January 2007 and extra-provincially registered
in British Columbia in February 2007. There are six wholly-owned subsidiaries,
all of which are incorporated in the State of Nevada.
Recent Trade: $0.29 (10/29/08)
Avg Vol (3m):
27,577
(as of July 14, 2008)
Shares O/S: 25,790,161
Fully Diluted: 32,713,911
Public Float: 3.975M
Approx. Market Cap. $7.74M
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http://www.mantraenergy.com/tools-and-utilities/free-bag.html
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Company Contacts |
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Mantra Venture Group
Canada Corporate Headquarters
Dominion Building
Suite 1205, 207 West Hastings Street,
Vancouver, BC, Canada V6B 1H7
(877) 609-2898 (Toll Free)
(604) 609-2878
Mantra Venture Group
USA Corporate Headquarters
Two Union Square
Suite 4200, 601 Union Street,
Seattle, WA, USA, 98101
(877) 609-2898 (Toll Free)
(206) 652-3403
Investor Relations
Phone: 1(877)609-2898
E-mail: ir@mantraenergy.com
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