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eBlast
Mantra Venture Group Ltd. Inc. (OTCBB: MVTG)
November 3rd, 2008.

 
 Mantra Venture Group Ltd. Inc. (OTCBB:MVTG)

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

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)
<<<Spacer>>>
    Technology and Innovation

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. 
<<<Spacer>>>
    The Renewable Energy Market


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
<<<Spacer>>>
    C02 Conversion and ERC 

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.

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
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. 

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

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

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


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. 
<<<Spacer>>>
    Financial Highlights for MVTG 

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


for a free bag, click below!
http://www.mantraenergy.com/tools-and-utilities/free-bag.html

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    Company Contacts 

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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