Mantra Energy Alternatives and Powertech Agree to Collaborate on Carbon Capture and Recycling Process Field Trials
–Pacific Carbon Trust to evaluate Mantra's ERC process for carbon offset potential –
SEATTLE – June 19th, 2012 –Mantra Venture Group Ltd. (OTCBB:MVTG - News)(FRANKFURT:5MV - News) today announced that its Mantra Energy Alternatives Ltd. subsidiary has signed a technology development agreement with Powertech Labs. As a part of the agreement, Powertech will provide its testing facilities and expertise to advance the technology behind Mantra's Electro-reduction of Carbon Dioxide (ERC) process. Additionally, Powertech will help design the ERC demonstration unit for the pending carbon capture and recycling (CCR) pilotproject with Lafarge Canada, Inc, a subsidiary of Lafarge North America, the largest diversified supplier of construction materials on the continent.
Mantra's ERC process is a form of CCR that aims to capture CO2 from industrial activities, such as cement production, and convert it to marketable chemicals like formate salts or formic acid. Mantra's ERC pilot facility will be operated at the Lafarge cement plant in Richmond, British Columbia. In preparation for the project, Powertech will be working with Mantra to:
· Identify opportunities to increase performance and scalability ofMantra's existing ERC reactor.
· Design a proof-of-concept CO2 enrichment process suitable for the specific flue gas at the site to add to the front end of the ERC process.
· Create a conceptual design for the pilot plant that is capable of converting up to 100 kilograms of CO2 per day to formate salts or formic acid, and that can operate 24 hours per day.
"Powertech is a proven leader in designing and testing clean technology solutions," said Larry Kristof, Mantra's President and CEO. "Our work with them represents another important step towards the testing and eventual commercialization of our ERC process."
"We are excited to work with Mantra on further developing this innovative technology that helps companies reduce their carbon footprint, while at the same time creating a commercially viable byproduct," said Nick Dominelli at Powertech.
Mantra also announced that it is working with Pacific Carbon Trust, a British Columbia Crown corporation, to assess the potential for Mantra's ERC process to generate carbon offsets, which could help the technology move towards full commercialization.
"The recycling of carbon dioxide for use in other applications is an exciting new way of thinking about – and ultimately reducing – green house gas emissions," said Scott MacDonald, CEO of Pacific Carbon Trust. That BC companies are on the cutting edge of this technology is a testament to BC's leadership in the clean tech space. We look forward to seeing this innovative program move forward."
"We're very pleased by the interest that Pacific Carbon Trust is showing in the development of our ERC process," said Larry Kristof. "The more valuable we can make this process, either directly by generating useful byproducts or by helping companies generate offsets, the more likely it is to achieve wide-scale commercial adoption."
About Mantra Energy Alternatives:
Mantra Energy Alternatives Ltd. is a wholly owned subsidiary of Mantra Venture Group Ltd. Its mission is to become the world leader in production of high value,carbon negative chemicals and fuels. Mantra's ERC system will reduce the problem greenhouse gas CO2 and convert it into a series of valuable chemicals, a form of carbon capture and recycling (CCR). There are currently 27 billion metric tons of CO2 emitted annually from fossil fuel combustion, providing an inexhaustible supply of feedstock. The first product is formic acid (HCOOH), which commands a market of approximately USD $1 billion.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.
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For more information go to: http://www.mantraenergy.com
About Powertech Labs:
Powertech Labs Inc. is a wholly owned subsidiary of BC Hydro, one of the largest electric utilities in Canada. Powertech is a multidisciplinary research and testing facility that specializes in clean energy consulting, independent testing and power system solutions. Since its inception in 1979, Powertech has served electrical power utilities, electrical and automotive equipment manufacturers, and oil and gas companies from around the world.
For more information go to: http://www.powertechlabs.com
About Pacific Carbon Trust:
Pacific Carbon Trust is a British Columbia Crown corporation established to deliverhigh-quality carbon offsets to help clients meet their carbon reduction goals and to support the growth of BC's low-carbon economy.
For more information go to: http://www.pacificcarbontrust.com.