Mantra Announces LED Lighting Retrofit Demonstration Project for the District of North Vancouver, B.C.
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SEATTLE, WA–(Marketwire – 09/07/10) – Mantra Venture Group Ltd. (‘Mantra’)
(OTC.BB:MVTG – News) (Frankfurt:5MV – News) is pleased to announce that Climate
ESCO Ltd. (CE), a wholly owned subsidiary of Mantra, has secured a demonstration
project using its new LED (Light Emitting Diode) lighting products for the District of
The agreement is focused on demonstrating the application of LED interior luminaries
for community properties. LED lighting is the most advanced lighting technology today
and are up to 80% more efficient than incandescent or fluorescent lighting. The District
of North Vancouver is keen to test the new LED technology to provide green leadership
in their community and measure the environmental and costs savings associated with
using LED (Light Emitting Diode) lighting.
The District is utilizing the Northlands Golf and Country Club for the project and CE is
now under way to retrofit the entire club house interior lighting system. The
demonstration project will show how a commercial size building can reduce its energy
consumption, maintenance costs and carbon footprint through energy efficient LED
lighting. While the long-term financial and environmental benefits of the country club are
anticipated, the safety, security, visibility and visual comfort of the club house will also
be significantly improved. The District has agreed to employ an independent third-party
industry expert who will monitor the project.
Climate ESCO anticipates an independent report to confirm the advantages of using
LED lighting, including the economics of retrofitting North Vancouver District properties
on a larger scale. Completion of the installation is anticipated by the end of September
Shawn Kim, CE’s president, commented: “We are very excited to be bringing the latest
in LED lighting to the District of North Vancouver where we expect to see powerful
reviews. We applaud the leadership shown by the District of North Vancouver for
stepping forward in this sustainable community initiative.”
Larry Kristof, Mantra’s CEO, also commented: “Mantra has been committed in LED
lighting since its inception because of its potential to reduce electric power demand. The
US has estimated that full implementation of LED in place of existing incandescent and
fluorescent lighting has the potential to reduce demand by 26%. LED lighting is the
single most effective way to instantly reduce energy consumption. The economics from
the user’s point of view are very attractive: after an initial capital cost of replacement
(partly offset by incentives from governments and power utilities), the user saves
thereafter on electric power and maintenance. The maintenance savings from LED
lamps that last 10 to 14 years in regular use is substantial. LED lamps generate
significantly less heat; therefore creating additional savings on air conditioning costs.”
About Climate ESCO Ltd.
Climate ESCO LTD. (CE) is a wholly owned subsidiary of Mantra Venture Group Ltd.
The Vision of CE is to source out and identify new and innovative ways to reduce public
and private organizations carbon footprint and global climatic impact. CE will achieve
this through identification of enhancements or new efficiencies in existing technologies
or new cutting edge solutions. The goal is for CE to be a turnkey solution for companies
to turn to for saving electric energy and using new technologies to reduce power
consumption while decreasing expenditures over time. Climate ESCO is dedicated to
provide the best available products with the best economics that will also allow
environmental responsibility and through association with CE companies will legitimize
their commitment to green technologies.
LED (Light Emitting Diode) is the first technology adopted by Climate ESCO because of
its remarkable potential to reduce demand for electrify. CE has sought and secured
relationship with leading manufactures from around the globe.
About Mantra Venture Group Ltd.
Mantra owns a portfolio of companies focused on sustainable energy, carbon reduction
and consumer product subsidiaries. Mantra’s mission is to be a leader in the green
technology marketplace using an innovative, multi-faceted approach focused on
profitability through sustainability. By aggressively seeking out new technologies and
innovating solutions for a cleaner earth, Mantra intends to provide a highly profitable
and environmentally responsible investment for its shareholders.
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.