- By mantradev
Burnaby, BC –Mantra Venture Group Ltd. (OTCQB: MVTG, GR: 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 systemsis 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, http://www.mantraenergy.com.
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
Investor Relations: John Williams
(604) 495-1766 (Canada)
(502) 214-5932 (USA)
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.