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SEATTLE, WA–(Marketwire – 09/13/10) – Mantra Venture Group Ltd. (‘Mantra’)
(OTC.BB:MVTG – News) (FSE: 5MV) is pleased to announce the signing of a Teaming
Agreement with Solid Team LLC of Claremont, California, a U.S. management group.
Solid Team LLC is a management firm whose partners are senior American executives
that have strong track record of accomplishment in both industry and government.
Thomas Noel, the former U.S. Assistant Secretary of Energy and Chief Executive
Officer or ERCOT, the Texas electrical grid company, and William McLaughlin, founder
of Toxco, the world’s largest recycler of lithium, and a major developer of Carbon Offset
Credit programs will work side by side with Mantra in pending projects in Canada and
the United States. Marcus Mota e Silva, former President of California Steel; retired
U.S. Army Major General Nicholas Krawciw; and Bradley Jacobs, former Assessor of
the County of Orange will also complement Mantra’s management team.
William McLaughlin of Solid Team said: “proper development and implementation of the
Mantra process will have a major impact on the reduction of greenhouse gas generation
in the world and play a significant role in the reducing the effects of Climate Change in
the United States. Carbon dioxide from coal fired plants cause 30% of that country’s
greenhouse gases.” He went on to say: “we at Solid Team expect to find major
investment to improve the company’s financial base and to obtain contracts from the
Thomas Noel of Solid Team referred to the Mantra process as a potential “Game
Changer” when it comes to the use of coal in the generation of electrical power, and
power for industry. Coal, one of the least expensive sources of power, now has a
chance of being used without the severely negative environmental consequences of
which we have only recently become aware. In addition, the Mantra process yields a
saleable green chemical, formic acid, which is highly valuable.
Mr. Larry Kristof, Mantra’s CEO, had this to say about the new relationship between
Mantra and Solid Team: “We are pleased to have access to the skills and experience of
Solid Team – this is the next stage in building our corporate management team. The
Solid Team partners have built innovative, new technology companies from concept to
commercialization, they have walked the corridors of U.S. government power – they
know how it works and can guide us. Thru them we will gain traction in the U.S. with
both clients and investors. This is an exciting development.”
Mr. John Russell of Mantra Energy commented: “We have done the hard development
work in the lab, and now our ERC technology needs to be known and appreciated. Solid
Team will assist us in making it happen. This will establish a much larger footprint in the
United States for Mantra.”
Following signing of the agreement, the first action by Mantra and Solid Team was to
send in an abstract proposal to the US Department of Energy related to the Mantra
carbon reduction and recycling process. DOE responded: “the abstract proposal has
been received by the Department of Energy and has been forwarded for review. We
expect the results within 4 to 6 weeks”.
Mantra’s ERC technology
The ERC process, the “Electrochemical Reduction of Carbon Dioxide,” combines
captured carbon dioxide with water to produce high value materials, such as formic acid
and formate salts, which are conventionally obtained from the thermochemical
processing of 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 (forms of clean or renewable energy).
About Mantra Venture Group Ltd.
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.
Solid Team, LLC is a management company specializing in environmental issues
related to climate change and the U.S. export trade for both agricultural and high tech
products. To learn more about Solid Team please visit their website at
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.