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.'

About Mantra:

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.

Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.

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 the forward-looking statements.