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.
