SOURCE: Mantra Venture Group, Ltd.

April 13, 2010 09:15 ET

Mantra Enters Final Negotiations With KC Cottrell Co., Ltd. to Construct First Commercial Scale Carbon Recycling Demonstration Unit

SEATTLE, WA--(Marketwire - April 13, 2010) -  Mantra Venture Group, Ltd. (OTCBB: MVTG) (FRANKFURT: 5MV) is pleased to announce that it is in final negotiations with KC Cottrell Co., Ltd. of Korea (KC Cottrell) to construct its first commercial scale carbon recycling demonstration unit. Together, the companies aim to combine Mantra's Carbon Recycling (ERC) technology with KC Cottrell's proprietary Carbon Capture technology. The demonstration unit, set for installation at Korean Southern Power Co., Ltd.'s (KOSPO) Hadong power plant, will be the first of its kind in the world.

Larry Kristof, President and CEO of Mantra, comments: "This partnership will represent a giant leap forward for Mantra and its ERC technology. KC Cottrell has a multitude of capabilities and values such as engineering, manufacturing and deep understanding of flue gases that serve as a great complement to those of Mantra, and we are keen to combine our efforts in building the world's first commercial scale demonstration Carbon Capture and Recycling (CCR) plant."

Shawn Kim, VP-International Business Development, added: "Korea is an ideal place to develop and showcase our ERC Carbon Recycle technology with tremendous interests and support from high caliber industries and government organizations. We have spent a lot of time and effort working on this project, and we are very pleased that we are in the final stage of the negotiation."

A Memorandum of Understanding (MOU) detailing the particulars of the strategic partnership is scheduled for execution later this month, the details of which will be released shortly thereafter.

About KC Cottrell Co., Ltd.
KC Cottrell has been a world leader in environmental technology for over 35 years. With operations spanning Asia, America and Europe, KC Cottrell's specialties lie in environmental systems (FGD treatment, dust collection and incineration), environmental service (recycling, environmental incineration and reclamation of waste), and manufacturing of high quality industrial facilities. Guided by their vision to lead the global environment industry, KC Cottrell is currently making consistent and bold investments to attract the best global talents and to innovate their systems.

KC Cottrell trades on the SEO stock exchange under the ticker symbol 009440. Annual sales for the fiscal year ending Jan 2010 were $140 Million USD, and the company has a current market cap of $170 Million USD.

For more information on KC Cottrell Co., Ltd., please visit their website: http://www.kc-cottrell.com

About Korean Southern Power Co., Ltd.
Korean Southern Power Co., Ltd. is engaged in the generation of electricity, development of electric power resources and sale of all generated electricity to KEPCO through the Korean Power Exchange ("KPX"). KOSPO has several facilities in operation, including: Hadong Thermal Power Site, Shinincheon Combined Cycle Power Site, Busan Combined Cycle Power Site, Youngnam Thermal Power Plant, Cheongpyung Pumped Storage Power Plant, Namjeju Thermal Power Plant and Hankyung Wind Farm. KOSPO embraces the notion of sustainable development by balancing environmental conservation with economic growth. The company sets strict self-management targets to minimize pollutant emissions in adherence with local regulations for each of its power plant facilities.

For more information on Korean Southern Power Co., Ltd., please visit their website: http://www.kospo.co.kr/ENGLISH/index.htm

About ERC
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. However, ERC has an advantage over the established thermochemical methods for converting carbon dioxide to liquid fuels.

While thermochemical reactions must be driven at relatively high temperatures that are normally obtained by burning 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 renewable energy).

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.

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