Mantra Venture Group Ltd.

Mantra Venture Group Ltd.

September 16, 2014 09:15 ET

Mantra Announces Allowance of Canadian Patent

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2014) - Mantra Venture Group Ltd. (OTCQB:MVTG) and its subsidiary, Mantra Energy Alternatives Ltd., have announced the allowance of the Canadian patent "Continuous Co-Current Electrochemical Reduction of Carbon Dioxide". The patent covers Mantra's innovative ERC process, which converts the polluting gas carbon dioxide into high value chemicals and fuels. Similar patents have been granted in China, Australia, and India.

"The timing of this news could not be better, as we are preparing to launch our pilot unit in Canada in the coming months," said CEO Larry Kristof. "This granted patent will serve as the basis for a great deal of additional intellectual property generated from the pilot."

Mantra's pilot plant, for the conversion of carbon dioxide to formate salts and formic acid, will be operating on the site of the Lafarge cement plant in Richmond, B.C., early next year. This will be the world's first demonstration of electrochemical carbon dioxide reduction in an industrial setting, and will pave the way for the first commercial installations.

"This patent, like the others already granted, is quite comprehensive," said Patrick Dodd, Mantra's VP of Corporate Development. "It broadly covers the electrochemical reduction of carbon dioxide, which is being increasingly recognized as a critical future technology."

Mr. Dodd has just completed a government supported trade mission with Canadian Manufacturers and Exporters (CME) to the UK automotive sector, where he was marketing Mantra's fuel cell, the MRFC. This trip to the UK included the continuation of collaborative development efforts with leading experts in the country, where clean energy technology is becoming increasingly mandated.

Mr. Dodd will meet Mr. Kristof, who is currently participating in the Consulate General's CTA CleanTech program in New York, in Germany in the coming week. A combination of working with project collaborators, expanding ongoing relationships, and meeting investors will take them to Berlin, Munich, Zurich, and Vienna.

About Mantra Venture Group

Mantra Venture Group Ltd. (OTCQB:MVTG) is a clean technology incubator that takes innovative emerging technologies and moves them towards commercialization. The Company, through its subsidiary Mantra Energy Alternatives, is currently developing two groundbreaking electrochemical technologies designed to make reducing greenhouse gas emissions profitable, ERC (Electro-Reduction of Carbon Dioxide) and MRFC (Mixed-Reactant Fuel Cell).

ERC is a form of "carbon capture and utilization" (CCU) that converts the polluting greenhouse gas 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.

The MRFC is an unconventional fuel cell that uses a mixture of fuel and oxidant, thereby greatly reducing the complexity and cost of the fuel cell system. Ideal for portable applications, the MRFC is cheaper, lighter, and more compact than conventional fuel cell technologies.

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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.

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