BURNABY, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2013) - Mantra Venture Group Ltd. (OTCQB:MVTG)(BERLIN:5MV) and its subsidiary, Mantra Energy Alternatives Ltd., have announced the completion of the first phase of engineering for its "Electro-Reduction of Carbon Dioxide" (ERC) pilot plant. BC Research Inc. (BCRI), the technology commercialization arm of NORAM Engineering and Constructors, has delivered a comprehensive first phase report that details the estimated cost of this plant, which will convert waste carbon dioxide into valuable chemicals at the Lafarge cement plant in Richmond, B.C.
"The work done by both NORAM and BCRI on this project has been truly impressive," says Larry Kristof, Mantra's President. "We have the utmost confidence that their dedication and expertise will result in a successful deployment at Lafarge."
This work has resulted in several process improvements, including the introduction of a product treatment stage that will deliver a highly concentrated liquid product. As this will be capable of reaching the levels at which the products are typically used in industry, Mantra expects to be able to sell product directly out of the pilot plant. Improved process control, instrumentation, and flow scheme will deliver a more robust demonstration and greatly facilitate the commercial scale-up of the process.
Mantra's CTO, Patrick Dodd, commented, "This will be the very first plant to electrochemically reduce carbon dioxide in an industrial setting. I think people will be very excited when they see a valuable, salable liquid product coming out of the Lafarge flue gas stack. "
The second phase of engineering, which will provide a "ready-to-build" plant design, is set to begin shortly, and will be completed concurrently with procurement and construction to facilitate a timely deployment.
ERC, or the "Electro-Reduction of Carbon Dioxide", is a form of "carbon capture and utilization" (CCU) that converts the pollutant 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.
About Mantra Energy Alternatives
Mantra Energy Alternatives Ltd., a wholly owned subsidiary of Mantra Venture Group Ltd., aims to become a world leader in the production of high-value, carbon-negative chemicals and fuels. Mantra is currently developing the ERC process, which will initially produce formic acid and formate salts from carbon dioxide, and will eventually be capable of generating a wide variety of products. The company seeks to simultaneously reduce anthropogenic carbon emissions, which total over 30 billion tonnes each year from fuel combustion alone, and generate value.
Mantra Venture Group is a public company quoted on the OTC QB under the symbol MVTG and on the Berlin Stock Exchange under the symbol 5MV.
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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.