SOURCE: Mantra Venture Group Ltd.

September 07, 2010 17:03 ET

Mantra Announces LED Lighting Retrofit Demonstration Project for the District of North Vancouver, B.C.

SEATTLE, WA--(Marketwire - September 7, 2010) -  Mantra Venture Group Ltd. ('Mantra') (OTCBB: MVTG) (FRANKFURT: 5MV) is pleased to announce that Climate ESCO Ltd. (CE), a wholly owned subsidiary of Mantra, has secured a demonstration project using its new LED (Light Emitting Diode) lighting products for the District of North Vancouver. 

The agreement is focused on demonstrating the application of LED interior luminaries for community properties. LED lighting is the most advanced lighting technology today and are up to 80% more efficient than incandescent or fluorescent lighting. The District of North Vancouver is keen to test the new LED technology to provide green leadership in their community and measure the environmental and costs savings associated with using LED (Light Emitting Diode) lighting.

The District is utilizing the Northlands Golf and Country Club for the project and CE is now under way to retrofit the entire club house interior lighting system. The demonstration project will show how a commercial size building can reduce its energy consumption, maintenance costs and carbon footprint through energy efficient LED lighting. While the long-term financial and environmental benefits of the country club are anticipated, the safety, security, visibility and visual comfort of the club house will also be significantly improved. The District has agreed to employ an independent third-party industry expert who will monitor the project.

Climate ESCO anticipates an independent report to confirm the advantages of using LED lighting, including the economics of retrofitting North Vancouver District properties on a larger scale. Completion of the installation is anticipated by the end of September 2010.

Shawn Kim, CE's president, commented: "We are very excited to be bringing the latest in LED lighting to the District of North Vancouver where we expect to see powerful reviews. We applaud the leadership shown by the District of North Vancouver for stepping forward in this sustainable community initiative."

Larry Kristof, Mantra's CEO, also commented: "Mantra has been committed in LED lighting since its inception because of its potential to reduce electric power demand. The US has estimated that full implementation of LED in place of existing incandescent and fluorescent lighting has the potential to reduce demand by 26%. LED lighting is the single most effective way to instantly reduce energy consumption. The economics from the user's point of view are very attractive: after an initial capital cost of replacement (partly offset by incentives from governments and power utilities), the user saves thereafter on electric power and maintenance. The maintenance savings from LED lamps that last 10 to 14 years in regular use is substantial. LED lamps generate significantly less heat; therefore creating additional savings on air conditioning costs."

About Climate ESCO Ltd.

Climate ESCO LTD. (CE) is a wholly owned subsidiary of Mantra Venture Group Ltd. The Vision of CE is to source out and identify new and innovative ways to reduce public and private organizations carbon footprint and global climatic impact. CE will achieve this through identification of enhancements or new efficiencies in existing technologies or new cutting edge solutions. The goal is for CE to be a turnkey solution for companies to turn to for saving electric energy and using new technologies to reduce power consumption while decreasing expenditures over time. Climate ESCO is dedicated to provide the best available products with the best economics that will also allow environmental responsibility and through association with CE companies will legitimize their commitment to green technologies.

LED (Light Emitting Diode) is the first technology adopted by Climate ESCO because of its remarkable potential to reduce demand for electrify. CE has sought and secured relationship with leading manufactures from around the globe.

About Mantra Venture Group Ltd.

Mantra owns a portfolio of companies focused on sustainable energy, carbon reduction and consumer product subsidiaries. Mantra's mission is to be a leader in the green technology marketplace using an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth, Mantra intends to provide a highly profitable and environmentally responsible investment for its shareholders.

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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