VANCOUVER, BC--(Marketwired - February 08, 2017) - Mantra Venture Group Ltd. (OTCQB: MVTG) and its subsidiary, Mantra Energy Alternatives Ltd., have issued an update for their shareholders. The update includes Mantra's attendance of the Canada-China Carbon Capture Utilization and Storage (CCUS) Forum & Mission in Beijing and Shanghai by invitation from Natural Resources Canada, and its promising follow-up discussions with industry and research representatives from China since the event. Mantra is also awaiting to hear the results of a Canadian Government-run funding competition for the demonstration of its ERC-to-syngas technology.
Mantra team members travelled to Beijing and Shanghai to attend the Canada-China CCUS Forum and Mission as one of 10 companies comprising the Canadian delegation. The event included a symposium where Dr. Piotr Forysinski of Mantra delivered a presentation showcasing Mantra's ERC and MRFC technologies to a large assembly of Chinese government, industry, and academia representatives. The CCUS Forum also included site visits to The China University of Petroleum-Beijing (CUPB), the Huaneng Clean Energy Research Institute, the Shanghai Energy & Environment Exchange, and the Shanghai Advanced Research Institute (SARI).
"It was revealing to see China's pollution problems first hand in cities like Beijing and Shanghai," said Mantra CEO Larry Kristof. "It's also very clear that the Chinese government is pushing aggressively to deploy carbon capture and utilisation projects. We see great opportunities for Mantra's technologies in the Chinese market."
Mantra is involved in a number of on-going follow-up discussions with Chinese business, industry, and academia representatives since the event.
Mantra is also awaiting the announcement of a recent Canadian funding opportunity for the construction of a pilot facility of its ERC-to-syngas technology at the Carbon Capture and Conversion Institute (CCCI) in Vancouver, for which it has submitted a full application. The grant would also cover equipment developed by a local partner for the upgrading of Mantra's synthetic gas product into diesel fuel, thereby showcasing the complete cycle of "recycling" CO2 back into a liquid fuel using only water and renewable electricity.
"We are very excited about this opportunity involving local funding and local partners," continued Mr. Kristof. "Developing a pilot of our ERC technology on home soil would immensely facilitate negotiations with large industry partners who we are seeking out to commercialise our technology -- including those in China".
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 ground-breaking electrochemical technologies designed to make reducing greenhouse gas emissions profitable, ERC (Electro-Reduction of Carbon Dioxide) and MRFC (Mixed-Reactant Fuel Cell).
ERCis 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.