SEATTLE, WASHINGTON--(Marketwire - Dec. 28, 2012) - Mantra Venture Group (OTCQB:MVTG)(BERLIN:5MV) looks back on a tremendously successful and productive 2012 while heralding in a number of innovative prospects for 2013.
"We've had an exciting and beneficial year," said Company president and CEO, Larry Kristof. "We've developed strategic partnerships in addition to securing important patents. I'm confident we will continue to expand upon the successful foundations built in 2012."
Highlights of 2012 include:
- Substantial capital injection in the First Quarter that ensured the implementation of the Company's Electrochemical Reduction of Carbon Dioxide (ERC) technology;
- Expansion of the management team in the Second Quarter with the addition of Tom Unger as Vice President of Corporate Finance. Mr. Unger is a successful entrepreneur and venture capitalist;
- Securing the patent for the Electrochemical Reduction of Carbon Dioxide technology;
- Technology Development Agreement with Powertech, a proven leader in designing and testing clean technology solutions. Powertech will provide testing at its facility of the ERC technology and offer its expertise to advance the technology behind the process. Powertech has developed a CO2 concentration technology which will increase the CO2 content of the Lafarge stack gases from 20% to 80%, making it much easier for the CO2 conversion process. Powertech will begin the scaleup of the concentrator in January to match the requirements for the Lafarge pilot unit;
- A Technology Development Agreement with Tekion (Canada) Inc to accelerate the field trials for the ERC process. Tekion has developed some very novel electrode designs and is currently working on materials screening prior to scale up. These new designs will provide some significant patent opportunities and provide additional flexibility in the design of the Lafarge trial unit;
- Securing a patent for the mixed reactant fuel cell (MRFC) technology;
- Completing the construction of a fully integrated ERC and MRFC demonstration unit.
"We are continuing to further develop our ERC and MRFC technology," said Company president and CEO, Larry Kristof. "2013 will see the Company forging more strategic partnerships as we continue to develop and refine the technology."
Highlights for 2013 include:
- Identifying an engineering partner and additional strategic partners;
- Construct and install the ERC demonstration plant at the Lafarge cement plant in Richmond, BC ;
- Further expansion of the management team;
- Receiving additional ERC and MRFC technology patents;
- Applying for new technology patents;
- Continuing to highlight the ERC and MRFC technology to investors and industry leaders at international trade shows.
Mantra Venture Group wishes you and yours a happy, healthy and prosperous New Year. As you appreciate the final days of 2012 and prepare to ring in the New Year, enjoy our latest video demonstrating the innovative ERC and MRFC technology that converts CO2 into renewable energy: http://www.youtube.com/watch?v=o5ORK48MquI.
The ERC process, defined as 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 thermo chemical processing of fossil fuels. However, ERC has an advantage over the established thermo chemical methods for converting carbon dioxide to liquid fuels.
While thermo chemical 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.
About Mantra Energy Alternatives:
Mantra Energy Alternatives Ltd. is a subsidiary of Mantra Venture Group Ltd. Its mission is to become the world leader in production of high value, carbon negative chemicals and fuels. Mantra's ERC system will reduce the problem greenhouse gas CO2 and convert it into a series of valuable chemicals, a form of carbon capture and recycling (CCR). There are currently 27 billion metric tons of CO2 emitted annually from fossil fuel combustion, providing an inexhaustible supply of feedstock. The first product is formic acid (HCOOH), which commands a market of approximately USD $1 billion.
Mantra 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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For more information go to: http://www.mantraventuregroup.com
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.