SOURCE: Mantra Venture Group, Ltd.

February 28, 2011 12:49 ET

Mantra's India Trade Mission a Success

SEATTLE, WA--(Marketwire - February 28, 2011) -  Mantra Venture Group Ltd. ('Mantra') (OTCBB: MVTG) (FRANKFURT: 5MV) (Mantra") is pleased to provide an update on the success of the Company's recent trade mission to India.

As a result of Surrey Mayor, Dianne Watts' led business mission to India, Mantra found itself in the company of very prestigious Canadian and Indian movers and shakers in a variety of industries. The trip was well-received abroad and placed a spotlight on many local companies intending to develop market opportunities in India, due to the strong Indian connection with the City of Surrey.

With tremendous interest in cleantech from local heavy industries and energy service providers, Mantra found itself trying to catch its breath, hosting 13 meetings in four days. The companies represented in the meetings with Mantra were:

  • Tata Consulting Engineers who are recognised as the leading consulting engineering organisation in India. Tata provides advanced, state-of-the-art technology and cost-effective solutions to industrial clients in the following sectors: power, chemical, mining, metals and metallurgy, construction and infrastructure development.
  • Urja Renewable Energy Consultants offer consultant services in renewable energy sources to the Indian marketplace.
  • JSW Steel is the flagship company of the US$10 billion O.P. Jindal Group. JSW steel produces steel products of all forms and varieties. JSW Steel also recently entered into an agreement to acquire and integrate operations with ISPAT Industries who also met with Mantra during the visit.
  • Ambuja Cements Ltd. ("Ambuja") is one of India's leading cement companies with a strong focus in sustainable business practices and corporate responsibility. Ambuja has five integrated cement manufacturing plants and eight cement grinding units across the country. Ambuja enjoys a reputation of being one of the most efficient cement manufacturers in the world. Its environmental protection measures are on par with the finest in the country. It is one of the most profitable and innovative cement companies in India. Ambuja has also pioneered the development of multiple bio-mass co-fired technologies for generating greener power in its captive plants.
  • ACC Ltd. ("ACC") is also one of India's foremost cement companies with a countrywide network of factories and marketing offices. ACC has won accolades for its environmental stewardship and has received numerous awards for its acts of good corporate citizenship. ACC carries out its business under three interdependent goals being "economic development, social development and environmental protection."
  • IndESCO is an energy services company helping businesses reduce their overall energy costs while reducing their carbon footprint and developing renewable energy projects. IndESCO also provides international business and strategy advice to companies all around the world, in the broader energy and cleantech sectors.
  • Ashoka BuildCon is engaged in the engineering, procurement and construction ("EPC") of a wide range of infrastructure projects all across India.
  • Uttam Galva Steels Ltd. is also one of India's leading manufacturers of cold roll steel and galvanized steel in India.
  • Equirus Finance is a mid market focused investment bank, founded with the intent of providing quality investment banking & related advisory services for Indian Corporates with global aspirations.

Mantra has identified multiple fits with these organizations and will be following up with them to determine the optimal synergies to facilitate deal flow between our Company's offering and theirs.

Mantra would like to also acknowledge and thank Wealth Tree, for arranging and facilitating such high quality meetings. Wealth Tree is a leading one-stop Market Entry consultancy that assists companies and government agencies from across the world in doing business with India and also helps Indian companies expand in international markets.

Beyond the gratitude we have for all the companies Mantra met with while on the trade mission, President, Larry Kristof would like to express his sincere appreciation to Mayor Watts and all the Surrey Councillors present, including Tom Gill, Linda Hepner and Barinder Rasode, and the staff of the City of Surrey for all their hard work in arranging the mission. Further, Mr. Kristof would like to acknowledge and thank the Consulate General of Canada representatives, Mr. Nicolas Lepage and Ms. Yasmine Dubash for facilitating many of the high level meetings attended by Mr. Kristof.

In closing, Mr. Kristof had this to say about the trip, "As a result of this successful trade mission we feel we've now carved out a significant identity for Mantra and its novel, cutting edge carbon recycling technology by providing India the tools to re-engineer a sustainable, more environmentally friendly, future for many decades and generations to come."

About Mantra Venture Group
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable and environmentally responsible investment for its shareholders.

Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.

Stay up to date with Mantra on Twitter:

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.

Contact Information