Mantra to Engage in $3.5 Million Development Project with Korean Engineering Company
As outlined in the MOU, the partnership will progress through three transitional phases. Under Phase 1, Mantra will deliver a 1kg-per day ERC demonstration unit to Bluebird in Korea by
Mantra’s research and development costs for Phases 1 and 2 of this project, estimated at
To facilitate the relationship, both Mantra and Bluebird anticipate establishing offices in the other party’s respective countries by
About Bluebird Co., Ltd.
Founded in 1998, Bluebird Co., Ltd. strives to protect the environment through its engineering capabilities. With design and construction of facilities for air pollution prevention being its main business lines, Bluebird plays a leading role in improving the air quality both in Korea and abroad. Bluebird’s current environmental technologies include: De-Dioxin System, De-NOx (SCR) System, De-SOx(FGD) System, Electrostatic Precipitator, De-VOC System and Urea solution manufacturing. Bluebird has many large international customers, including Samsung Corning, an electronics producer to whom it supplies with 1,800-2,400 tons of Urea Solution per year. The company is currently seeking opportunistic sectors for continued growth, including Carbon Capture and Storage.
For more information on Bluebird Co., Ltd., please visit their website: http://www.blbird.co.kr/
The ERC process, “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 thermochemical processing of Fossil Fuels. However, ERC has an advantage over the established thermochemical methods for converting carbon dioxide to liquid fuels.
While thermochemical 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 (forms of renewable energy).
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.
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.
Investor Relations Terry Johnston 604-267-3022 email@example.com www.mantraenergy.com
SOURCE Mantra Venture Group Ltd.