• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

National Research Council of Canada Industrial Research Assistance Program Signs Contribution Agreement With Mantra for Electroreduction of Carbon Dioxide Development Program

Posted on: Thursday, 14 May 2009, 08:35 CDT

SEATTLE, May 14 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has signed a Contribution Agreement with the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) with the goal of advancing Mantra's Electro-Reduction Technology (ERC) towards commercialization. This agreement will provide research and development financial support of up to $75,000, in addition to business and technical advisory and development support.

The objective of this project, entitled "Electroreduction of Carbon Dioxide Development Program," is to establish the technical basis for electro-reduction of carbon dioxide to formate using Mantra's ERC technology. The focus will be on increasing the cathode life, reducing formate cross-over to retrieve formate from the catholyte solution, and optimizing the reactor with respect to its use in processes for the electro-synthesis of formate/formic acid.

Larry Kristof, President and CEO of Mantra, comments: "We are very encouraged by the continued support from both private and public organizations such as NRC-IRAP, especially given the economic challenges currently faced by many development-stage companies today. It is with great pleasure that we accept the opportunity to collaborate with NRC-IRAP on this project, and we look forward to both the advisory support as well as the financial assistance offered through the program."

Mantra has partnered with Kemetco Research Inc., a technology development and scientific research company, to launch and operate the ERC Development Program. Norman Chow, President of Kemetco Research, notes: "The completion of Mantra's ERC technology will potentially revolutionize the Carbon Capture and Sequestration marketplace. As such, we hope to make significant technical advancements through the NRC-IRAP program, ultimately resulting in the widespread commercialization of ERC."

Under the terms of the agreement, NRC-IRAP has agreed to contribute up to $75,000 for completion of the Electrodreduction of Carbon Dioxide Development Program. The project is scheduled to begin this month.

About ERC

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).

About Mantra Venture Group Ltd.

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, more importantly, socially 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 EDV 5MV.

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.

Disclaimer: Investor Relations Terry Johnston 604-267-3022 tjohnston@mantraenergy.com www.mantraenergy.com

SOURCE Mantra Venture Group Ltd.

Source: PR Newswire

More News in this Category