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Mantra Venture Group Acquires Worldwide Exclusive License for Mixed Reactant Fuel Cell Technology

Posted on: Wednesday, 9 September 2009, 13:00 CDT

SEATTLE, WA, Sept. 9 /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it signed a worldwide exclusive licensing agreement for a Mixed Reactant Fuel Cell (MRFC) technology on September 2nd, 2009. Unlike typical fuel cells that require a Proton Exchange Membrane (PEM) to separate the fuel from the oxidant within the cell, MRFC is based on an innovative technology that mixes the fuel with the oxidant and eliminates the need for the expensive yet fragile membrane. As a result, Mantra anticipates a simplified and much more cost effective manufacturing process upon commercialization.

MRFC was designed by Professor Emeritus Colin Oloman in the Clean Energy Research Center (CERC) at the University of British Columbia, Canada. Under the direction of Prof. Oloman, Mantra's technical staff is currently undertaking feasibility studies on the MRFC technology - using formate as the fuel. This represents a significant opportunity for Mantra, as formate is one of the key products of ERC - the company's carbon recycling technology.

John Russell, Vice President of Technical Evaluation, noted: "While fuel cells have evolved and grown more fuel efficient and powerful over the last 10 years, they are still very much struggling to compete with conventional batteries. The MRFC technology moves outside the standard architecture, eliminating the complexity of conventional fuel cells and thus promising improved economic performance. This economic advancement may be enough for fuel cells to reach widespread adoption."

Mantra's goal in signing this agreement is to carry the technology from its present development stages through to commercialization and to establish sub-licensing agreements thereafter. MRFC is currently in the worldwide patent application process.

Stay up to date with Mantra on Twitter: twitter.com/mantraenergy

About Mixed Reactant Fuel Cell (MRFC)

MRFC is a fuel cell with an unconventional architecture that eliminates the need for some operating features and components (such as the PEM) that are typically required in today's fuel cells. This simplification is expected to generate a significant economic advantage for the MRFC design. MRFC is currently in the critical stages of the patent application process, limiting the amount of technical information and specifications that can be released at this time. More information on the technology will be released shortly.

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.

SOURCE Mantra Venture Group Ltd.

Source: PR Newswire

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