Nov. 13, 2009 (PR Newswire) — SEATTLE, Nov. 13 /PRNewswire-FirstCall/ – Mantra Venture Group Ltd. (‘Mantra’, OTCBB: MVTG, FSE: 5MV), developer of the revolutionary carbon recycling ERC technology, was featured in the Fourth Quarter 2009 edition of District Energy Magazine (District Energy). The article, entitled “Carbon Recycling: An alternative to carbon capture and storage,” takes a closer look at the current economic, regulatory and legal challenges facing carbon capture and storage (CCS), and offers some insight as to the potential advantages of carbon recycling over CCS.
Rowan Oloman, author of the article and freelance writer of Vancouver, B.C., notes: “Several massive hurdles still stand in the way of full-scale CCS deployment. U.K. consulting firm McKinsey figures that adding CCS to the next generation of European power plants could lift their price by up to $1.3 billion each.” While this cost barrier is a significant deterrent to widespread adoption of CCS, Oloman then goes on to explain that legal and regulatory issues are also significant concerns. “While progress is underway in some countries, no country has yet developed the comprehensive, detailed legal and regulatory framework that is necessary to effectively govern the use of CCS.”
In looking at the potential advantages of Mantra’s ERC technology, Oloman highlights: “Compared with CCS, the ERC provides a positive ROI, not an unrecoverable cost. Plus a demonstration ERC unit could be installed at a client’s premises within a year and a commercial plant within two years, much faster than for CCS.”
“This technique differs from CCS in that it uses waste gas stream from fossil fuel combustion as raw material to produce a commodity of value,” added Tony Mirabella, Technical Editor for District Energy. “This approach may not offer any upfront cost savings but may generate revenues to help provide a return on the investment in additional plant equipment.”
In publication since 1915, District Energy is a quarterly magazine that focuses on the technical innovations in the industry, the benefits of urban and institutional district energy systems, and many other issues in association with developing district energy systems. For a complete copy of the article, go to: http://www.districtenergy-digital.org/districtenergy/2009Q4#pg27.
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About ERC:
The Electroreduction of Carbon Dioxide (ERC) is an innovative carbon recycling technology that combines CO(2) with water to produce highly sought-after materials such as formic acid, formate salts, oxalic acid and methanol- valuable chemicals used in a variety of industrial applications.
It is the goal of ERC to serve as a safe and more economical alternative to carbon capture sequestration (CCS) – the process of capturing carbon dioxide and storing it in deep geological formations, in the ocean or as mineral carbonates.
About Mantra:
Mantra Venture Group Ltd. is a diversified Green Tech company seeking to become a world-leader in the development of commercially viable sustainable technologies. By acquiring the most promising technologies from universities, laboratories and companies and bringing them through to commercialization, Mantra will create significant shareholder value through subsequent acquisitions, spinouts and licensing fees. Current areas of interest for Mantra include: the reduction/recycling of carbon dioxide, alternative energy and wastewater filtration/purification.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 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.
Investor Relations
Kol Henrikson
1-877-609-2898
khenrikson@mantraenergy.com
www.mantraenergy.com