Mantra-NORAM Engineering Agreement Kick-Starts Pilot Plant Design
Vancouver, BC (Marketwire) - Mantra Energy Alternatives Ltd., a wholly owned subsidiary of Mantra Venture Group (OTCBB:MVTG)(BERLIN:5MV), announced today that engineering design has begun on its innovative "electro-reduction of carbon dioxide" (ERC) pilot plant. An engineering agreement with NORAM's wholly owned subsidiary BC Research Inc. has mapped out a three-stage process of design and construction that will see the pilot plant erected at the site of the Lafarge Canada Inc. cement plant in Richmond, British Columbia, later this year.
A game changing "carbon capture and utilization" (CCU) technology, ERC offers the ability to transform waste carbon dioxide, a notorious greenhouse gas, into valuable products through an electrochemical reactor. CCU is increasingly being recognized as a vital component in the battle against climate change.
"With a global reputation for innovation and excellence, we are confident that NORAM will be able to share unparalleled experience and knowledge to ensure that this disruptive technology is delivered successfully," says Mantra President and CEO Larry Kristof. "The Lafarge pilot project will demonstrate the capabilities of ERC in the field, and will put us in a position to begin commercializing the technology."
NORAM Director of Business Development, Dr Ira Wolff, welcomed the opportunity to work with Mantra, saying: "British Columbia is in the happy position of having a wealth of promising clean-tech companies, that deserve support to get their technologies to market. BCRI is a nexus for providing engineering, laboratory, fabrication, and pilot plant support - all requisites for small process companies on the road to a commercial-scale demonstration. Strong collaboration can only benefit this promising new technology from Mantra."
NORAM develops, engineers, and commercializes technologies for the process and resource industries. Since 1988, Noram has built a global reputation for innovation and excellence in the supply of proprietary engineering and equipment packages to the chemical, pulp and paper, minerals processing and electrochemical sectors. Their six specialized business groups have completed capital projects on five continents. NORAM is recognized worldwide as a leader in the fields of nitration, sulfuric acid and electrochemistry.
In addition to carrying out large assignments for major multi-national clients and municipalities, NORAM works with early-stage technology companies. They provide engineering design and fabrication support, sharing NORAM's experience in technology commercialization, and growing with the company as a strategic stakeholder.
The ERC process, defined as 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 thermo chemical processing of fossil fuels. However, ERC has an advantage over the established thermo chemical methods for converting carbon dioxide to liquid fuels.
While thermo chemical 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.
About Mantra Energy Alternatives:
Mantra Energy Alternatives Ltd. is a subsidiary of Mantra Venture Group Ltd. Its mission is to become the world leader in production of high value, carbon negative chemicals and fuels. Mantra's ERC system will reduce the problem greenhouse gas CO2 and convert it into a series of valuable chemicals, a form of carbon capture and recycling (CCR). There are currently 27 billion metric tons of CO2 emitted annually from fossil fuel combustion, providing an inexhaustible supply of feedstock. The first product is formic acid (HCOOH), which commands a market of approximately USD $1 billion.
Mantra is a public company quoted on the OTC QB under the symbol MVTG and on the Berlin Stock Exchange under the symbol 5MV.
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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.