Mantra Venture Group Ltd. (OTCQB:MVTG) and its subsidiary, Mantra Energy Alternatives Ltd., have announced that BrauereiAyinger of Aying, Germany, has agreed to host the company’s first European demonstration project. Mantra and Ayinger have executed a Memorandum of Understanding (MOU) that Ayinger will serve as the host for the project, which will see the brewery’s CO2 emissions converted into high value chemicals using Mantra’s technology.
“This is the ideal timing and location for us to launch a demonstration for new chemical products,” said Mantra CEO Larry Kristof. “We have the right interests and partnerships set up in that part of the world to move quickly from demonstration to scale up and commercialization, and Ayinger’s participation in this demonstration indicates the interest that industry in Germany has in our technology.”
The project will involve the deployment of a demonstration plant for Mantra’s ERC technology, which will convert the brewery’s CO2 emissions into chemicals and chemical intermediates. This demonstration will be on the same scale as the pilot Mantra is currently deploying at the Lafarge cement plant in B.C., but will produce a different range of chemical products.
“It is important for Mantra to demonstrate this technology with different CO2 sources,” said Patrick Dodd, Mantra’s VP of corporate Development. “A brewery is an excellent fit for us because they release highly pure CO2 from their fermentation processes. Additionally, Bavaria is widely recognized for technological innovation, and the presence of global leaders in the engineering and chemicals industries in the region makes it a very exciting place for Mantra to operate.”
The relationship with Ayinger, along with other potential collaborations, was established during Mantra’s recent trip to Munich for the city’s annual festival, Oktoberfest. The trip also resulted in the establishment of a Mantra GmbH in Munich, which will be finalized in the coming weeks.
“We are thrilled to welcome and assist Mantra Energy with their expansion to Bavaria,” said Jan Danisman, Executive Director of the Bavarian U.S. Offices for Economic Development, an organization from which Mantra has received a great deal of support. “The company’s proven science and the strong enthusiasm from investors, as seen at Invest In Bavaria’s recent conference in New York, OktoberINVESTfest, is a clear indicator of continued success in the future.”
Bavaria leads the German states in its commitments to and investment in climate protection, having invested 750 million Euros from 2008 to 2011 alone.
Mantra, along with its partners, will seek to take advantage of large regional and continental funding opportunities to support the project.
About Mantra Venture Group
Mantra Venture Group Ltd. (OTCQB:MVTG) is a clean technology incubator that takes innovative emerging technologies and moves them towards commercialization. The Company, through its subsidiary Mantra Energy Alternatives, is currently developing two groundbreaking electrochemical technologies designed to make reducing greenhouse gas emissions profitable, ERC (Electro-Reduction of Carbon Dioxide) and MRFC (Mixed-Reactant Fuel Cell).
ERCis a form of “carbon capture and utilization” (CCU) that converts the polluting greenhouse gas carbon dioxide into useful, valuable products including formic acid and formate salts. By utilizing clean electricity, the process offers the potential for an industrial plant to reduce emissions while generating a salable product and a profit.
The MRFC is an unconventional fuel cell that uses a mixture of fuel and oxidant, thereby greatly reducing the complexity and cost of the fuel cell system. Ideal for portable applications, the MRFC is cheaper, lighter, and more compact than conventional fuel cell technologies.
Follow Mantra on Twitter: http://www.twitter.com/mantraenergy
For more information go to: http://www.mantraventuregroup.com
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 forward-looking statements.
