Mantra Venture Group Ltd. (OTCBB: MVTG) (FRANKFURT: 5MV) today announced that its Mantra Energy Alternatives Ltd. subsidiary has been granted a patent for its Electroreduction of Carbon Dioxide (ERC) process by the Government of India's Office of the Controller General of Patents, Designs and Trade Marks (CGPDTM). Mantra's ERC process is a form of carbon capture and recycling (CCR) that aims to capture CO2 from industrial activities such — as cement production — and convert it to valuable chemicals and other useful byproducts.
"This is an important milestone for Mantra Energy Alternatives," said Larry Kristof, Mantra's President and CEO. "Our ERC process is based on unique and valuable intellectual property. As we work toward the further development, testing and eventual licensing and commercialization of our ERC process, we are seeking patent protection in major international markets. In addition to India, we are currently pursuing patents in Canada, Australia, China, Japan, Europe and the United States. Patent recognition in India is a great first step in our longer-term IP strategy."
Indian Patent No. 251493 covers Mantra's electrochemical process for reducing carbon dioxide to formate salts or formic acid, and was published on March 23, 2012 in Journal No. 12/2012. In addition to gaining the patent in India, Mantra's ERC technology was recently presented at India's International Engineering Sourcing Show (IESS) and generated significant interest from show attendees.
About Mantra Energy:
Mantra Energy Alternatives Ltd.is a wholly owned 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 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.
STERLING COMMUNICATIONS, FOR MANTRA ENERGY ALTERNATIVES
SOURCE Mantra Energy Alternatives Ltd.
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