Mantra Announces the Incorporation of Mantra Energy USA
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/30/15 -- Mantra Venture Group (OTCQB: MVTG) has announced the incorporation of a US subsidiary, Mantra Energy USA. Mantra USA will develop the technologies of its sister company, Vancouver-based Mantra Energy Alternatives Ltd., as well as explore expanded business opportunities in the US.
"It is very important for us to have a footprint in the US, in order to access large-scale funding opportunities, further our existing relationships with US entities, and improve the visibility of the company and the technology to investors and industry in this critical market," said Larry Kristof, Mantra''s CEO.
Mantra USA is currently exploring laboratory facilities and staff in the Seattle area to carry out research activities there. The company will initially perform specific research and development activities in parallel to those ongoing in the Vancouver facilities. This footprint will allow the company to pursue large funding calls from US organizations, such as DOE offices like the Office for Fossil Energy, ARPA-E, and NETL. A US office will also facilitate the expansion of existing, and the establishment of new, relationships with investors, institutions and industrial partners.
"The ability to pursue funding calls from US organizations will be an enormous boon to the Mantra family of companies," said Patrick Dodd, VP of Corporate Development. "The DOE has placed a specific emphasis on carbon utilization and energy storage, which Mantra''s ERC and MRFC technologies directly address."
Mantra''s management has recently returned from a successful mission to the 2015 International Conference on Carbon Dioxide Utilization (ICCDU) in Singapore. The company''s poster on its ERC technology development was well received and has led to a series on ongoing discussions regarding collaborative development in Asia and Europe.
"The fact that the ICCDU is growing at such a rate is yet another indicator of the importance of these technologies," said Dr. SonaKazemi, Mantra''s CTO. "Mantra''s presence there confirmed our position as a global leader in the field."
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.
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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 forward-looking statements.
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Mantra Venture Group Ltd
(604) 560-1503
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Datum: 30.07.2015 - 07:15 Uhr
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News-ID 1375810
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