MANTRA SEEKS PARTNER FOR $100 MILLION DOE RESEARCH PROGRAM.
John Russell, Vice President of Technology Evaluation at Mantra, comments: "The recently announced DOE program offers a significant opportunity for the strategic development of ERC. With CO2 regulations becoming increasingly stringent and the value of ERC by-products on the rise, this program may offer Mantra and its testing partner the support needed make ERC a profitable CO2 recycling solution for emitters of many types." In commenting on prospective partners for the project, he added: "We are currently evaluating a host of suitable partnership opportunities in the U.S., including: cement plants, chemical plants, refineries, steel and aluminium plants and manufacturing facilities. Given the proximity of the deadline, we hope finalize an agreement with a partner no later than July 15th."
The DOE-NETL program is a cost-sharing collaboration between US Government and industry to increase investment in clean industrial technologies and sequestration projects. Projects selected for funding will be broken into two phases. Phase 1 consists of the initial award - estimated to be in the range of $500,000 to $3,000,000 per project. Five months following Phase 1, awardees interested in further funding will be subject to a competitive renewal process (Phase 2). DOE will contribute up to a maximum of 80% of the capital requirements for each project, with a target contribution level of 50% for those projects considered to be of lower-risk.
If your company is interested in partnering with Mantra on this opportunity, please contact John Russell, Toll Free: 877-609-2898.
The ERC process, "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 thermochemical processing of Fossil Fuels. However, ERC has an advantage over the established thermochemical methods for converting carbon dioxide to liquid fuels.
While thermochemical 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 (forms of renewable energy).
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is active in the green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth for everyone, Mantra intends to provide a highly profitable and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTC BB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.
For more information, call 604/267-3022 or visit http://www.mantraenergy.com.
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|Date:||Aug 1, 2009|
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