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PROFILE
Mantra Venture Group, Ltd. (OTCBB: MVTG) is building a portfolio of subsidiary companies and technologies that mitigate negative environmental and health consequences that arise from the production of energy and the consumption of resources. Mantra is quoted on the OTCBB under the symbol MVTG and on the Frankfurt Stock Exchange under the symbol 5MV.
Mantra Energy Alternatives Ltd. (ME)
Mantra Energy Alternatives Ltd., a wholly owned subsidiary of Mantra Venture Group, which acquired 100% ownership of the patent pending technology Electro-Reduction of Carbon Dioxide, or “ERC” in 2008 . ERC was developed by Professor Emeritus Colin Oloman at the University of British Columbia’s Clean Energy Research Centre.
ERC uses only three components: CO2, water and electricity, which makes the end product formate or formic acid.
Progress has been made with the development of ERC since its acquisition by ME. Technical milestones have been made in the following areas:
- Energy requirement has been reduced by a third
- Process efficiency raised from 50% to 90% (a figure that is acceptable in an electrochemical process)
- Physical structure has been improved and energy flow eased
- Cathode catalyst has been upgraded, its efficiency and lifetime improved
- Complete turnkey system suitable for industry has been conceived and the separate parts tested.
At present, based on conservative calculations, Mantra has forecasts a 20% - 24% ROI (return on investment). ROI for ERC adopters could be as much as 15 - 20% or better, making an investment in ERC technology a very attractive revenue opportunity for industrial CO2 emitters. Real-world demonstration testing will refine and confirm these figures, giving ME a realistic platform for its next stage – sale of commercial plants. The demonstration projects will open up markets in power utilities and cement production for sales in the hundreds of $Millions USD, which will then grow.
In regard to scale up: many new technologies struggle to go from laboratory prototypes up to full sized commercial plants. One of the advantages of ERC is that it is electrochemistry, an established and well understood branch of chemicals processing. Electrochemistry is developed first for a single cell, and each cell thereafter is identical to the others. Scale up is a matter of installing the number of cells needed to meet the production goal, not of developing and expanding a single chemical process. Scale up is simple and turnkey.
ERC is a method of recycling carbon dioxide into valuable non-volatile organic compound, called formate or formic acid, a natural by-product of CO2 recycling that enables industrial CO2 emitters to make profit off of their emissions rather than incur a cost to sequester CO2.
ME’s technology adds an additional profit to an industrial emitters bottom line, rather than a cost, such as what occurs with CCS. By using ERC, an emitter can avoid adding unnecessary cost to outputs which would otherwise be passed along to the consumer. Using ERC could potentially reduce the cost of sales and increase gross margins for industrial emitters.
There are currently 27 Billion metric tonnes of CO2 emitted annually from fossil fuel combustion, an inexhaustible supply of feedstock for the production of formic acid (HCOOH) which has the potential to command an initial market value of approximately USD $1 billion.
- Mantra Venture Group is a clean-tech incubator and developer
- ME owns the patent rights to a cutting-edge technology to convert CO2 into high value chemicals, formate and formic acid, using only three ingredients: CO2, water and electricity
- For every tonne of CO2 input into the ERC system, 960 kg of formic acid is produced
- ormic acid and formate have a current market price of approximately $1,500 per tonne
- Formic acid is a precursor chemical to many other industrial chemicals and applications including, but not limited to: fuel cell feedstock, green plastics, steel pickling, replacement of strong acids, pulp and paper, pharmaceuticals, textiles, leather treatment, rubber treatment, organic de-icer
- Over $3.5 million has been expended to date on ERC technology development from bench scale through to demo preparedness
- Industry partners have come together to complete the supply chain – field testing will streamline the process and logistics to facilitate the transition from pilot to commercial operations
- Technology is scalable and turnkey and could provide as much as an estimated 15 – 20% ROI for ERC adopters
- Provides an alternative method of dealing with CO2 emissions in light of emerging issues with Carbon Capture and Sequestration
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