Mantra Signs Letter Of Intent With KC Cottrell Co., Ltd. - A Global Leader In Air Pollution Control

Seattle /PRNewswire-FirstCall/ - Mantra Venture Group Ltd. ('Mantra', OTCBB: MVTG, FSE: 5MV) is pleased to announce that it has just signed a Letter of Intent (LOI) with KC Cottrell Co., Ltd. (KC Cottrell), a global leader in air pollution control based out of Seoul, Korea. Under the terms of the LOI, Mantra and KC Cottrell will enter into a strategic alliance with the purpose of carrying out the engineering, construction, testing and deployment of a 100 kg-per day Electroreduction of Carbon Dioxide (ERC) reactor.

KC Cottrell is currently in the construction phase of a pilot project that captures and purifies 1/2 tonne of CO2 per day from an industrial power plant. With completion scheduled for December 2009, the company is now looking for an end-use for the concentrated CO2. ERC, Mantra's CO2 recycling technology, represents an ideal candidate for the project as it converts concentrated CO2 into useful products such as formic acid. Formic acid is used in numerous industry applications worldwide and has a current market value of $1,400/tonne.

"After a couple of meetings with KC Cottrell during our recent trip to Korea, the synergies between our two companies became seemingly obvious," says Larry Kristof, President and CEO of Mantra. "KC Cottrell is among the most respected environmental solutions companies on the planet, and we look forward to working together with them under this strategic alliance arrangement."

This news comes as the first of a series of anticipated developments resulting from Mantra's recent trip to Korea. Further details will be available shortly.

About KC Cottrell Co., Ltd.
KC Cottrell has been a world leader in environmental technology for over 35 years. With operations spanning Asia, America and Europe, KC Cottrell's specialties lie in environmental systems (FGD treatment, dust collection and incineration), environmental service (recycling, environmental incineration and reclamation of waste), and manufacturing of high quality industrial facilities. Guided by their vision to lead the global environment industry, KC Cottrell is currently making consistent and bold investments to attract the best global talents and to innovate their systems.

KC Cottrell trades on the SEO stock exchange under the ticker symbol 009440. Annual sales for the fiscal year ending Dec 2008 were $152 Million USD, and the company has a current market cap of $161.7 Million USD.

For more information on KC Cottrell Co., Ltd., please visit their website: www.kc-cottrell.com

About ERC
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).

About Mantra:
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.

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.

SOURCE Mantra Venture Group Ltd.

Copyright [2009] PR Newswire. All Rights Reserved