By Greentech Lead India: Mantra Energy Alternatives, a
wholly owned subsidiary of Mantra Venture Group has received a patent for its
Electroreduction of Carbon Dioxide (ERC) process from the Government of India’s
Office of the Controller General of Patents, Designs and Trade Marks.
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.
Mantra’s ERC system will reduce greenhouse gas CO2
emission and convert it into a series of valuable chemicals, as part of its
carbon capture and recycling (CCR).
“This is an important milestone for Mantra Energy
Alternatives. 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,” said Larry Kristof, Mantra’s
president and CEO.
In addition to India, Mantra is currently pursuing
patents in Canada, Australia, China, Japan, Europe and the United States.
Indian Patent covers Mantra’s electrochemical process for
reducing carbon dioxide to formate salts or formic acid.
Mantra Energy to invest $3.2 million for implementing
Electrochemical Reduction of Carbon Dioxide technology
Recently, Mantra Venture Group signed a private
placement agreement with a number of non-US investors to sell 3,200,000 shares
of its wholly owned subsidiary Mantra Energy for $3.2 million. Mantra Venture
Group will retain a 65 percent stake in Mantra Energy. Closing of the financing
is anticipated to occur in March 2012.