Carbon Storage Partnership Could Mean Big Things For Carbon Reduction

Share

Mantra Energy Alternatives Inc. and Kemira Oyj Announce Partnership;
Marking a New Era for Global Carbon Sequestration and Profitable Organic Byproducts for Heavy Industry

Mantra Venture Group Ltd. (“Mantra”) (OTCBB: MVTG) (FRANKFURT: 5MV) announces it has negotiated, through its wholly-owned subsidiary Mantra Energy Alternatives Inc. (“ME”) a Memorandum of Understanding (“MOU”) with Finland-based Kemira Oyj (“Kemira”), one of the world’s foremost water chemistry companies. The MOU is very significant to Mantra as it completes a link in its processing and supply chain for the conversion of carbon dioxide (“CO2″) emissions into the strongest of the organic acids, formic acid. The partnership is mutually beneficial as it both ensures a long-term and steady supply of formic acid to Kemira for their various chemical applications, while it concurrently assists ME in meeting the needs of its ERC industrial clients in resolving CO2 emission problems. Even more compelling to Mantra’s business evolution is Kemira’s intent and desire to co-partner in developing additional green products using formic acid as a base chemical component. This key partnership sets the platform for multiple future revenue streams for Mantra, Kemira and future industrial clients, all using formic acid derived from ME’s novel ERC technology.

As an indication of Kemira’s commitment to optimization of the processing and supply chain, they have agreed to build a key component of the ERC system: the back end process which improves the formic acid output up to market ready specification on site. When synergistically combined, the ERC commercial package will include technology from both parties that is scalable and turnkey for industrial clients such as cement plants, coal-fired power plants, refineries, and other large emitters. Optimization of ERC with Kemira’s added partnership strength will facilitate the manufacturing of a steady long-term supply of formic acid at a lower cost than existing processes, which are based on fossil fuels, the cost of which are forecasted to increase in the future. Adding further benefit to the partnership opportunity is Kemira’s ability to handle worldwide sales and marketing of formic acid, alleviating any pressure on ME to independently develop a distribution chain.

Kemira is a global EUR two billion green chemicals company that is focused on serving customers in water-intensive industries. It is the second largest manufacturer of formic acid worldwide. Kemira ChemSolutions (“ChemSolutions”), a subsidiary of Kemira Oyj, is a leading producer of formic acid and organic acid salts. ChemSolutions is developing new formic acid recovery and concentration technologies in the TEKES-funded projects under Kemira’s SWEET centre (centre for water excellence technologies).

Read more on Carbon Storage Partnership Could Mean Big Things For Carbon Reduction…

Read more at AlternativeEnergyHQ