Mantra’s Electro-Reduction of Carbon Dioxide (ERC) system is intended to reduce the problem greenhouse gas CO2 and convert it into a series of valuable chemicals, a form of carbon capture and recycling (CCR). There are
currently 27 Billion metric tonnes of CO2 emitted annually from fossil fuel combustion, an inexhaustible supply of feedstock. The first product is formic acid (HCOOH) which commands a market of approximately USD $1 billion. ERC technology passed the lab stage, and is ready to be tested in the field.
Executive summary of company's business:
Eelectro Reduction of CO2 is technology that falls into the broad category of carbon reuse. It is a practical and economic alternative to other technologies that are being put forward today, such as CCS. These point notes are a summary of wide-ranging work undertaken by ME in exploring the practical potential of ERC and determining its competitive economics.
There are essentially three pathways for utilizing CO2:
a. conversion of CO2 into fuel,
b. utilization of CO2 by conversion into a feedstock for chemicals (ME’s chosen route)
c. and non-conversion use of CO2 (CCS or carbon capture and sequestration).
Chemical and electrochemical conversion of CO2 into value-added chemical feedstocks
and intermediates is attractive in terms of fossil fuel avoidance. It is estimated that the total
CO2 emissions avoidance potential of this pathway is about 0.3 Gt/y (billion tonnes per year).
This is ME’s business model: production of green feedstock chemicals. The figure above defines a reasonable initial target market for ME, the use 0.3 Gt/y of CO2 to make a similar volume of high value chemicals. An additional assumption is that these chemicals will have an average market value of $1,000 per tonne: giving a market value of $300 billion. This is in reasonable conformity with the ME projections ($350bn) arrived at by a totally different route. Pathways for utilization of CO2:
Using the same assumptions as above, this market is worth approximately $300 to $700 Billion per year.
Electro reduction of CO2 (ERC) promises to be deployable and practical: it has a low carbon footprint, is scalable and is economic in its use of electric energy. It has the ability to make a number of high value chemical products.
Differentiation vs. competitors:
Calera’s technology uses standard chlor-alkali technology that combines Mg from seawater and CO2 (limited to coastal locations), has low value product: $50 to $75 per tonne, requires complicated logistics, and the economics and energy balance are being questioned. Mantra's ERC technology will 1. make high value products starting with formic acid, 2. could make the same product that Calera does (produce hydroxide which can make MgCO3), 3. allows development of new ultra low cost process to capture CO2, 4. eventually, a range of products. Mantra can offer a great flexibility and value than Calera.
Key team members:
Professor Emeritus Colin Oloman, P.Eng, Scientific Advisory Board Member and Consulting Scientist - Colin Oloman has achieved many notable milestones throughout his career, including: Canada’s first pilot plant for scrubbing hydrogen sulphide; co inventing the Electro-Luber™ system; and 1000 Amp, 10 cell perforated bipole electrochemical reactor for production of alkaline peroxide. Norman Chow, P.Eng., Director, Industrial Process = Norman Chow received a Masters of Applied Science Degree from the University of British. Mr. Chow has over 10 years of technology development experience and contract research experience. His background includes technology development, business management, project management and manufacturing. Mr. Chow co-invented a patented electrochemical metal cleaning process that is currently used in 12 countries. In addition, Mr. Chow has taken two companies from concept to commercialization and has built over 20 demonstration and commercial projects around the globe. Larry Kristof, Founder - Larry Kristof has over 15 years experience in business and corporate development. In 2003, Mr. Kristof co-founded Lexington Energy – a company engaged in manufacturing and leasing oilfield service equipment to oil and gas, and other oil field service companies. Under Mr. Kristof’s direction, Lexington introduced the first nitrogen-on-demand system to Alberta oil markets. After recording corporate revenues of $2 Million in the first two quarters of 2007, Mr. Kristof resigned from Lexington Energy to focus full-time on the Green Tech sector as Founder of Mantra Venture Group.
Existing investors and capitalization details:
Professor Emeritus Colin Oloman, P.Eng, Scientific Advisory Board Member and Consulting Scientist
Colin Oloman has achieved many notable milestones throughout his career, including: Canada’s first pilot plant for scrubbing hydrogen sulphide; co inventing the Electro-Luber™ system; and 1000 Amp, 10 cell perforated bipole electrochemical reactor for production of alkaline peroxide. Professor Oloman has acted as a consultant in the R&D of various electrochemical processes.
He has authored or co-authored three books and has authored or co-authored over 45 proprietary reports and publications in technical journals. He is the inventor or co-inventor of twenty US and international patents, including MRFC (inventor) and ERC (co-inventor). Norman Chow, P.Eng., Director, Industrial Process - Norman Chow received a Masters of Applied Science Degree from the University of British. Mr. Chow has over 10 years of technology development experience and contract research experience. His background includes technology development, business management, project management and manufacturing. Mr. Chow co-invented a patented electrochemical metal cleaning process that is currently used in 12 countries. In addition, Mr. Chow has taken two companies from concept to commercialization and has built over 20 demonstration and commercial projects around the globe. In 1996, his patented metal cleaning technology won the Financial Post Gold Award for being the Top Environmental Technology in Canada. Larry Kristof, Founder - Larry Kristof has over 15 years experience in business and corporate development. In 2003, Mr. Kristof co-founded Lexington Energy – a company engaged in manufacturing and leasing oilfield service equipment to oil and gas, and other oil field service companies. Under Mr. Kristof’s direction, Lexington introduced the first nitrogen-on-demand system to Alberta oil markets. After recording corporate revenues of $2 Million in the first two quarters of 2007, Mr. Kristof resigned from Lexington Energy to focus full-time on the Green Tech sector as Founder of Mantra Venture Group.
Capital sought & use of proceeds:
The company is currently seeking common share equity investment or a combination of equity and convertible debt in the amount of US$4.3M to be expended over the next year on the following: Build of the Lafarge demonstration, Richmond, BC - $2,000,000, Completion of global patenting of ERC - $50,000, Optimization of demonstration; streamline site logistics - $200,000, Trade marketing and promotion - $165,000, New hires – executive management and engineering – $500,000, General administration and overhead – $500,000, Retirement of current debt –$ 400,000, New product development IP – 550,000. Total Estimated Financial Needs: $4,365,000
Characteristics of ideal investors:
The company is seeking venture investors that will align both financially and professionally with the mission of our company which is to become a leading green chemical company, using novel cutting edge carbon recycling technology whilst providing a profitable carbon emission solution to CO2 industrial emitters, such as coal power plants, cement companies, steel manufacturers and other industrial emitters of CO2.
Company name:
Mantra Energy Alternatives
