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Mantra Sees Future In Recycling CO2
March 11, 2009
By Deirdre Brennan -- A new technology being developed in Canada has the potential to revolutionize the lifecycle of carbon dioxide.
Venture capital group Mantra, which invests in renewable energy and environmentally friendly technologies, has developed a chemical process that turns CO2 into an organic acid with various industrial uses. While this sounds like a magical process akin to spinning straw into gold, the new technology—dubbed the electrochemical reduction of carbon dioxide, or ERC—is very real.
“We are taking CO2, this climate killing gas, and turning it into formate [formic acid],” explains Larry Kristof, president and chief executive officer of Mantra Venture Group.
Mantra bought the rights to the ERC technology from a group of scientists at the University of British Columbia in 2007, and since then has been working to refine the process—which has been proven to work in small quantities—to make it commercially viable.
ERC involves capturing CO2 and combing it with water to produce formic acid, which among other things can be used as a substitute for hydrochloric acid. The steel industry is a large consumer of hydrochloric acid, using it to remove rust and stop oxidation.
“Steel plants currently use 340 tons of hydrochloric acid per day—all of which could be replaced with the more environmentally friendly formic acid,” says Kristof, who explains that the technology is easily scalable.
“The [ERC] process takes one ton of CO2 and turns it into one ton of formic acid,” Kristof says. “Our technology ramps up very quickly. If we have success on the one-ton level, we can move to 100 tons and then to 600 tons.”
According to a report published by research firm Global Industry Analysts, the world market for formic acid is projected to reach 573 thousand tons by the year 2012. Some of the key players already involved in producing formic acid include such chemical giants as BASF, Celanese Chemicals, Kemira, Perstorp and SAMSUNG Fine Chemicals.
“There is already a market for formic acid, and then when you add the additional carbon removal, it is a viable technology,” says Kristof.
ERC Versus Other CO2 Reduction Technologies
While ERC looks like a promising technology in the fight to curb greenhouse gases, a more commonly discussed technology is carbon capture and storage, or CCS. Kristof admits that CCS is a competing technology, but he says that there is so much carbon that needs to be removed from the atmosphere that the two technologies can easily co-exist. However, he isn’t shy about touting what he believes are ERC’s advantages over the more conventional CSS technology.
He says that unlike CCS, which aims to simply remove CO2 from the atmosphere, Mantra’s technology goes a step further, treating the greenhouse gas as a commodity that can be transformed to create non-harmful, organic and financially profitable products.
Kristof is optimistic about expanding the uses for formate—including turning it into an alternative source of energy.
“Mantra is very interested in fuel cells that are powered by our end product, because that gives us a closed loop situation,” he says.
Another feature of Mantra’s technology is that it works at a low temperature. In other words, the ERC process does not require the burning of fossil fuels to cause the thermo-chemical reactions needed to turn CO2 into formate. Rather, the ERC process works at near ambient temperatures and thus can be fueled by renewable sources of energy such as hydro, wind, solar and nuclear power.
What Is Next For ERC?
So when should we expect to see our first large-scale ERC facility? According to Kristof, the firm is working on building a pilot plant, and onsite testing is scheduled to start in early 2010.
“If our tests come up positive with our pilot plant, you could see this erected within four years,” he says.
Kristof admits his timeframe is aggressive, but he is optimistic. “We are developing it in leaps and bounds,” he says.
“We have a massive problem with CO2, and we can keep coming up with technologies like these for the rest of our lives and we’ll only make a dent.”
Mantra has filed for a worldwide patent for its ERC technology, and is also in the process of being listed on the TSX Venture Exchange in Canada.
URWLCM
Here is an article written by Larry Kristof himself:
Capitalizing On CO2: New Technologies Could Strengthen Steel Industry
February 18, 2009
By Larry Kristof -- Recent technological developments in the electro-reduction of carbon dioxide to formic acid, a valuable chemical with possible application in the steel pickling process, may offer an alternative to expensive large scale carbon capture and storage operations.
With the inauguration of President Barack Obama, the United States will soon follow in the footsteps of the European Union by introducing measures to reduce greenhouse gas emissions 80% by 2050. Obama’s plan includes the introduction of a federal cap and trade system in which the government would set limits on carbon emissions by power plants, factories and other installations. Those who emit more carbon dioxide than the prescribed limit will be allowed to buy or trade permits with those that emit less. Further, Obama vows to allot US$15 billion each year to stimulate private sector efforts toward a clean energy future.
Essential to industrial development, the steel industry will play a vital role in the expansion of alternative technologies including wind, solar and the production of fuel efficient vehicles. For an industry that currently emits 4% of the world’s total greenhouse gas emissions, implementation of a carbon cap and trade system would come as a big blow. Although improvements in efficiency have dramatically decreased the industry’s greenhouse gas emissions, they remain a staggering 1.7 tons of carbon dioxide released per ton of steel produced. Global steel output is about 1.3 billion tons per year. Scientific advancements in carbon removal and conversion techniques are therefore paramount.
A great deal of emphasis has been placed on carbon capture and storage (CCS) as a way to deal with high carbon dioxide emissions. Carbon capture and storage is a broad term used to describe technologies that will capture carbon dioxide from point sources and store it in deep geological formations, in deep ocean masses, or as mineral carbonates. The processes involved in CCS have been demonstrated in other industrial applications, so it will likely be one part of the global solution. So far however, the associated costs and environmental risks have prohibited substantial commercial applications.
In light of the economic, technical and legal challenges facing the large-scale deployment of CCS, scientists are exploring innovative strategies to convert carbon dioxide into valuable fuels and chemicals. By turning a waste product into a commodity, researchers are hoping to provide a financial incentive for companies to begin the transformation to clean technologies.
Originating at the University of British Columbia, a new technology named ERC (the electro-reduction of carbon dioxide) aims to take CO2 directly from blast furnaces and convert it to formic acid, a valuable chemical with many industrial applications. Although the ERC process is not limited to use in the steel industry, a patented technology exists that claims the advantages of formic acid over the commonly used mineral acids for steel pickling. Such technology could provide a cyclical industrial benefit and an economic incentive for industry to take the next step toward CO2 mitigation.
Hydrochloric acid is currently used extensively in the steel pickling process to clean the oxidized surface of hot-rolled steel during the manufacturing process. It is an aggressive, non-biodegradable acid that corrodes the surrounding plant equipment, can pit the finished steel product, and must be put through an expensive regeneration or neutralization process before it can be reused or released into the environment.
Formic acid has many potential advantages over hydrochloric acid in steel pickling, including but not limited to; producing a better product quality, the ability to be re-used from the spent solution to provide an easy, cost effective recycling process and the fact that it is non-toxic and bio-degradable. The ERC process also produces oxygen as a byproduct which can be used in the blast furnace to increase iron production.
The amount of formic acid that can be produced at any one steel plant would exceed the local pickling requirements, but the acid is widely used today in a variety of industrial processes and could replace many industrial chemicals in new applications where it becomes cost effective. New technologies also show that formic acid has the potential to play a leading role in fuel cell development, both as a direct fuel and as a fuel storage material for on-demand release of hydrogen.
As the political climate surrounding greenhouse gas emissions grows hotter it will be important for competitive companies to move towards technologies that not only reduce their environmental impact but provide an economic advantage. Innovators are working hard to find practical solutions by capitalizing on carbon dioxide as a valuable commodity instead of treating it as a waste that requires costly disposal. Now it is up to industry to take the bold steps needed to control the emission of carbon dioxide.
Larry Kristof is CEO, of Mantra Venture Group, which facilitates investment in sustainable, commercially viable technologies. By aggressively seeking out clean tech innovations and renewable energy solutions, Mantra aims to connect investors with opportunities that meet today’s global environmental challenges.
Thanks for the article, it will be really hard to determine what the effect will be if it is a tax or auction or give away on the CO2 emission credits. One thing is for sure... they have to have regulation now and CO2 remediating is big-time.
Hey goforthebet
what does pls stand for?
Sorry it took so long to reply. I agree with you, hydrogen storage is a big hurdle to jump. I think it will be a while before there is another break thru in storage, it seems like an "on-demand" system like this one is the wave of the future IMHO.
So true,
They keep calling me very excited and there are not a whole lot of details they can tell me because they are in negotiations. That scenario plus the MM's being slowly weeded out is keeping it down. My estimation is that between now and the end of the month the whole story is going to be out in the open.
In the next 2 weeks I expect to know for sure if this is going in the right direction.
Patience is essential and especially with OB stock. It is reassuring that they trade on two exchanges and have M Partners working with them. IMHO
Great article..... thanks!
You have a great work ethic with research,
I wonder why that is the case with the EU. I guess the EU has higher standards and if other companies get off the hook because a protection agreement isn't made they will still be trying to cut emissions aggressively.
Mantra is well positioned to be available to make a huge impact on CO2 emissions.
THe way I understand it, the linking technology is just being able to use multiple containers so as to produce more hydrogen at once. I could be misinterpreting that. I think commercializing this will be big.
The idea is not very complicated... electricity passes thru water and creates Hydrogen and Oxygen then goes to the air intake which basically is a secondary fuel.
So this is a first generation Hydrogen fuel cell without the danger, because it makes Hydrogen fuel while the car is running and uses it immediately.
The more cells are linked up, the more hydrogen and oxygen are used along with gas or diesel.
I think the point where it stops is when there is more then enough hydrogen so that it is produced faster then the car can use it. I don't believe you can start a regular car on hydrogen yet, so you still need that gas or diesel. So IMO right now with cars the way they are, there is only so many of these you can link together.
.
You called that one. It was me.
You are right about there being a few people holing it down. I just got off the phone with them and I guess they are down to a few MM's who are running out of stock. Their last 10,000 or so. They try to keep track of what is going on.
There really isn't much of a float. so we have that going for us.
We are really close to hearing something from what I gather. Something significant IMO.
I just got some at .19
It seems like the ask stays pretty high lately. If the news is slow, you may just squeeze in at .17 for a bargain. Who knows it may get down to .15 again.
Crazy times
This stock doesn't worry me as far as worth goes. That is my opinion based on talking with the company and following their news.
I think you are right, patience is the key, I want to pick some more up before the news however. If the ask goes down a little I'm in.
Good Morning everyone. Hopefully we will get the news we need in the next few weeks.
A salty schnauzer never hurt anyone. All you need are some decent swells and they would rip it up.
That is too funny!
I'm not a betting man but I would guess they can surf as well.
I surfed a place in California called Rincon with this seemingly endless wave going down the coast of a small peninsula. There were a couple of dogs riding with people... it was hilarious.
In the past I imported some shipments of materials for my company from China and I found out that they had decimated their forest and the trees they did have were diseased and they needed to import pulp to make cardboard for their boxes. That is a catastrophe and also inexcusable to me. Think of how much they could be saving if they took care of their trees and farmed them or something.
Speaking of trees, palm trees, don't even tell me that picture is your back yard. That is really cool. You must have some sandy schnauzers.
Thanks for the article goforthebet,
It seems like a typical Chinese scenario... poor management of the environment. It does make me think that it could be possible that they already know how Mantra will impact the industry so they are focusing on other issues. That is probably not the case but it would be cool if it were. The Chinese have a way of staying ahead of technology, but they don't seem too fast to implement it if it doesn't bring the money in right now.
Thanks,
Sorry for the late reply, I don't usually check the board on Saturday. Stabilization of the market would be nice.... it has happened in the past. Hopefully sooner rather then later. Talk to you Monday and I hope you enjoy your weekend as well.
Hello goforthebet,
How is it that it went up .02 with low volume and most of it sells? There must be other factors to look at. The DJIA and NASDAQ and S&P were all up... is that enough?
I am interested to know what you think. Thanks
Its only 9:35 am. probably in another 4 or 5 hours they will stumble over to a computer and check the hub.
Oh yeah, the section where the videos are at is called "Watch Stories" there are 4 or 5 to see.
The concrete one is my favorite so far. I used to pour and finish concrete in NYC.
There is also a couple of shows on architecture that is green and there is one other about recycling in advertising.
Actually, the Mantra story is going to be revolutionary... the other stuff is common sense green technology that is already in place. Mantra's show will be like seeing a documentary on finding Bigfoot and at the end of the show they actually have one to look at.
Wow, I'm jealous.
Its 25 degrees here and my view is some other dudes front yard... not so picturesque.
Anyhow, the show is primarily online:
http://ourplanetstories.com/
Its a great site, I believe when they have enough stories they plan to go on actual T.V.
Let me know if that link works for you
Did you take that photo? It is really good.
I'll be sure to track any new info on the T.V. series if I come across it.
Hey Gofor,
The last time I talked with them (2 days ago) I don't think they have the script nailed down yet and I'm certain they haven't shot any definite footage. It is a really exciting series however.
Have you seen any episodes yet? They are really concise and are just the thing to rouse interest in investors. I watched like 4 in a row.
Todays Write up:
Mantra Sees Future In Recycling CO2
March 11, 2009
A new technology being developed in Canada has the potential to revolutionize the lifecycle of carbon dioxide.
Venture capital group Mantra, which invests in renewable energy and environmentally friendly technologies, has developed a chemical process that turns CO2 into an organic acid with various industrial uses. While this sounds like a magical process akin to spinning straw into gold, the new technology—dubbed the electrochemical reduction of carbon dioxide, or ERC—is very real.
“We are taking CO2, this climate killing gas, and turning it into formate [formic acid],” explains Larry Kristof, president and chief executive officer of Mantra Venture Group.
Mantra bought the rights to the ERC technology from a group of scientists at the University of British Columbia in 2007, and since then has been working to refine the process—which has been proven to work in small quantities—to make it commercially viable.
ERC involves capturing CO2 and combing it with water to produce formic acid, which among other things can be used as a substitute for hydrochloric acid. The steel industry is a large consumer of hydrochloric acid, using it to remove rust and stop oxidation.
“Steel plants currently use 340 tons of hydrochloric acid per day—all of which could be replaced with the more environmentally friendly formic acid,” says Kristof, who explains that the technology is easily scalable.
“The [ERC] process takes one ton of CO2 and turns it into one ton of formic acid,” Kristof says. “Our technology ramps up very quickly. If we have success on the one-ton level, we can move to 100 tons and then to 600 tons.”
According to a report published by research firm Global Industry Analysts, the world market for formic acid is projected to reach 573 thousand tons by the year 2012. Some of the key players already involved in producing formic acid include such chemical giants as BASF, Celanese Chemicals, Kemira, Perstorp and SAMSUNG Fine Chemicals.
“There is already a market for formic acid, and then when you add the additional carbon removal, it is a viable technology,” says Kristof.
ERC Versus Other CO2 Reduction Technologies
While ERC looks like a promising technology in the fight to curb greenhouse gases, a more commonly discussed technology is carbon capture and storage, or CCS. Kristof admits that CCS is a competing technology, but he says that there is so much carbon that needs to be removed from the atmosphere that the two technologies can easily co-exist. However, he isn’t shy about touting what he believes are ERC’s advantages over the more conventional CSS technology.
He says that unlike CCS, which aims to simply remove CO2 from the atmosphere, Mantra’s technology goes a step further, treating the greenhouse gas as a commodity that can be transformed to create non-harmful, organic and financially profitable products.
Kristof is optimistic about expanding the uses for formate—including turning it into an alternative source of energy.
“Mantra is very interested in fuel cells that are powered by our end product, because that gives us a closed loop situation,” he says.
Another feature of Mantra’s technology is that it works at a low temperature. In other words, the ERC process does not require the burning of fossil fuels to cause the thermo-chemical reactions needed to turn CO2 into formate. Rather, the ERC process works at near ambient temperatures and thus can be fueled by renewable sources of energy such as hydro, wind, solar and nuclear power.
What Is Next For ERC?
So when should we expect to see our first large-scale ERC facility? According to Kristof, the firm is working on building a pilot plant, and onsite testing is scheduled to start in early 2010.
“If our tests come up positive with our pilot plant, you could see this erected within four years,” he says.
Kristof admits his timeframe is aggressive, but he is optimistic. “We are developing it in leaps and bounds,” he says.
“We have a massive problem with CO2, and we can keep coming up with technologies like these for the rest of our lives and we’ll only make a dent.”
Mantra has filed for a worldwide patent for its ERC technology, and is also in the process of being listed on the TSX Venture Exchange in Canada.
Hello everyone,
I am totally on board with this company. My only concern is that for a year now I have seen home made devices like this already in place and look exactly like these. I like the commercialization and signed up as a distributor/installer because I work on vehicles. I am also a share holder. Given that it is easy to knock off this technology, what do you feel the business model is ?. I already know of at least a dozen wizenheimers who know how to build these for less then $20.00.
I was really impressed with the research goforthebet had this morning about the Carbon Dioxide Permits.
To me... these permits symbolize the general consensus of todays leaders that Carbon DIoxide needs to be captured and can only be either stored or pumped into limestone ...... and these permits are a license to pollute corresponding to how many permits or points you buy.
Then here comes Mantra ..... this technology will change everyones thinking and they ( Big Industry) will be begging to get on board. I would almost guess that this kind of technology will be mandatory in the near future. It is a boost forward, when everyone else has no better solution. It is worth its weight in gold.
I can see a lot of value in this company too. I wish I had news but if you call in they may tell you about a negotiation that is taking place (Details not released yet) that is going thru the final stages of finally having a big contract or something. Lets just say the wording sounded contractual to me. I.E. IMO
O.K.
I have to go to work... good chatting with you.
I could not agree more. I don't know when the last time was that you talked to them. There was a lot of excitement las week over news coming out in the next few days. If you get/have any details, please share.
Good News should be coming down the pipes. But if you don't already know.. you can get real good information by calling them directly. Let me know if you need the number.
That can't be good.
Safety has to be a priority and it seems once they get the approval the turbines go in fast. In the long run I think people will accept the risk and improve the technology. it takes a strong stomach to go green but it has to be done.
The giants are so easy going too. Mini Schnauzers have so much spunk it is really a whole different experience I think.
Check out this link. I think it is Larry's blog http://www.mantraclub4kids.com/welcome/mantra-larry.htm
They told me that they are rushing to redo the website because the news will be so big. This seems new to me, you may have seen it already. Let me know what you think.
Good for you
My family is the same way we had a Giant and a mini schnauzer and we never kept the registration up even though they came with the option. Pure breeds are very interesting when you find out their background.
Have a good night.
Hey Goforthebet,
You are a Due Diligence dynamo. The next few weeks should be really exciting based on the last communication I had with Mantra this afternoon. Like your article mentioned... commercialization of these technologies is around the bend and those power cells will be huge. In the race for CO2 remediating, MVTG seems to me to be clearly ahead.
Your schnauzers are looking good by the way. Are they AKC with really long names?
Great pictures.
O.K. I guess I'll talk to you guys again when the PPS goes up. Not too interesting till then. If I had more notice, I would totally go to the investor meeting and fill you guys in. maybe next time. Hold tight.
Hasta lluego!
Does anyone live close to the area who might go next time?
Did anyone go to the open house in B.C.?