High Wire Networks Inc (HWNI)

[Greener]

Executive Business Plan

Anyone who wants this please give me your email. Its a .pdf and reads better that way... Also, it has great pictures. Private message your email if you don't want to public post it...Here we go:

Corporate ProfileMantra Venture Group Ltd. (Mantra) is a diversified Green Tech company seeking to become a world-leader in the development of commercially viable sustainable technologies by minimizing the impact of human activity of our climate, environment and health.Mantra was incorporated in January 2007, and began trading on the NASD OTCBB in December of 2007 under the trading symbol MVTG.OB. As of March 23, 2009, there were 27,491,180 shares issued and outstanding, with a public float of 4,622,233. The company is also traded on the Frankfurt Stock Exchange under the trading symbol: 5MV.1244 1114151617A Message from the PresidentDescription of BusinessTechnologies Under DevelopmentElectroreduction of Carbon Dioxide (ERC)Biometals Recover System (BRS)The Road AheadRisks and UncertaintiesManagement SummaryReferences
Profitability Through Sustainability1Mantra Venture Group Executive Business PlanA Message from the PresidentThe world is rapidly changing before our eyes. Pollution from human processes has led to intolerable greenhouse gases - causing an increase in global average temperatures and an imminent threat to human health. Global fossil fuel reserves are hastily dissipating, and our most vital natural resource, water, continues to be abused and polluted by inefficient and unnecessary human behavior. With 40% of global greenhouse emissions currently coming from electricity generation, alternative energy and clean energy strategies are finally being brought to the forefront.At Mantra, we are committed to developing and commercializing technologies that support a greener economy: meeting the needs of the present without compromising the future. Subsequently, our Corporate Mission is to provide businesses and people with the means to achieve significant, sustainable reductions in their ecological footprint, and in doing so, ensure that our investors benefit both morally and financially from their investment. Our current efforts are focused on two pressing markets: the reduction of carbon dioxide and the treatment of mine wastewater. Subsequently, Mantra has positioned itself to become the leader in each of these niche markets through the acquisition of two key technologies: the Electroreduction of Carbon Dioxide (ERC) and the Biometals Recovery System (BRS).In October 2008, we completed our first ERC prototype, capable of processing 1 kg of CO2 per day. The response from this technology has been overwhelming, and we are now in negotiations with several government organizations and international corporations to collectively develop the company’s first commercial scale reactor. Mantra hopes to finalize the first set of partnerships by May 2009, with completion of the commercial scale reactor scheduled for Q2 2010.In addition, in February 2009, Mantra identified 43 Grant Research Programs that fit strategically with the company’s current R&D efforts. We have already began applying for these grants, and if successful, this non-toxic funding could account for anywhere from 70% to 100% of future development costs. We expect to receive approval from our first grant application by the end of March, 2009.This is a time of change: the old economy was largely dependent on fossil fuel for power, and in this context the economic interests and drivers were understood, but all of that is now in flux. The new economy will be marked by: alternative fuels, renewable energy, energy saving strategies, and carbon management - as the release of carbon becomes increasingly expensive. Mantra has positioned itself at the hinge point, guiding its investors toward those technologies that will significantly shape the coming economy. The environment will benefit from these improved green technologies; the new economy will form around them; and at the center will be Mantra and its investors. These are just a few of the many happenings currently taking place within Mantra Venture Group Ltd, and our highly-motivated team will lead to our continued acceleration into the Green Tech Marketplace in 2009.Larry KristofPresident and Chief Executive OfficerMarch 23, 2009
2Porfitability Through SustainabilityMantra Venture Group Executive Business PlanDescription of BusinessCorporate ObjectivesThe objectives of Mantra Venture Group are:Profit1. - To generate sufficient profit to satisfy the investors and to provide the resources needed to achieve the broader objectives of the company and its shareholdersGrowth2. - To grow the business at a rate that is both challenging and manageable, that impresses the investors, but allows the company to keep all elements of the business coordinatedCommunity3. - To be an intellectual and social asset to the community and to encourage improvement in the environment. This will be achieved by encouraging new companies with new technology, applying that technology, and in this way facilitating change in lifestyles by consumers, business and industryInvestor4. - To help the individual investor by choosing a basket of suitable green opportunities, a portfolio that is well researched and diversifiedThe goal of Mantra is to bridge the gap between innovation and investment by aggressively seeking out and incubating clean tech innovations and renewable energy solutions. Mantra’s competitive advantage lies in its ability to flexibly pair together investment and scientific expertise to guide promising new technologies through development and into the market. Based in the Pacific Northwest, a hot-bed of Green Tech innovation, Management has already been successful in acquiring the rights to two revolutionary sustainable technologies: the Electroreduction of Carbon Dioxide (ERC) technology, and the Biometals Recovery System (BRS). Mantra is currently in the process of further developing these two technologies.In collaboration with Kemetco Research Inc., Mantra established a research facility in Vancouver, British Columbia for development of its technologies in May 2008. Staffed by dedicated research team, this plant has capabilities in chemical analysis, chemical, metallurgical and mining engineering, as well as a fully equipped scientific laboratory and pilot plant.
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Business ModelMantra’s aggressive eight-step growth strategy, as outlined below, will see the company create a significant return on investment for investors by becoming a key contributor to the global effort for environmental sustainability.Environmental Assessment:1. Observe current and future trends in global environment, including: climate change, energy use, pollution and natural resourcesIdentify Future Need:2. Recognize environmental trends of greatest concern that lack technical solutionsUnderstand Regulatory Framework 3. Surrounding Need: Investigate political and regulatory environment and barriers affecting entry into identified market Locate, Evaluate and Acquire Technology 4. Surrounding Need: Draw upon management and technical expertise to select technologies best suited to meet identified needInvestment*:5. Inject capital into projectInfrastructure, Incubation and Innovation*6. : Use capital injection and management expertise to establish formal corporate infrastructure and optimize technology to best suit intended application(s)Market Acceptance and Adoption:7. Entrance of technology into local, national and international marketplaceLicensing and or Spin-off Business Unit:8. Revenue generation through licensing agreements with industry-leading organizations, with sale of entire business units as an alternate exit strategy*Note: Many Green Tech projects require a massive initial investment; it would not be viable for Mantra to directly undertake one of these major projects independently. Therefore, its strategy is to either i) approach the project by means of partnership or joint venture with a larger organization, or ii) search for ancillary or supporting products and technologies that will contribute to much larger projects and which will succeed as the larger projects proceed. In this way Mantra will tap into worldwide markets, even if it is not directly responsible for the entirety of the larger project.In addition to the above, Mantra established Mantra Media Corp in July, 2007. Mantra Media Corp. is a Green Tech marketing and graphic design organization with the purpose of helping Mantra, its subsidiaries, and its clients to optimize their presence through the eyes of government, Industry and the general public. This subsidiary group offers Mantra a consistent revenue stream while other technologies progress through the business model above.
Smart
Systems
Power
Saving
Alternative
Energy
Carbon
Footprint
Environmental Assessment
Identify Future Need
Investment
Partnerships
- Govt
- Corporate
Infrastructure, Incubation & Innovation
Market Acceptance & Adoption
Licensing
Understand Regulatory Framework Surrounding Need
Locate, Evaluate, Acquire Technology Satisfying Need
PROFIT
antra Media Corp
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Technologies Under DevelopmentThe NeedCarbon dioxide is increasingly notorious as a cause of global warming. In fact, the EPA estimates that US industry produces approximately 147 terragrams of CO2 equivalent, approximately 30% of which comes from the production of iron and steel. As Illustrated below, CO2 accounts for 84.8% of all emissions, with Electricity Generation having the greatest impact of all economic sub-sectors. (Environmental Protection Agency, 2006)Electroreduction of Carbon Dioxide (ERC)Subsequently, public and regulatory scrutiny has become a major burden to large stationary industrial producers. However, other than energy conservation, Carbon Capture and Storage (CCS), the process of separating CO2 from emission sources and transporting it to a storage location for long-term (indefinite) isolation, is the only potentially viable option for CO2 reduction today. Carbon Sequestration, the process of permanently storing CO2 underground, has garnered the most significant attention to date, with corporations and governments committing $ Billions USD in large sequestration pilot projects and research. Nonetheless, this technology still faces significant challenges, as it is far from being cost effective. In addition, sequestration has raised serious environmental concern, legal and regulatory issues due to the unknown ramifications of permanently storing CO2 underground. The amount of CO2 emitted annually from industry, fossil fuel combustion and utilities, coupled with the aforementioned lack of viable mitigation technology, presents a giant window of opportunity for entrants into the CCS market.
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TechnologyIn November 2007, Mantra acquired the 100% outright ownership of a chemical processing technology developed by the University of British Columbia’s Clean Energy Research Center, entitled the Electroreduction of Carbon Dioxide (ERC). Powered by electricity, ERC combines captured carbon dioxide with water to produce high value materials that are conventionally obtained from the thermochemical processing of fossil fuels, including: formic acid, formate salts, oxalic acid, and methanol. Rather than worry about the impacts and properties of CO2, Mantra harnesses its useful properties and transforms the gas into several useful and valuable by-products.CO2H2OElectricityValuable Chemicals(Formic Acid, Methanol, Oxalic Acid, etc)
6
Advantages of ERC technologyMVTG management asserts the following potential advantages relative to alternative methods of CO2 capture and conversion:Process is driven by electric energy that can be taken from an electric power grid supplied • by hydro, wind, solar, tidal or nuclear energy (all renewable).Medium reaction rate allows for commercial • viable CO2 processing timesMedium CO• 2 space velocity gives the ability to treat comparatively large volumes of CO2.High product selectivity for formate and formic • acid (up to 90%)Low operating temperature (20° to 80° Celsius) • and pressure (below 1 MPa or magnitude of pressure) Hydrogen is not required as a feed reactant, but • is already present in water used in the processERC by-products represent useful, and financially • profitable sources of incomeERC pilot projects can be executed on any scale, • whereas sequestration can only be performed on a very large scale, leading to exorbitant research and development expendituresIn October 2008, Mantra completed its first ERC prototype, capable of processing 1 Kg of CO2 per day. The company’s first commercial scale reactor is schedule for completion by Q2 2010, and will be designed to process 1 ton of CO2 per day. Completion of this project will be followed by the development of a reactor capable of processing 100 tons of CO2 per day. Mantra’s ER technology is Patent pending worldwide, as described in the PCT Patent Application WO2007/041872 “Continuous co-current electrochemical reduction of carbon dioxide.”
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Mantra Venture Group Executive Business Plan
ERC Reactor
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MarketsMantra’s objective is to make electrochemical reduction of carbon dioxide not only cost effective but profitable for emitters for whom CO2 management is either mandated or desirable. Therefore, the primary market for ERC technology will be the major sources of stationary CO2 production: industry, fossil fuel combustion, and utilities. The International market for carbon dioxide management is currently in the Billions USD and carbon emission credits are traded at values up to $40 USD per ton of CO2. Iron and Steel Production in the US alone accounted for 45.2 Terragrams of CO2 equivalent in 2005, representing approximately 30% of overall CO2 emissions from industry. (Environmental Protection Agency, 2006) Upon successful entry into the CO2 market, a powerful and perhaps even more profitable market will develop for its useful by-products. Sodium Formate and Formic Acid, two of the main by-products of ERC, currently have an average market value of $1,200/ton, with more than 600,000 tons of formic acid produced annually (Li, 2006). Their applications are diverse, including feedstock preservatives, de-icing solutions, cleaning solutions and baking soda to name a few. The market for formic acid has experienced continual growth and demand over the past several years, mainly attributed to the following: European and developing country demand for formic acid in silage, rising raw materials, energy and logistics costs; and animal feed preservative and Asian demand for formic acid in the leather, rubber, food and pharmaceutical industries. The average market price of formic acid is expected to increase by as much as 20% in 2009. (Dunia Frontier Consultants, 2008)However, if the ERC process reaches market acceptance as a way for industry to deal with exhaust gas from power production, it will likely lead to supply of formic acid in excess of market demand. Fortunately, Mantra has identified several future applications for formic acid, leading to a prolific expansion in current market demand, including steel pickling, fuel cell development and as a fuel additive.$752$1000$1200$1440
ERC Plant
Formic Acid
HCOOH
deicing
runways
pulp &
paper
animal feed
sterilizer
steel
pickling
rubber
cleaning
products
pharmaceuticals
leather
treatment Coal plant/power plant
CO2 emitter
CO2 CO2
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Steel Pickling is part of the finishing process in the production of certain steel products in which oxide and scale are removed from the surface of strip steel, steel wire, and other forms of steel, by dissolution in acid. A solution of either Hydrochloric Acid (HCl) or Sulfuric Acid is generally used to treat carbon steel products, while a combination of Hydrofluoric and Nitric Acids is often used for stainless steel. As an organic acid, Formic Acid would be a very attractive replacement for Hydrochloric Acid (HCI) in the steel pickling process. Formic Acid has many advantages over HCI under this application, including: less iron would be lost from the steel surface, the final surface quality would be improved, corrosion inhibitors and neutralizing rinse process would be eliminated. In addition, Formic Acid is both bio-degradable and reusable and process water could be recycled more easily. The following diagrams depict the production and usage of Formic Acid in a 13,000 tpd steel plant.The following shows the integration of Mantra’s ERC system into a steel mill making 13,000 tpd of 16 gauge rolled steel; ERC is designed to take the CO2 from the steel plant and convert it into Formic Acid which is then used to replace the use of Hydrochloric Acid in pickling the hot-rolled steel. In the manufacturing process, iron ore is converted into steel which is poured into billets; these are later reheated and rolled into strip steel; as they are being rolled oxides form which must be removed to provide a clean surface. The finished steel strip goes on to make refrigerators, car panels or other steel products.Formic Acid Production in a Steel PlantFormic Acid Use in a Steel Plant
Precipitate
Fe
Steel
Pickling Tank
tpd = tonnes per day (metric)
Azeotropic
Distillation
5.9 tpd H2
Recycle to Power Plant
539 tpd H2O
54 tpd
Formic Acid
54 tpd Formic Acid Recycle
539 tpd Water Recycle
13,000 tpd
Hot Rolled Steel
@16 Gauge
270 tpd Formic Acid 427 tpd Ferrous Formate
427 tpd Ferrous Formate
539 tpd Water
Ferrous Formate
Recycle to Blast Furnace
54 tpd Excess Formic Acid
12,837 tpd Cleaned Steel
ERC Steel Plant 13,000 tpd
Steel Production
30,000 tpd CO2 258 tpd CO2
29,742 tpd CCS
Cathode
Anode
CHOO-
270 tpd
CHOOH
(Formic
Acid) H+ O2
105 tpd H2O
94 tpd O2 for
Use in Power Plant,
H2 Used in Direct
Reduction of Steel
8 MWH/tonne CO2
from Power Plant
tpd = tonnes per day (metric)
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Mantra Venture Group Executive Business Plan
Approximately ¼ of the HCI produced in the U.S. is used for pickling steel (American Chemistry, 2003), consuming an estimated 5Mt/year.Another potentially lucrative market for formic acid is in Fuel Cells. In fuel cells, liquid fuels are indirectly combined with oxygen to form carbon dioxide and water, while generating electricity- a process known as electro-oxidation. The complimentary nature of ERC and electro-oxidation makes it possible to use ERC in a regenerative fuel cell cycle, where CO2 is converted into a fuel that is consumed in a fuel cell to regenerate CO2.The development of direct formic acid fuel cells (DFAFCs) is likely to be a significant commercially valuable use of formic acid. DFAFCs are gaining popularity over hydrogen and methanol based fuel cells because of their ease of refueling, efficiency, and safety. DFAFCs are currently being tested by major producers of portable electronics in phones, laptops and computers. With continued development, there is potential for DFAFCs to challenge traditional batteries as power sources for mobile electronic devices with large scale applications expected to follow. In addition to the production of formic acid, the ERC process can be adapted to produce ammonium formate- a potential fuel additive currently being tested in Europe and Japan. This chemical compound shows great promise in reducing NOx emissions when added to diesel fuel- potentially representing yet another secondary market for the electroreduction of carbon dioxide. EnergyRenewable EnergyCarbonDioxideFormicAcidERCCO2 Converted to Formic AcidFuel CellFormic Acid Converted to CO2PartnershipsGiven the magnitude of the ERC project, both government and corporate partnerships will play a pivotal role in further development of the ERC technology. Government Programs and Grant Relations A Grant Research Report, completed in February 2009, identified 43 funding programs that fit strategically with the company’s current R&D efforts. Mantra has already began applying for those grants as recommended in the report, and if successful, Mantra could recover anywhere from 70% to 100% of future development costs. The Company expects to receive approval from its first Grant application by the end of March, 2009. The objective of this first Grant Program is to establish the technical basis for electro-reduction of carbon dioxide to formate via continuous electrochemical reactor. The main milestones to be achieved are: i) to develop longevity of catalyst materials for anode and cathode used in the electrochemical reactor, ii) to develop an in-situ catalyst regeneration method for the cathode catalyst material, and iii) to resolve formate crossover and prolong the lifetime of the employed membrane.
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Corporate PartnershipsMantra has been in contact with several key players within its identified target markets, including: environmental risk management, steel production and pickling, chemical production (formic acid), utilities and fossil fuel production. Mantra is now in the process of finalizing Partnership Agreements with a host of international corporations, and while yet to be finalized, the aforementioned agreements should lead to increased capital resources to expedite development and optimization of the commercial scale ERC reactor. Mantra will also benefit from international exposure in areas including Asia, Western Europe and Australia, and ultimate entry into applicable markets. The Company is looking to finalizing these first set of agreements by May 2009.The estimated electrical cost of producing formate from CO2 is 8MWhr per ton. This is approximately $480 of electricity per ton of product at $0.06 per KWhr. The formate market price is approximately $1,200 per ton. Factors such as carbon credits, savings in shipping for on-site production and use, and savings with respect to using formic acid (for improved process performance) over other inorganic acids improves economics even further. The following is a list of potential revenue sources of income to Mantra from ERC:Revenue SourceEstimated Start DateDemonstration projectsQ3 2009Licenses for various applicationsQ3 2009Off-take (licenses for sale of product)Q2 2010RoyaltiesQ2 2010Step-out Patents (possibly with third parties) 2010Ultimate sale of the technology2013 (or sooner)Mantra has forecasted a ROI for the user of ERC of between 5% and 20%, however, this estimate will become more accurate with additional lab testing.In addition, Mantra stands to benefit from significant revenue generation through the sale of ERC by-products- formic acid being the main contributor. As ERC succeeds and produces formic acid in volume, numerous applications for formic acid are expected to develop, rapidly expanding upon its current market. The following is a broad projection of potential worldwide markets for Formic Acid:ApplicationPotential Market Size (Annual)Existing demand$0.75 billionHot Rolled Steel pickling$5 BillionPulp Processing$4 to $5 BillionTotal Worldwide$10 BillionManagement estimates that by leveraging upon government support and corporate partnerships, ERC could develop and prosper in these markets, taking 50% of total market share for formic acid within 5 years ($5 Billion USD). While the increased availability and production of formic acid may erode its current market value, simultaneous technological improvements and volume price breaks are expected to ensure ERC’s success within the marketplace. Capitalizing on Electroreduction of Carbon Dioxide
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The NeedWhile sub-surface mining has been a lucrative business for centuries, the excavation methods used often lead to Acid mine drainage (AMD) or acid rock drainage (ARD) either during the course of operation or upon abandonment of the mine. AMD, is now responsible for the contamination of 40% of western waterways, as estimated by the EPA.The cause of this problem is simple. While in operation, excavation often progresses below the water table- requiring water to be constantly pumped out of the mine in order to prevent flooding. Once abandoned, water typically floods the mine, and exposure to air and water cause the oxidation of metal sulfides within the surrounding rocks and overburden which generates acidity. BIOMETALS RECOVER SYSTEM (BRS)Copper mines are often major culprits of ARD (Acid Rack Drainage), with iron, zinc and nickel mines also contributing significantly to this global dilemma. While the U.S. Bureau of Mines estimates current AMD remediation expenditures to be $1 Million per day, these efforts have been largely inadequate due to the ineffectiveness of current AMD mitigation technologies. (Environmental Protection Agency, 2008). For example, in 2004 the EPA listed 63 hardrock mining Superfund sites with a combined estimated cleanup costs of $7.8 Billion- representing only a fraction of the global market demand. (MAC Mines and Communities, 2007)TechnologyOn February 27th, 2009, Mantra signed an exclusive Option Agreement to acquire the license of a mine wastewater technology: Biometals Recovery System (BRS). BRS is focused on treatment of acid mine drainage, metal recovery and energy savings. BRS is a biological-based water treatment system that selectively recovers and upgrades valuable metals with maximum energy recovery. The technology has the potential to utilize wasted energy sources for further savings and excess power generation. The system also includes the flexibility to produce useful sulfur by-products where the markets are favorable. The BRS technology is currently in the critical patenting process; therefore, more detailed information outlining its unique chemical processes and capabilities is not currently available.
+ + + + = 2FeS2(s)7O22H2O2Fe2+ (AQ)4H+ (AQ)4SO42- (AQ)Acid Mine Drainage
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MarketThe primary market for the Biometals Recovery system is Acid Mine Drainage Treatment. The US Environmental Protection Agency ranks mining as the United States’ top toxic polluter, releasing cyanide, lead, arsenic, mercury and many other harmful chemicals into surrounding areas. In fact, the mining industry in the United States generates more than two billion pounds of toxic waste annually.There are currently hundreds of major sites worldwide requiring treatment. While many of these mines require an average of $10 Million in clean-up efforts, the environmental impact of other mines has been far more significant. Asarco, a smelting company that declared bankruptcy in 2005, left 94 superfund sites in 21 states, with a total estimated clean-up cost of more than $1 Billion- a staggering 10 times larger than the company’s budget set aside for clean-up. A secondary market fro Mantra’s BRS technology is • Heap Leaching Metal Recovery. In contrast to many dump leaching operations, heap leaching is a pre-planned process where the mineral ore or concentrate is piled in a heap and lixiviant fluid is distributed over the surface to leach metal from the heap, as detailed below:The soil on a slightly sloping ground is first compacted and then covered with an impermeable • pad like an asphalt layer or a flexible plastic sheet.Crushed ore is stacked in big heaps on the pad. Fine particles are agglomerated to increase • permeability.The heap is sprayed with leaching reagent.• As the reagent percolates through the heap the wanted metals are solubilized.• The leachate (metal containing solution) drained from the heap is collected in a pond and • the solution is subsequently sent for metal recovery.Heap Leaching followed by solvent extraction and electrowinning(BioMineWiki, 2008)Heap Leaching procedure(BioMineWiki, 2008)Heap leaching is currently responsible for 20% of worldwide copper production. Heap leaching is currently responsible for 20% of worldwide copper production, representing an approximate market value of $12 Billion USD. Given the opportunity to acquire the BRS technology, Mantra looks to capitalize on this underserved mammoth of a market by providing the worlds largest mining companies with effective and affordable AMD remediation and heap leaching solutions. WheelLoaderTruckCopperOreGyratotyPrimaryCrusherSecondaryConeCrusherTertiaryConeCrusherAglomerartionHeap LeachingSpent SolutionPregnatSolutionSolventExtractionCu ElectrolyteCopperCathodesElectrowiningSpent ElectrolyteRaffinateMine
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Mantra Venture Group Executive Business Plan
PartnershipsWhile this technology is still relatively new to Mantra, the company will soon be looking to establish mutually beneficial partnerships with the world’s leading mining companies, utility operators and regulators, and Government. Companies such as: Freeport McMoRan, Agnico, Southern Copper Corp., Sterlite, Madeco, Sditya Birla, Molymet, Jiangxi Copper Company and EPCOR each represent ideal partnership opportunities. Through these collaborative efforts, Mantra will provide the technology and technical know-how to reduce or eliminate the environmental liability associated with their contaminated water, and they will in turn share in establishing the necessary infrastructure and capital to achieve deployment of this technology on an international scale.Capitalizing on Biometals Recovery SystemMantra’s BRS business model is project-based and focuses on the development of selected large-scale projects in collaboration with key industry partners, resulting in on-going profitability for all parties involved. In addition, Mantra anticipates licensing the BRS technologies to resource companies for their own applications for projects that do not fit within Mantra’s discretionary project criteria.Therefore, revenue sources stemming from BRS partnership opportunities will include sales of:Water Treatment• Metals • Excess Energy• Sulphur Products• In addition, Mantra will receive licensing fees and royalty payments for those projects in which Mantra takes a passive role by licensing the BRS technology.Bioteq Environmental (TSX: BQE), one of the pioneers in the AMD remediation sector, represents a fairly accurate representation of Mantra’s intended entry into this industry. Bioteq’s technology, as developed by the same inventor of Mantra’s BRS technology, has led to annual revenues of $4.6 Million USD since going public in 2000. In 2007, Bioteq processed a total of 4.46 billion liters of water, recovered 1.4 million pounds of copper and increased its operations and engineering staff by 40% (www.bioteq.ca). Furthermore, given BRS’ advanced capabilities, Mantra feels confident it could rapidly overcome the market penetration rates achieved by Bioteq.Heap Leaching Metal RecoveryWater Treament
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Mantra and its investors have many things to look forward to in 2009, including, but not limited to the following.Commercial Scale ERC Reactor:• Mantra is currently in negotiations to initiate commercial trials of a 1 ton CO2 per day ERC reactor attached to an existing steel manufacturer, lumber mill, power plant or other large CO2 emitting facility. These commercial trials, along with continuing work by Kemetco Research will help the company more accurately determine the overall costs, reliability, maintainability, various product specifications such as the type and concentration of the anolytes and catholytes, production rates and plant operating specifications for the ERC reactor. This reactor is scheduled for completion in Q2 2010.Government Research and Grant Funding• : Mantra expects to receive approval from its first Grant application by the end of March, 2009. Building Corporate Partnerships• : Mantra is in the process of finalizing Partnership Agreements with a host of international corporations in the areas of: environmental risk management, steel production and pickling, chemical production (formic acid), utilities and fossil fuel production. Mantra is looking to finalizing this first set of agreements by May 2009. Increased Governmental Support for Green Technologies• : Governments worldwide are now offering $Billions in funds (USD) for Research and Development programs aimed at environmentally sustainable technologies in an effort to save the planet. The United States stimulus package, signed by Barack Obama on February 17th, for example, promised to spend $86 Billion USD on energy plans- including $20 Billion in renewable energy projects.Acquisition of New Technologies• : Though Mantra is focused on bringing its ERC reactor to market as quickly as possible, it will also be engaged in the research, evaluation and possible acquisition of additional technologies. Increased Management Team and Board of Directors• : Mantra anticipates adding a number of directors as well as some management personnel in order to expedite ERC’s commercialization and branch the company out into new technologies without losing the focus and drive that has brought it so much success.Listing on New Stock Exchange• : In an effort to increase its exposure and liquidity to the rapidly expanding Green Tech investing community, Mantra intends to list on one or more new stock exchanges by Q3, 2009. Exchanges currently under consideration include the TSX.V (Canada) and CNSX (Canada). Note that the company will continue its current listings (OTCBB: MVTG, Frankfurt: 5MV). The Road Ahead
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Mantra Venture Group Executive Business Plan
Technology RiskERC: Mantra notes that there is no guarantee that the potential advantages in ERC will persist in commercially viable production, and cites other challenges:Catalyst deterioration.• High-energy input.• Expensive reactor materials.• Reactor not yet scaled to commercial capacity.• Reactor not yet integrated into a complete fuel cell recycle process. • Quantity of output may saturate the market and reduce profitability. • BRS: in addition, the Biometals Recovery System is currently in initial stages of development, and an efficient commercial scale model has not yet been completed. Mantra has identified these challenges and is working internally with the Kemetco research team and with fuel cell and chemical companies to address them. Risks and Uncertainties
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Larry KristofPresident/Chief Executive OfficerPrior to founding Mantra Venture Group Ltd., Mr. Kristof served as President and Chief Executive Officer of Lexington Energy Services Inc., a Calgary, Alberta company he co-founded.   Under his direction, Lexington designed and commercialized innovative mobile drilling rigs and nitrogen generation technologies. He successfully raised capital for the company on public markets. Before establishing Lexington, he founded Westec Venture Group Inc., a company which provided business development and venture capital services. Dennis PetkeChief Financial OfficerMr. Petke is qualified as a Chartered Accountant in Canada, and has been a member of the Institute of Chartered Accountants of British Columbia since 1995. Currently serving as a director and/or chief financial officer for a number of private and public companies, his responsibilities include strategic and overall financial management for these companies. Mr. Petke has accumulated extensive experience in the area of corporate finance, including negotiating and implementing private and public company mergers, as well as facilitating private placement, preference share, convertible debenture, special warrant and debt financings. John P. RussellVice President of Technology EvaluationA founding member of Mantra’s management Management Summaryteam, Mr. Russell has over 30 years experience in the identification, evaluation and marketing of technological resources. From 1995 to 2007, Mr. Russell was as Vice President of Technology with ARC Sonics Inc., a specialty engineering firm. He has authored several scientific publications and has presented technological innovations at conferences internationally. Mr. Russell holds a Bachelor of Arts from the University of British Columbia.Professor Colin Oloman, P.EngScientific Advisory Board Member and Consulting ScientistThe co-inventor of the ERC, Prof. Oloman has been a member of our Scientific Advisory Board since November 2, 2007. Prof. Oloman is a graduate of the Universities of Sydney and British Columbia and has been engaged in the field of chemical engineering for 40 years, both in academia and industry. As a faculty member in the Department of Chemical and Biological Engineering at the University of British Columbia, from which he retired in 2004, Prof. Oloman has taught a range of undergraduate and graduate courses in the area of chemical and biological engineering. A professor emeritus of the University of British Columbia, professional engineer, member of the Chemical Institute of Canada and the Electrochemical Society, Prof. Oloman has authored or coauthored three books (Ol’s Notes on Material and Energy Balances, Electrochemical Processing for the Pulp and Paper Industry, Handbook of Fuel Cell Modeling) plus numerous proprietary reports and publications in technical journals. He is also an inventor or co-inventor of some twenty U.S. and international patents. Prof. Oloman’s
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Mantra Venture Group Executive Business Plan
Joey Jung, P.EngResearch Engineer, Kemetco Research Inc.Joey Jung earned his Masters of Applied Science Degree from the University of British Columbia in Chemical Engineering and subsequently became a Registered Professional Engineer (P. Eng.) in British Columbia. He has had a successful career in electrochemical engineering and battery research, formerly serving as Vice President and Chief Technology Officer of a publicly traded battery development company.Dr. Edward J. AnthonyScientific Advisory Board Member Dr. Edward J. Anthony has been a member of our Scientific Advisory Board since January 23, 2008. Currently, Dr. Anthony is a Senior Research Scientist for the National Research Council (“NRC”), Canada, based in Ottawa. Dr. Anthony has had a lifetime of involvement with energy issues and most recently served as the Canadian Representative on the International Energy Agency and as the Session Chair responsible for the September 2007 Greenhouse Climate Change Sessions of the Pittsburgh Coal Conference in Johannesburg, South Africa. He has authored over 100 papers published in refereed journals, and directed several research projects at the NRC on the capture and sequestration of carbon dioxide for greenhouse gas abatement.ongoing research and consulting interests are centered on electrochemical systems, with a focus on the design of electrochemical reactors for electro-synthesis and power generation.Norman Chow, P.Eng President, Director, Industrial Process, Kemetco Research Inc. Norman Chow earned a B.A.Sc. in Metals and Materials Engineering from the University of British Columbia, graduating top of his class. Continuing his education, he received a Masters of Applied Science Degree and then became a Registered Professional Engineer (P. Eng.) in British Columbia. Mr. Chow has over 10 years of technology development experience and contract research experience. Mr. Chow also co-invented a patented electrochemical metal cleaning process that is used worldwide by multi-national companies. He has a background in technology development, business management, international sales, project management and manufacturing. Mr. Chow has been the winner of several prestigious awards that recognize his skills in engineering and business. In 1996, his patented metal cleaning technology, won the Financial Post Gold Award for being the Top Environmental Technology in Canada, and then in 2004 he was named the winner of the Business in Vancouver Top Forty under 40 Award.ReferencesAmerican Chemistry (November 2003). Hydrochloric Acid-HCI- An Acid With Many Uses. Retrieved March 10, 2009 from • http://www.americanchemistry.com/s_chlorine/sec_content.asp?CID=1255&DID=4735&CTYPEID=113BioMineWiki (September, 2008). Heap Leaching. Retreieved March 5, 2009 from http://wiki.biomine.skelleftea.se/wiki/index.• php/Heap_leachingDunia Frontier Consultants (June, 2008). Dunia Formic Acid Survey. http://www.dfcinternational.com/files/• DuniaFormicAcidSurvey15June2008.pdfEnvironmental Protection Agency (2006). Industrial Processes. Retrieved March 12, 2009 from http://www.epa.gov/• climatechange/emissions/downloads06/07Industrial.pdfEnvironmental Protection Agency (October, 2008). Wastewater Purification Process Recovers Market-Grade Metals and • Sulfur. Retrieved March 12, 2009 from http://www.epa.gov/nrmrl/news.news082007.html Li, Yeli (June, 2006). The China Chemical Reporter.• MAC Mines and Communities (November, 2007). North America’s Toxic Mine Burden Galvanizes Groups Into Action. • Retrieved March 5, 2009 from http://www.minesandcommunities.org/article.php?a=8255 Murphy Analytics (January, 2009). ERC Technology Converts CO• 2 from Pollutant to Asset. www.murphyanalytics.com
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