Mantra Venture Group Ltd. (MTVG.OB; 5MV.F) announced that it has signed a Letter of Intent with Northwind Ethanol Inc. for a possible multi-stage investment in Northwind’s cellulose ethanol process.
Mantra is now conducting due diligence of Northwind’s proprietary technology, which is intended to support a closed loop cellulose ethanol production facility with zero emissions.
Northwind’s President, Mr. Fred Enga, said: "Northwind’s process is environmentally responsible and looks at ethanol production from an economic standpoint–we expect it to change the cost of ethanol fuel in the long term. Ours would be the first facility that is completely closed loop with no emissions."
Mantra and Northwind are evaluating plans for construction of an ethanol production facility in British Columbia, Canada that would take advantage on the abundance of waste wood feed stock available there as a result of pine beetle infestations and forestry activities.
Unlike traditional ethanol, which is produced from agriculturally demanding and valuable feed stocks, such as corn, wheat or soy, cellulose or cellulosic ethanol may be produced from a variety of agricultural waste or non- agricultural plants, such as waste wood, sawdust, paper pulp, corn stover and switchgrass.
About Mantra
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is set to enter the burgeoning green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth, Mantra intends to provide a highly profitable and, more importantly, socially and environmentally responsible investment for its shareholders.
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