Mantra Venture Group Ltd.’s (MVTG.OB) Recent Memorandum of Understanding with Bluebird Co. Ltd.
Source: http://Blog.QualityStocks.net/?p=15238Posted on Tuesday, May 5th, 2009 | In Market Commentary, Small & Micro Cap
Last month, The District of North Vancouver (DNV) hosted the ceremonial signing of a Memorandum of Understanding (MOU) between Mantra Venture Group Ltd. and Bluebird Co. Ltd., an environmental engineering company based out of Seoul, Korea. As outlined in the terms of the MOU, Bluebird will become an integral partner in the development, deployment and commercialization of Mantra’s Electroreduction of Carbon Dioxide Technology (ERC) in Korea as well as various other territories within Asia.
In the press release announcing the ceremonial signing of the MOU, Larry Kristof, President and CEO of Mantra, stated, “The MOU signifies the beginning of a burgeoning partnership in which each party stands to benefit greatly. Both Bluebird and DNV have played integral roles in solidifying this promising partnership, and we are very encouraged by their commitment to innovative and sustainable development locally and abroad. Mantra applauds the efforts of the DNV in making this deal come to fruition, and we look forward to their continued support moving forward.”
Bluebird has committed to investing CDN $3.5 million for the development of commercial scale carbon dioxide processing equipment. In return, Bluebird will become Mantra’s exclusive licensee, distributor and manufacturing partner in Korea and other specified regions within Asia.
Mr. Tae-in Kim, President and CEO of Bluebird commented, “Our company is in the business of clean air and we are therefore very grateful for having been introduced to Mantra through the District of North Vancouver. Our goal is to bring the best technologies from Mantra and Bluebird together to become the number one Green Tech company in the world. I would like to thank all of you for your continued support and encouragement.”
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