Mantra Venture Group Energy Storage Technology

About Mantra

Mantra Venture Group Ltd. •  OCTQB: MVTG •  Established 2007

•  Clean technology incubator

Mantra Energy Alternatives Ltd. •  Technology development company •  Owner of ERC Technology •  Exclusive licenser of MRFC Technology •  13 employees, including 9 full-time R&D staff (5 Ph.D.s)

•  Research facilities in Vancouver, BC, Canada

Mantra Energy’s Team Management  

• Larry Kristof - Founder and CEO - 20+ years in entrepreneurship and management

• Patrick Dodd - VP, Corporate Development - Master’s degree in Clean Energy Engineering

• Amin Aziznia, Ph.D. - Senior Research Engineer - Ph.D. in fuel cell development

• Sona Kazemi, Ph.D. - Senior Research Engineer - Ph.D. in fuel cell development

• Ashwin Usgaocar, Ph.D. - Senior Materials Scientist - Ph.D. electrochemist

• Piotr Forysinski, Ph.D. - Product Design Engineer - Ph.D. physical chemist

• Tirdad Nickchi, Ph.D. - Senior Electrochemical Engineer - Ph.D. electrochemist

• Christina Gyenge, Ph.D. - VP, Marketing & Innovation - 20+ years in tech innovation

• Randy Gue - Industry Specialist - 30+ years in process engineering at Lafarge Canada

Advisory  • Professor Emeritus Colin Oloman - 50+ years in electrochemical engineering & design

• Professor Elod Gyenge - Leading expert in alkaline fuel cells and electrochemical systems

• Professor Plamen Atanassov - Leading expert in electrocatalysis and fuel cells

• Dr. Alexey Serov – Assistant Professor in electrocatalysis and catalyst synthesis

• Norman Chow - President of Kemetco Research, history in technology commercialization

Partners  &  Collabora6ons  

Mantra Energy’s Technology

ERC Technology

Electro-Reduction of CO2

ERC Process

Emission  

Industrial Process

Conversion  

Waste Dangerous Pollutant

Valuable Industrial Chemicals

ERC

CO2

• Power plants • Cement plants • Refineries • Breweries • Bio-ethanol plants • Bio-gas plants • Chemicals production

Electro-Reduction of CO2

Formic Acid/Formate

H2CO2

•  Animal feed •  Leather tanning •  Textiles •  De-icing

Carbon Monoxide CO

•  Synthesis gas •  Methanol •  Acetic acid •  Fuel

Formaldehyde H2CO

Methane CH4

•  Construction •  Automotives •  Furniture

•  Energy storage •  Chemicals

Price Per Tonne: $1,000 - $1,500 Global Market: $1 billion

Price Per Tonne: $1,200 Global Market: >$30 billion

Price Per Tonne: $1,250 Global Market: $12 billion

Price Per Tonne: $200 Global Market: >$100 billion

CO2

ERC

Carbon Dioxide

Waste/Pollutant

Formic Acid Consumption

Japan

Formic Acid as Energy Storage

h"p://www1.eere.energy.gov/hydrogenandfuelcells/storage/images/storage_graph.gif  

Formic Acid as Hydrogen Storage

Reforming   +  Formic Acid Hydrogen Carbon Dioxide

•  Formic acid is 4.4 wt.% hydrogen

•  2,086 Wh/L for formic acid vs. 833 Wh/L for hydrogen at 5,000 psi

•  Pure formic acid is 21 mol/L vs. 35 mol/L for liquid hydrogen

•  Can be reformed easily at mild conditions to only gaseous products with no

production of CO

•  Methanol is more hazardous and cannot be reformed at mild conditions

ΔG298 = -4 GJ/mol

Formic Acid as Hydrogen Storage

•  Potential collaboration with Yuichiro Himeda of the National Institute of Advanced Industrial Science and Technology (Tsukuba, Japan)

•  100 kg/day CO2 to formate •  Lafarge cement plant (Richmond)

•  Objectives: •  Continuously process

industrial emissions •  Technology demonstration

ERC Pilot Plant and Market Validation

ERC Pilot Plant (Rendering)

ERC Competition

Indi

rect

D

irect

• Underground storage of CO2 •  >$20 billion global investment

• Conversion of CO2 to mineral carbonates •  >$128 million investment

• Conversion of CO2 to mineral carbonates •  >$60 million investment

• Algal conversion of CO2 to biofuels •  >$100 million investment

• Electro-reduction of CO2 to hydrocarbons

• Electro-reduction of CO2 to formic acid

Advantages

• CCS offers no financial returns •  Liability concerns with underground storage

• Mineral carbonates are very low value • Mantra’s products have a much higher value

• Mineral carbonates are very low value • Mantra’s products have a much higher value

• Biochemical processes are severely limited by space and geography

• Mantra was the first to file and receive patents for the continuous reactor

• Mantra will be first to industrial demonstration

• Mantra was the first to file and receive patents for the continuous reactor

• Mantra will be first to industrial demonstration

ERC Upcoming Milestones

2001  to  2006  Ini6al  Development  

UBC  

Mantra  Kemetco  Tekion  

2007  to  2012  Applied  Bench-­‐Scale  Reactor  Development  

2013  Internal  Laboratory  Launch  Pilot  Project  Contract  Research  

Mantra  Noram  BCRI  

2014 Launch detailed engineering ✔ Launch equipment procurement ✔Complete plant construction 2015 Commission pilot Begin pilot operation and demonstration Begin early license adoption

MRFC Technology

Mixed-Reactant Fuel Cell

Fuel Cell Markets

Hydrogen  

Conven=onal  Fuel  Cell  

Clean  Energy  

Clean  Energy  

• Backup power • Market: $2 billion

• Stationary power • Market: $5 billion

•  Industrial vehicles • Market: $1 billion

• Automotives • Market: $5 billion

Fuel Cell Markets

Hydrogen  

Conven=onal  Fuel  Cell  

Clean  Energy  

Clean  Energy  

• Backup power • Market: $2 billion

• Stationary power • Market: $5 billion

•  Industrial vehicles • Market: $1 billion

• Automotives • Market: $10 billion

“Seeing Future in Fuel Cells, Toyota Ends Tesla Deal”    

May 12, 2014

“Plug Power (PLUG), Fuel Cell Energy (FCEL), and Ballard Power (BLDP) sudden stock spikes signals a new wave of momentum for fuel cell industry.”

May 1, 2014

Conventional Fuel Cells MRFC

x  H2-­‐based  fuel  cell  stacks  

x  Expensive  polymeric  membrane  (15-­‐68%  of  cost)  

x  Heavy/bulky  flow-­‐field  plates  (10-­‐25%  of  cost)  

x  Flat-­‐plate  design  

x  Life=me  challenges  

x  Expensive  pla=num  catalyst  

ü  Liquid  fuel-­‐based  fuel  cell  stacks  ü  No  polymeric  membrane  

ü  No  flow-­‐field  plates  (smaller  and  lighter)  

ü  Cylindrical  design  

ü  Improved  life=me  

ü  No  pla=num  catalyst  

• Anticipated 60-80% cost reduction

• Demonstrated highest reported current density for a mixed-reactant system

Revolutionary unconventional design

Mantra’s Swiss Roll MRFC

<1% the cost of membrane

Swiss-Roll MRFC

•  Initial experimental work done with sodium borohydride

•  Alkaline borohydride chemistry:

Swiss-Roll MRFC

Highest  reported  power  density  for  a  mixed  reactant  system  

Platinum-Free Swiss Roll MRFC

•  MnO2 cathode

•  Os anode

Bipolar Operation and Scale Up of Swiss Roll MRFC

•  Multiple layer rolls •  Rolls in series

Other Fuels

•  The fuel cell can run with many liquid fuels besides borohydride, including:

•  Formate/formic acid

•  Hydrazine

•  Methanol

•  Ethanol

MRFC Upcoming Milestones

2008  to  2009  Ini6al  Development  

UBC  

2009  to  2013  Applied  Research  

UBC  UNM  

2014 Launch prototype development ✔Validation of new fuels Demonstrate vehicle prototype 2015 Scale to 1 kW stack Demonstrate in industrial equipment

MRFC Competition

• Developer of PEM fuel cells • Market Cap ~$450 million

• Developer of PEM fuel cells • Market Cap ~$540 million

• Systems integrator for fuel cell equipment • Market Cap ~$700 million

Advantages

• MRFC is 60-80% less expensive

• MRFC uses liquid fuels

• MRFC is more robust and has a longer

lifetime

• MRFC uses no platinum catalyst

• MRFC uses cylindrical design

• MRFC is smaller and lighter

Energy Storage

Integration of ERC and MRFC

“Energy Storage: The Key to a Reliable, Clean Electricity Supply”

“Tesla's Elon Musk: On Creating A Battery System For Energy Storage” May 7, 2014

“Bill Gates has invested in battery maker Aquion Energy in his third bet on an energy storage start-up since 2011.” April 2, 2013

“Energy storage: The key to a smarter power grid” April 23, 2014

Energy Storage Interest

Energy storage market expected to reach $25 billion by 2021

Formic  Acid  

Energy Storage

Industrial Applications

CO2  

Energy Storage

Hydrogen  

PEM  Fuel  Cell  Clean  Energy  

MRFC  Clean  Energy  

Clean  

Energy  

Mantra’s Energy Storage Solution

• Formic acid is an excellent hydrogen carrier • Hydrogen can be stored as formic acid, which is safe and stable

• Formic acid can be used directly in Mantra’s novel, low-cost MRFC