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
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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