Anodyne Chemistries Closes Seed Round to Further Scale Its Carbon Utilization Technology

Burnaby, BC – April 2, 2024 – Syniad Innovations Inc. (“Syniad”) is pleased to announce that Anodyne Chemistries (the “Company” or “Anodyne”), a carbon utilization company and the world’s first bioelectric manufacturer, has closed its seed capital round. The capital raise comes on the heels of the company being recognized by the Biomimicry Institute, receiving non-dilutive funding from Natural Products Canada, and will be used to fuel Anodyne’s rapid growth as it seeks to decarbonize the chemicals industry with its bioelectric technology platform.

Founded in 2021 Anodyne produces a range of chemicals using its patented Anozymes™️. Enzymes are nature’s catalysts, which Anodyne has engineered so that they can be powered using electricity. The company’s first product lines, the C-Series, converts CO2 into formic acid, formaldehyde and methanol.

Anodyne’s solutions remove the need for fossil fuel-based feedstocks and replace carbon intensive chemical processes with processes inspired by nature. As a result, Anodyne’s chemicals are safer to produce and less hazardous for customers, their employees and the environment.

“Anodyne is on track to become a critical enabler of decarbonization in the chemical industry, defining a new segment in a multi-trillion dollar industry,” said Dr. Iain Evans, CEO. “The company’s success to date proves that there is significant demand for bioelectric methods of chemical production. For customers, choosing between toxic, fossil-based chemicals and cheaper, safer, environmentally friendly bio-chemicals from Anodyne is a no-brainer.”

“This is a landmark in our young company’s history, and we want to thank our investors for their support as well as for their belief in our technology, team, and mission of decarbonizing the chemicals industry,” said CSO Manou Davies. “Our fundamental green chemistry and enzymatic technology have allowed us to create both products and technologies that no one in our industry currently possesses. Innovations like Anozymes™️ and bioelectric manufacturing illustrate how we understand the needs of our customers who are operating in an environment where product costs and emissions profiles are inextricably tied to the feedstocks they use.”

Anodyne will use this latest round of funding to scale up its development of its C-Series product line, establish its first MP3– multi-product pilot plant – as well as to further deepen an already robust talent pool of executives, chemists, and award-winning scientists and engineers.

“There is no other company today capable of bridging biology and electrochemistry at the level Anodyne is,” added Manou Davies. “The things happening inside Anodyne’s labs really do have the potential to change the world for the better.”

About Anodyne

Anodyne is an industrial biotechnology and renewable chemicals company developing a new generation of sustainable chemicals and low-carbon fuels using synthetic biology and electrochemistry. For more details, visit: https://anodynechemistries.com/