Anodyne Chemistries Secures $1M Follow-On Investment from NorthX Climate Tech

Vancouver, British Columbia – May 26, 2026: Syniad Innovations Inc. (“Syniad”) is pleased to announce that Anodyne Chemistries (the “Company” or “Anodyne”), a leading innovator in sustainable chemical production, has secured a $1 million follow-on investment from NorthX Climate Tech (“NorthX”) to support development of its EZ Formate Pilot Plant – a first for Canada and among the first of its kind globally in scaling the production of industrial chemicals from captured carbon dioxide.

The investment builds on NorthX’s initial $600,000 commitment in 2023, which helped Anodyne advance its bioelectric manufacturing technology from lab-scale into demonstrated industrial-grade processes. With this follow-on funding, NorthX brings its total investment in Anodyne to $1.6 million, demonstrating its role as a catalytic early-stage funder supporting companies from initial validation through to commercial readiness.

“The chemical industry is under pressure to find cleaner, more stable alternatives to fossil-fuel-based production, and Anodyne Chemistries is showing that BC can lead that transition,” said Adrian Dix, Minister of Energy and Climate Solutions. “NorthX’s investment in the EZ Formate Pilot Plant backs world-leading technology that turns CO₂ into valuable industrial chemicals, delivering both environmental and economic returns for the province.”

The EZ Formate Pilot Plant will validate the technology at industrial scale and lay the foundation for Anodyne’s first commercial facility, targeting 10,000 tonnes per year of formate production. At commercial scale, Anodyne stands to reduce up to 5.4 million tonnes of CO₂e annually and generate $100 million in annual revenue, helping establish British Columbia as a hub for low carbon manufacturing and making the case that carbon utilization can deliver real environmental and economic returns.

“NorthX’s early support allowed us to move quickly from initial development into building and testing our process at a commercial scale,” said Iain Evans, Chief Executive Officer of Anodyne. “Since then, we’ve grown our team, secured customers, and advanced the bioelectric manufacturing platform. This pilot is the critical step in demonstrating that our platform can deliver the cost and supply certainty needed by the world’s largest manufacturing systems. We’re grateful for NorthX’s continued support as we move into this next phase.”

“The chemical industry underpins modern life, but it’s still built on fossil inputs,” said Sarah Goodman, President and CEO of NorthX Climate Tech. “Anodyne is rethinking those inputs, using captured CO₂ and low carbon electricity to produce chemicals more cleanly, without toxic byproducts. We backed them early and have seen strong technical and commercial traction, and we’re proud to support this next phase as they demonstrate performance at industrial scale and help establish a new model for low carbon manufacturing.”

About Anodyne Chemistries
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/

About NorthX Climate Tech

Founded in 2021 with an initial investment from the BC Government, the Government of Canada, through Natural Resources Canada’s Energy Innovation Program, and Shell Canada, NorthX Climate Tech (NorthX) is a catalyst for climate action, funding the climate hard tech solutions that transform industries and build lasting prosperity.