Syniad Innovations Launches New Venture: Patronus Technologies

VANCOUVER, BC, March 29, 2021 – Syniad Innovations Inc (“Syniad”) today announced the incorporation of Patronus Technologies Inc. (“Patronus”), a defence materials company.

The basic need to defend oneself has delivered innovations from ancient to modern times. Today, the increased demand for humanitarian and relief support in complex contested environments is changing how first responders, tactical support and armed forces need to equip themselves. Innovation in these extreme environments is also a driving force for the new generations of consumer products in fields that range from automotive to recreation. At this intersection, between defence and consumer products, Patronus has been established to develop advanced protective materials to defend people and property.

Patrnous’ first step is to secure an intellectual property portfolio focused on non-Newtonian fluids. The portfolio of 28 patents was initially developed by BAE Systems plc. (LON: BA) and was transferred to Canada under the Federal Government’s Industrial & Technological Benefits program. These materials have a unique ability to increase shielding performance while simultaneously reducing weight compared to existing solutions on the market.

Iain Evans, Syniad’s Chief Investment Officer, commented, “As we regularly assess the innovations that society needs to protect people and property from harm is near the top of the list. Defence materials have a huge range of applications, and Patronus’ vision for lightweight, high-performance materials designed for scaled manufacturability, excites our partners and us. Patronus is a great illustration of how Research and Development emanating from one domain can lead to multiple benefits across a broad spectrum of applications.”