SYNIAD’S ANODYNE COMPLETES ITS FIRST EXTERNAL ROUND OF FINANCING

February 2nd, 2023, Vancouver, British Columbia – Syniad Innovations Inc (“Syniad”) is pleased to announce that portfolio company Anodyne Chemistries (Anodyne) has completed its initial round of seed capital for its first external round of financing.

Anodyne has developed a unique process for the low-carbon production of a range of emissions-intensive chemicals, bridging the fields of synthetic biology and electrochemistry. The company is currently focused on developing a range of carbon-based chemicals from CO2, using enzymes and renewable electricity.

Launched in May 2021, Anodyne is designed to provide chemical companies with an advantaged pathway to sustainable, bio-based chemicals and fuels.

Iain Evans, CIO at Syniad Innovations, said: “We are absolutely delighted to see Anodyne complete their seed round of financing. The team’s unique technology and architecture has multiple applications, which is what attracted Syniad. Now the teams’ ability to execute and match external rounds of financing alongside non-dilutive sources, has built the confidence needed to advance the company to the next stage of growth. We are delighted to be part of the journey with the team and congratulate the leadership on this important milestone.”