Vancouver, June 7th, 2023– Anodyne Chemistries, a Syniad Innovations venture, is delighted to announce that its EZ-Methanol project has been awarded grant funding from NGIF Capital Corporation through its Industry Grants Program. NGIF Investors and Project Partners include Birchcliff Energy, Shell, Tourmaline Oil, Pacific Northern Gas Ltd., and Enbridge Gas Inc.
Anodyne’s technology, the first of its kind to harness enzymes for carbon utilization, turns emissions into low-carbon fuels and specialty chemicals. It does so through a novel bio-electric process that harnesses renewable electricity to replace high-temperature, carbon-intensive processes. And because enzymes have evolved over millions of years to be energy and carbon efficient, there are no harmful or toxic by-products that require downstream clean-up and processing like conventional processes.
“What I like about Anodyne’s clean technology is its low-energy and zero-emissions solutions to convert industrial emissions into chemical products using natural-based enzymes, electrolysis, and engineering,” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “NGIF Industry Grants and its focus on de-risking clean technologies through field trials and pilots are part of NGIF’s integrated model of industry validation, customer creation, and market commercialization.”
“We are thrilled to receive industry funding to accelerate our EZ-Methanol project,” said Dr. Iain Evans, CEO of Anodyne. “NGIF has been instrumental in connecting us to industry and orchestrating a robust, member-led review process. They have challenged us to develop a solution that can deliver environmental and economic performance to the sector, and their funding will accelerate our efforts to transform current production into a viable, scalable, low-carbon alternative.”
Anodyne extends its gratitude to NGIF and its members for their confidence in the company’s vision and commitment to delivering a more sustainable future.
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About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage start-ups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates, and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen.
The organization has built a portfolio of start-ups, trusted partnerships with the government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.
About NGIF Capital Corporation
NGIF Capital Corporation is a Canadian venture capital (VC) firm offering grant and equity financing for start-ups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Capital Corporation is unique in how it brings Canada’s energy industry leadership to every investment. Like other VCs, it takes new companies and their ideas from concept to commercialization. Unlike other VCs, NGIF Capital Corporation has strong connections to every part of the gas value chain, from production through to end-use, offering it a means to test, develop, and accelerate the commercial implementation of innovative gas technology wherever it fits in the sector. The model benefits consumers, investors, and Canadian society as a whole. NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), the NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is wholly owned by CGA Enterprises, a venture of the Canadian Gas Association.
About Anodyne Chemistries Inc.
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 Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gaseous energy delivery industry, including natural gas, renewable natural gas (RNG), and hydrogen. CGA membership includes energy distribution and transmission companies, equipment manufacturers, and suppliers of goods and services to the industry. CGA’s utility members are Canadian-owned and active in eight provinces and one territory. CGA members meet 38 percent of Canada’s energy needs through a network of over 577,000 kilometers of underground infrastructure. The versatility and resiliency of this infrastructure allow it to deliver an ever-changing gas supply mix to over 7.4 million customer locations representing approximately two-thirds of Canadians. CGA members ensure Canadians get the affordable, reliable, clean gaseous energy they want and need. CGA is also working to constantly improve that gaseous energy offering, by driving forward innovation through the Natural Gas Innovation Fund (NGIF).