Synodon Inc.
TSX VENTURE : SYD

Synodon Inc.

August 08, 2008 13:05 ET

SDTC Increases Investment in Synodon

EDMONTON, ALBERTA--(Marketwire - Aug. 8, 2008) - Synodon Inc. ("Synodon") (TSX VENTURE:SYD), is pleased to announce that Sustainable Development Technology Canada (SDTC) has increased its financial contribution to the realSens™ project by $332,813, bringing the total amount invested in Synodon to nearly $1,000,000.

Adrian Banica, Synodon President and CEO said, "We are very pleased with the confidence and support that SDTC continues to show in Synodon. The SDTC relationship was crucial in enabling Synodon to develop and demonstrate its realSens™ technology. The emissions detection and monitoring that realSens™ provides to the Natural Gas Industry (by sensing ethane) could have a significant positive impact on global GHG emissions. The recently announced capability to measure methane gas, was an extension of the work with SDTC and allows Synodon to now extend its services into other industries and have an even larger role in lowering future GHG emissions around the world."

"Canada's fossil fuel resources are one of our country's biggest economic drivers, but we must find cleaner ways to produce and use those resources," said the Honourable Gary Lunn, Minister of Natural Resources. "Synodon's realSens™ technology is a step in the right direction to help ensure cleaner air, which will improve our health and the environment."

"SDTC is a proud partner with Synodon in the development of the realSens™ technology," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada. "We believe the potential impacts of this technology when it hits the market, both from an environmental and economic standpoint, will be enormous. Working with companies like Synodon, SDTC is building a vibrant cleantech sector in Canada "

The realSens™ technology is based on intellectual property developed for Canada's Measurement of Pollution in the Troposphere (MOPITT) satellite instrument. MOPITT was launched on NASA's TERRA mission in 1999 and has been measuring global concentrations and distributions of methane and carbon monoxide, contributing a significant amount of knowledge and information to the climate change study. Synodon has adapted the space instrument concept to be deployed on a helicopter and target various gases of interest to industrial, environmental and government customers. The first two gas measurements currently marketed are for methane and ethane. These are used for the quantification of emissions from the energy, agriculture and waste management sectors.

These new funds will support the development of next generation components for the realSens™ instrument in addition to further natural gas pipeline testing and characterization.

Synodon Inc. (www.synodon.com) is an Edmonton based technology company which has developed and demonstrated an advanced airborne remote gas sensing system called realSens™, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company will provide gas emissions monitoring and quantification services to a variety of industries, including hydrocarbon (oil and gas), environmental, agricultural and for a variety of gases including methane, ethane and ammonia. The initial focus is on the hydrocarbon industry and in particular the natural gas pipeline sector.

Sustainable Development Technology Canada (www.sdtc.ca) is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of kind large demonstration-scale facilities for the production of next-generation biofuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.

Should you wish to receive Company news via email, please email chris@chfir.com and specify "Synodon." in the subject line or contact the Company directly.

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Synodon Inc.
    Adrian Banica
    President & CEO
    (780) 468-9568
    Email: investors@synodon.com
    Website: www.synodon.com
    or
    CHF Investor Relations
    Jeanny So
    Director of Operations
    (416) 868-1079 x225
    Email: jeanny@chfir.com
    or
    CHF Investor Relations
    Christopher Haldane
    Account Manager
    (416) 868-1079 x237
    Email: chris@chfir.com
    or
    Media Relations
    Natural Resources Canada
    Ottawa
    (613) 992-4447