Synodon Signs Carbon Monetization Advisory Contract, Issues Stock Options
Edmonton, Alberta – October 8th, 2010 – Synodon Inc. (”Synodon”) [TSXV-SYD],
announces that it has signed a carbon monetization advisory contract with Tangerine
Tango Environmental Attributes Monetization Corp. (“Tangerine Tango”). Tangerine Tango is wholly owned and operated by Climate Change Infrastructure Corporation (“CCI”) and
works in partnership with Sustainable Development Technology Canada (“SDTC”).
“We are very pleased to begin to understand and work in this new and developing area”,
stated Adrian Banica, Chief Executive Officer of Synodon. “The monetizing of the positive
environmental impacts of our technology has been a part of our business plan, we look
forward to participating in this market place”.
“This is an excellent project for us, and another demonstration of thought leadership by
Synodon,” said Tangerine Tango Director, Tom Johnson. “We look forward to helping
Synodon add value to their company and to their value proposition though our unique
blend of market-based services.”
The Corporation also issued 600,000 incentive options (“Options”), to officers and
employees, to purchase common shares, exercisable at $0.205 per Option. The Options
have been issued pursuant to Synodon’s Share Option Plan and will vest on December 31,
Synodon Inc. (www.synodon.com)
is an Edmonton based technology company which has developed and demonstrated an
advanced airborne remote gas sensing system called realSensTM, 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.
Tangerine Tango (www.tangerine-tango.com)
is a Toronto based company which provides bespoke greenhouse gas and financial market
advisory services that enable businesses to optimize their opportunities around the
monetization of environmental attributes such as carbon offsets.
Tangerine Tango’s parent company, a private holding company and leading financial
solution provider focused on the low-carbon, water constrained, alternative energy and
SDTC finances and supports the development of clean technologies – solutions that address issues of climate change, air quality, soil remediation and water quality to deliver
environmental, economic and health benefits to Canadians. An arm’s length, not-for-profit
corporation created by the Government of Canada, SDTC fills the void in the innovation
chain between R&D and commercialization – helping clean technology developers move their products and solutions through the development and demonstration phases, in preparation for commercialization.