Anodyne Secures $1M Follow-On Investment from NorthX Climate Tech

Vancouver, BC | May 26, 2026 — Anodyne Chemistries Inc. has received a $1 million follow-on investment from NorthX Climate Tech to support development of its EZ Formate Pilot Plant in British Columbia. The investment builds on NorthX’s initial $600,000 commitment in 2023, bringing its total investment in Anodyne to $1.6 million.

NorthX’s first investment helped Anodyne move its bioelectric manufacturing technology from the lab to demonstrated industrial-grade processes. The follow-on funding supports the next step: validating the technology at scale through a modular pilot plant that produces low-carbon formates from captured CO₂.

“The chemical industry is under pressure to find cleaner, more stable alternatives to fossil-fuel-based production, and Anodyne Chemistries is showing that BC can lead that transition,” said Adrian Dix, Minister of Energy and Climate Solutions. “NorthX’s investment in the EZ Formate Pilot Plant backs world-leading technology that turns CO₂ into valuable industrial chemicals, delivering both environmental and economic returns for the province.”

Toward commercial-scale formate production

The EZ Formate Pilot Plant is the foundation for Anodyne’s first commercial-scale facility, which targets 10,000 tonnes per year of formate production. Formates are used in agriculture, construction, drilling and de-icing, markets that today rely on fossil-derived feedstocks.

Anodyne projects that its process can reduce lifecycle emissions by more than 99 percent compared with conventional production. At commercial scale, the company estimates it could avoid up to 5.4 million tonnes of CO₂e each year and generate more than $100 million in revenue.

“The chemical industry underpins modern life, but it’s still built on fossil inputs,” said Sarah Goodman, President and CEO of NorthX Climate Tech. “Anodyne is rethinking those inputs, using captured CO₂ and low carbon electricity to produce chemicals more cleanly, without toxic byproducts. We backed them early and have seen strong technical and commercial traction, and we’re proud to support this next phase as they demonstrate performance at industrial scale and help establish a new model for low carbon manufacturing.”

“NorthX’s early support allowed us to move quickly from initial development into building and testing our process at a commercial scale,” said Iain Evans, Chief Executive Officer of Anodyne. “Since then, we’ve grown our team, secured customers, and advanced the bioelectric manufacturing platform. This pilot is the critical step in demonstrating that our platform can deliver the cost and supply certainty needed by the world’s largest manufacturing systems. We’re grateful for NorthX’s continued support as we move into this next phase.”

Update, August 2026: The EZ Formate Pilot Plant was installed in Delta, BC, in July 2026. Read more here.

About Anodyne Chemistries

Anodyne Chemistries Inc. is a Burnaby, British Columbia company, founded in 2021, that makes low-carbon chemicals from CO₂, water and renewable electricity. Its Anozyme® bioelectric manufacturing platform pairs electrochemistry with proprietary immobilized enzymes and metal catalysts in a fully aqueous process, producing formate salts, formic acid, hydrogen peroxide and specialty aldehydes and alcohols. Anodyne installed its first industrial-scale pilot plant in Delta, BC, in 2026. Learn more at anodynechemistries.com.

Forward-looking statements: This release contains forward-looking statements regarding emissions reductions, production capacity, revenue and commercialization. Actual results may differ materially.