Edmonton, Alberta CANADA, May 07, 2012 /FSC/ - Synodon Inc (SYD - TSX Venture)("Synodon"), announces that TECTERRA Inc. has committed an investment of up to $220,000 for the next generation development of the realSensTM technology.
The funded improvements to the realSensTM technology are closely based on the recently issued United States patent which Synodon announced on February 21, 2012 and revolve around developing new data analysis methods that use surface reflectivity profiles to improve the accuracy of Gas Filter Correlation Radiometer (GFCR) measurements. By using this method in its current realSensTM GFCR implementation, Synodon estimates that it can improve the gas detection sensitivity by a factor of up to 10 times.
Adrian Banica, Synodon President and CEO said, "We are very pleased with the investment that TECTERRA is providing to Synodon, as it allows our science team to advance the capabilities of our realSensTM technology towards even better gas detection sensitivity. This not only can provide our current customer base with better information about their operational emissions but it can also lead to brand new market applications."
The funding from TECTERRA is progress payment based and is received upon submission of eligible project costs and quarterly progress reports. The funding is 100% repayable, interest free and based completely on the commercial success of the funded project. The project will begin immediately and is scheduled to be complete in March 2013.
Synodon Inc. (www.synodon.com) is a technology company which has developed an advanced airborne remote gas sensing system called realSensTM, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company provides a full service gas emissions monitoring and quantification service to a variety of industries, including hydrocarbon (oil and gas), environmental and agricultural, and for a variety of gases including methane, ethane and ammonia.
TECTERRA Inc. is a national organization supporting the Canadian development and commercialization of geomatics technologies with a focus on integrated resource management. With current funding from the Province of Alberta and Government of Canada, TECTERRA invests in technology solutions for energy, forestry, agriculture, environment, and land management, location based services and other applications. The first centre of its kind, TECTERRA works with industry, entrepreneurs, researchers, and government partners to enable the use of geomatics technologies in addressing local, national and global challenges. TECTERRA, a non-profit organization, is governed by an independent Board of Directors representing key industry sectors associated with TECTERRA's focus markets. For more information, visit www.tecterra.com.
For more information, please contact:
Synodon Inc.
TECTERRA
Adrian Banica Andrew Exner
President & CEO Director of Commercialization Programs
Tel: 780.468.9568 Tel: 403.930.1374
Email: investors@synodon.com Email: aexner@tecterra.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 "Risks Relating to the Business", specifically in the "Additional Financing" section, 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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/synodon05072012.htm
Source: Synodon Inc (SYD TSX-V)
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