The channel is best known for shows such as Warehouse 13 and Ghost Hunters as well as airing cult series' like Battlestar Galactica.
Syfy, a part of parent group NBC Universal, announced yesterday that it will begin releasing up to two films a year under the name Syfy Films.
"First and foremost we're looking for new projects," channel president Dave Howe told Yahoo News, before confirming that Syfy won't be involved in the recently announced Battlestar Galactica film.
The channel will produce the new project on budgets of between $5 million and $25 million dollars while Universal will handle the distribution of the films.
Syfy Films will launch its first project sometime in 2012.