Telescope Announces Engagement with Natural Resources Canada to Develop Lithium Refinement Technology
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2022) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a leading developer of advanced technologies and services for the global pharmaceutical and chemical industries, announces that it has been contracted by Natural Resources Canada ("NRCan") to help develop a critical lithium refinement technology. Over 16 months, Telescope will collaborate with NRCan to build an autonomous, self-driving experimental platform. The goal of this platform is to boost the efficiency of lithium extraction, purification, and crystallization from lithium-containing brines, including effluent streams from battery recycling facilities.
This project reinforces Telescope's position as a trusted partner-of-choice to resolve bottlenecks and inefficiencies in chemical manufacturing. While lithium brine extraction and refinement processes do exist, their complexity incurs high CAPEX and OPEX barriers to deployment. Telescope's unique automation and analytic technology has the potential to address this challenge by increasing the efficiency of lithium carbonate production from brines. In this way, the Company aims to contribute to national decarbonization and electrification efforts.
"We are pleased to see the government's recognition of Telescope as a valuable research and development partner," commented Jason Hein, Telescope CEO. "We look forward to supporting Canada's critical mineral strategy by applying our unique technology to address increasing demands for battery materials."
"In the global transition to clean energy, Canada's critical mineral wealth is our great advantage. That's why the Government of Canada is partnering with innovators across Canada, like Telescope Innovations, to unlock this advantage. The autonomous, self-driving platform pioneered through this partnership will serve to make lithium extraction, purification and crystallization more efficient and help advance the achievement of our climate goals," said the Honourable Jonathan Wilkinson, Minister of Natural Resources Canada, Government of Canada.
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Telescope also applies these toolsets to resolve inefficiencies in industrial process chemistry and manufacturing. Our aim is to bring modern chemical solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Jason Hein, Chief Executive Officer
Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of the prospectus filed by the Company and available at www.sedar.com.
Forward-looking statements in this document include expectations surrounding the uses and viability of the intellectual property portfolio held by the Company, the ability of the Company to deploy its automation, in-situ analytical tools, and machine learning technology to execute the project with NRCan, the outcome of the project, and all other statements that are not statements of historical fact.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic, including the risk that the Company be deemed a non-essential business and asked to temporarily cease operations; general economic conditions; adverse industry events; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141518