Telescope Innovations Joins MaRS: North America's Largest Urban Innovation Hub

Rhea-AI Summary

Telescope Innovations Corp. (CSE: TELI, OTCQB: TELIF), a developer of advanced pharmaceutical and chemical technologies, has joined the MaRS Discovery District, North America's largest urban innovation hub. MaRS supports member companies with advisory services, access to capital and talent, events, and workspace. MaRS companies have raised over CAD $19 billion in investments since 2010, with revenues surpassing CAD $11.5 billion.

Telescope's acceptance into MaRS comes as it advances the commercial deployment of its lithium refinement technology, ReCRFT™, which simplifies the production of battery-grade lithium carbonate from various sources, reducing manufacturing costs. The company aims to support the global transition to clean energy by addressing the growing demand for battery raw materials.

Positive

• Telescope Innovations has joined MaRS, North America's largest urban innovation hub, providing strong growth and networking opportunities.
• MaRS member companies have raised over CAD $19 billion since 2010, indicating robust financial backing and potential for funding.
• Telescope's ReCRFT™ technology reduces lithium processing steps, lowering production costs and potentially increasing profit margins.
• The company’s focus on battery-grade lithium carbonate aligns with the global clean energy transition, positioning it well for future market demands.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - June 24, 2024) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a developer of advanced technologies and services for the global pharmaceutical and chemical industries, has been accepted as a member of MaRS Discovery District, ("MaRS") a network of the most promising and innovative young technology companies in Canada.

As North America's largest urban innovation hub, MaRS empowers member companies to generate economic growth, technology adoption, and impact through advisory services, connections to capital and talent, events, and workspace. Relative to similar VC-backed ventures, MaRS member companies raise higher capital amounts, having secured over CAD $19B in cumulative investments since 2010 with revenues exceeding CAD $11.5B.

"We are thrilled to join the MaRS innovation ecosystem, particularly as we pursue the commercial deployment of our proprietary lithium refinement technology (ReCRFT™). Our unique process produces battery-grade lithium carbonate from brines, hardrock, or battery recycling streams in a single step," said Jeffrey Sherman, COO of Telescope.

Relative to incumbent technologies, the reduction in processing steps enabled by ReCRFT™ drives down manufacturing costs for lithium carbonate. "Our goal is to enable on-shore production of this critical mineral by reducing lithium processing costs," stated Dr. Ryan Jansonius, Telescope's VP of Chemistry Contract Services. "Ultimately, we aim to address the rapidly rising demand for battery raw materials, and support the global transition to clean energy. We believe our innovative approach and long-term goals align directly with MaRS, and look forward to engaging with this community under a shared vision."

About Telescope

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. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.

On behalf of the Board,

Telescope Innovations Corp.

Jeffrey Sherman, Chief Operating Officer
E: jeff@telescopeinn.com

Forward-Looking Information

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.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic; 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.

Forward-looking statements in this document include expectations surrounding the commercial deployment of Telescope's proprietary lithium refinement technology (ReCRFT™), the on-shoring of lithium carbonate production, the reduction of lithium processing costs, the ability to address rapidly rising demand for battery raw materials and support the global transition to clean energy, and all other statements that are not statements of historical fact.

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/213942

FAQ

What recent development has Telescope Innovations Corp. (TELIF) announced?

Telescope Innovations Corp. has announced its acceptance into the MaRS Discovery District, North America's largest urban innovation hub.

What impact will MaRS membership have on Telescope Innovations Corp. (TELIF)?

Membership in MaRS will provide Telescope Innovations with advisory services, access to capital and talent, and networking opportunities, potentially driving economic growth and technology adoption.

What is Telescope Innovations Corp.'s (TELIF) ReCRFT™ technology?

ReCRFT™ is a proprietary lithium refinement technology that simplifies the production of battery-grade lithium carbonate from various sources, reducing manufacturing costs.

How much capital have MaRS member companies raised since 2010?

MaRS member companies have raised over CAD $19 billion in cumulative investments since 2010.

What are the expected benefits of Telescope Innovations Corp.'s (TELIF) ReCRFT™ technology?

The ReCRFT™ technology is expected to reduce lithium processing costs, support the global transition to clean energy, and address the rising demand for battery raw materials.