Telescope Innovations Corp., a leading company in cutting-edge technologies for the pharmaceutical and chemical sectors, has received an initial funding of $400,273 from the B.C. Centre for Innovation and Clean Energy (CICE) to lead the pilot of its innovative Recrystallization Refinement Technology (ReCRFT™).
This advanced technology, which is based on standard manufacturing practices from the pharmaceutical industry, aims to produce battery-grade lithium carbonate from saltwater brines in a carbon-negative and cost-effective manner. With its features including continuous operation, high process yield, high impurity tolerance, and reduced reagent utilization, ReCRFT has the potential to reduce lithium refinery plant CapEx by 15-25% and OpEx by 25% compared to existing technologies.
Jason Hein, Telescope’s Chief Technology Officer, expressed gratitude for CICE’s support as they progress with the commercial deployment of ReCRFT, highlighting the lab pilot as the next phase in their research journey alongside Standard Lithium, Natural Resources Canada, and Canada’s Mining Innovation Commercialization Accelerator.
Sarah Goodman, CEO of CICE, praised Telescope for their innovation in lithium purification and stated that the company’s goals are in line with the global surge in demand for lithium in batteries. She emphasized the importance of supporting low-cost, high-impact solutions to meet and exceed market needs as the world moves towards net zero.
Telescope’s impressive advancements are driven by their ambitious approach to streamline the production of high purity lithium carbonate from low-grade brine concentrates. Their aim is to bring modern chemical technology solutions to address the most pressing challenges in health and sustainability through scalable manufacturing processes and tools for the pharmaceutical and chemical industry.
The non-dilutive investment from CICE reflects Telescope’s commitment to lead clean energy solutions and drive innovation to create sustainable economic prosperity. This funding illustrates their alignment with the climate-first community of innovators, industry leaders, academia, government, and Indigenous partners in urgency and efficiency.
The future-focused investment and joint efforts by Telescope and CICE have the potential to open new pathways to a net-zero future by leveraging British Columbia’s clean energy advantages to attract investment and create opportunities.
As with any forward-looking information, the success of this project depends on various factors, including economic conditions, the company’s access to capital, the successful execution of business strategies, and competition, among others. The Company also made forward-looking statements regarding the capacity of ReCRFT to reduce lithium refinery plant CapEx and OpEx, as well as the potential for advancement and successful deployment of the technology.
Telescope’s commitment to innovation and their partnership with CICE is a significant step towards a sustainable and environmentally friendly future for the pharmaceutical and chemical industries. This collaboration could pave the way for groundbreaking solutions that address the growing global demand for lithium while maintaining a low environmental footprint.
The importance of this collaboration and its potential impact on the renewable energy sector cannot be overstated and marks a positive step towards addressing climate change.