Telescope Launches Strategic Division for Industrial Chemical Manufacturing and Announces First Client
Vancouver, BC — March 14, 2022 — Telescope Innovations Corp. (“Telescope” or the “Company”) (CSE: TELI), a chemical technology company, announces the creation of “Telescope Industries”, a branch of the Company dedicated to resolving process and manufacturing inefficiencies in the chemical industry. For its first project, Telescope Industries has been engaged by Hatch Ltd. (“Hatch”), a global engineering, project management, and professional services firm. Hatch has contracted Telescope to perform a series of physical chemistry studies leveraging Telescope’s unique analytical toolsets.
“The service we are providing for Hatch addresses a notorious bottleneck in chemical development and manufacturing pipelines,” explained Jason Hein, Telescope CEO. “Very few tools exist to fully map out the behavior of dynamic chemical systems like this, even though the data is indispensable for development and optimization. We are excited to bring Telescope’s process analytical technology and expertise to meet this challenge, and we are pleased to see the growing industrial interest in Telescope’s capabilities.”
Beyond short-term revenue generation, this first contract and the establishment of Telescope Industries represent strategic advancements towards the Company’s long-term goals. Specifically, these steps will position the Company as an industrially trusted partner-of-choice to resolve previously intractable challenges in the chemical sector.
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. A key area of application for these tools is the development of scalable manufacturing processes for mental health medicines in the under-utilized tryptamine class of compounds, including psychedelic therapeutics. 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.
About Hatch
Whatever our clients envision, our teams can design and build. With over six decades of business and technical experience in the mining, energy, and infrastructure sectors, we know your business and understand that your challenges are changing rapidly. We respond quickly with solutions that are smarter, more efficient and innovative. We draw upon our 9,000 staff with experience in over 150 countries to challenge the status quo and create positive change for our clients, our employees, and the communities we serve.
Find out more on www.hatch.com.
On behalf of the Board,
Telescope Innovations Corp.
Jason Hein, Chief Executive Officer
Forward-Looking Information
Forward-looking information is necessarily 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 potential development of an ongoing consulting relationship with Hatch and the operation of a business division focused on the resolution of process inefficiencies in the chemical industry, 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 success of preliminary project work conducted with Hatch; 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.
These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. 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.