EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) reports today that Aurora Cannabis Inc. (“Aurora”) (TSX:ACB.TO) (NYSE:ACB), is expanding the scope of requirements for its potential purchase of a third 120kW Radiant Energy Vacuum (“REV(TM)”) machine targeted for its European operations in Denmark. Aurora Nordic Cannabis, a subsidiary of Aurora, plans to develop a pharmaceutical-level GMP facility, which requires several upgrades to the contemplated machinery. These upgrades will be confirmed as soon as possible and will also increase the economic profile of this prospective equipment purchase.
On April 26, 2019, EnWave and Aurora announced that the companies had entered into a royalty-bearing commercial license agreement with sub-licensing rights, providing Aurora with the exclusive rights to EnWave’s patented REV(TM) drying technology for the production of cannabis materials in the European Union, excluding Portugal (the “European License”).
Aurora intends to pursue widespread adoption of the REV(TM) technology throughout its global operations to capture the significant advantages of EnWave’s drying technology when compared to traditional drying methods.
Benefits of REV(TM) Technology in the Cannabis Industry
EnWave’s patented REV(TM) technology is a rapid, low temperature, continuous drying method that maintains optimal terpene levels, flavour, as well as other product attributes during the drying process. The company’s vacuum-microwave technology enables fast, uniform drying with flexible final moisture content; capabilities that are unattainable with freeze drying or air drying.
In the cannabis industry, REV(TM) technology provides for capital expenditure savings on drying space (smaller footprint) and related HVAC investments, as well as the ability to free up space, which can be repurposed to increase the economic output of each facility. Furthermore, EnWave’s REV(TM) technology reduces drying time from 5-7 days to less than two hours, resulting in significant working capital savings and speed to market of product. The technology has certain additional benefits, including the support of industrial scale flow-though, accelerating the ability for large-scale processing of cannabis and CBD-rich biomass into intermediate or finished product.
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV(TM)”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV(TM) technology, shortening the time from harvest to marketable cannabis products.
REV(TM) technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV(TM) technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Corporation, NutraDried Food Company, LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese brand.
EnWave has introduced REV(TM) as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV(TM) platforms:
— nutraREV which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;
— powderREV which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
— quantaREV which is used for continuous, high-volume low-temperature drying.
An additional platform, freezeREV, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
Dan Henriques, CPA, Chief Financial Officer at +1 (604) 835-5212
Deborah Honig, Corporate Development at + 1 (647) 203-8793
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