Vancouver, B.C., August 31, 2017
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") reports today the submission of a new patent application in the Patent Cooperation Treaty (“PCT”) international patent system. EnWave is driven to innovate and continuously commits resources to strengthen its intellectual property portfolio which is the cornerstone for the Company’s licensing-royalty business model. This patent application expands the application of EnWave’s Radiant Energy Vacuum (“REV™”) technology to the rapidly growing global medicinal and recreational cannabis market sector.
The newly filed patent application claims methods for very rapid and simultaneous pasteurization and drying of cannabis using REV™ technology.
Medicinal cannabis is often used by chronically ill or immunocompromised patients, causing several countries with medicinal cannabis programs to employ strict standards regulating microbial contamination of herbal cannabis products in order to reduce the potential for opportunistic lung infections. Ionizing radiation is currently the only method commonly employed to meet these medicinal cannabis microbial standards.
EnWave’s proven patent-pending technology uniformly dries and pasteurizes cannabis in under one hour to dramatically shorten the time from harvest to marketable products while circumventing the need to transport medicinal cannabis to highly-specialized and expensive off-site gamma irradiation facilities. EnWave’s continuous high-volume REV™ drying process also eliminates the need for large-scale in-house drying rooms and their associated potential for product loss due to mold growth during the traditional multi-day drying process. Automated REV™ drying processes for cannabis are highly efficient and scalable, reducing personnel requirements and increasing overall operational efficiency.
EnWave is well positioned to aggressively pursue market opportunities for its REV™ technology in cannabis drying and pasteurization. The Company’s suite of REV™ machine configurations and capabilities have proven to be effective for cannabis drying, which will allow for near-term commercialization without significant time and capital investment in research and development. The patent-pending methods expand the application of EnWave’s REV™ technology to the rapidly growing medical and recreational cannabis sector, and if successful, will provide protection for EnWave’s potential royalty stream until at least 2037.
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food and pharmaceutical sectors. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed twenty-three royalty-bearing licenses to date, opening up eight distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Partnership, NutraDried LLP, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.
EnWave has introduced REV™ 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™ platforms:
1. 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;
2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and
3. 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.
Dr. Tim Durance
President & CEO
For further information:
John Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, Senior Vice President, Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (604) 755-1348
Jeremy Hellman, Senior Associate, The Equity Group at +1 (212) 836-9626
Forward-Looking Information: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development and market position are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions, including those relating to the expectation of commercially successful integration of the EnWave technology to the dehydration of cannabis, the outcome of EnWave’s patent application, the ability of the Company to expand into the cannabis industry and successfully market its technology and patents, that the Company will be able to meet all applicable legal regulatory requirements in order to commercially exploit its patent, if and when its application is approved, or otherwise market its technology to cannabis industry participants, and other risks applicable to the Company as disclosed in its public filings. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. EnWave does not undertake to update its forward-looking information unless required by applicable securities law. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.