EnWave Signs Technology Evaluation and License Option Agreement with a Top Canadian Cannabis Producer, Granting an Exclusive Option to use Radiant Energy Vacuum Technology in a European Country
Vancouver, B.C., April 20, 2018
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company" - https://www.youtube.com/watch?v=AyKTfx_H0Tk&t=60s ) announced today that the Company has signed a Technology Evaluation and License Option Agreement (“TELOA”) with one of Canada’s largest licensed cannabis producers (the “LP”) to enable the LP to evaluate EnWave’s patented Radiant Energy Vacuum (“REV™”) technology for rapid decontamination and dehydration of cannabis.
Under the terms of the TELOA, EnWave has granted the LP a six-month term to evaluate and refine processes using REV™ for cannabis decontamination and dehydration, and an exclusive option to license REV™ for processing cannabis in a country in Europe. The LP will rent a pilot-scale REV™ machine during the term of the TELOA to facilitate the evaluation of EnWave’s technology. All other terms of the TELOA are confidential.
The TELOA extends EnWave’s continued success in pursuing additional opportunities to serve the rapidly growing global medical and recreational cannabis market.
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. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ 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™ 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 Company, 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™ 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 P.A. Budreski, Executive Chairman at +1 (416) 930-0914
Brent Charleton, CFA, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
Deborah Honig, Corporate Development, Adelaide Capital Markets at + 1 (604) 755-1348
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