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Wednesday, 07/14/2021 10:24:05 AM

Wednesday, July 14, 2021 10:24:05 AM

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EnWave Signs Royalty-Bearing License with Second New Zealand Cannabis Company and Completes GMP REV(TM) Machine Sale
GlobeNewswireJul 14, 2021 9:00 AM EDT
VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announces that it has signed a non-exclusive royalty-bearing commercial license (the “License”) with a New Zealand cannabis company, Medical Kiwi Limited (“Medical Kiwi”). The License grants Medical Kiwi the right to use EnWave’s patented Radiant Energy Vacuum (“REV™”) technology for the production of cannabis products in New Zealand.

Medical Kiwi has purchased a 10kW REV™ machine that will be used to dry cannabis flower for use in medicinal products. This REV™ machine will be built to the standard of Good Manufacturing Practices (“GMP”) which will enable Medical Kiwi to export medicinal cannabis products to Europe and around the world.

EnWave’s REV™ technology offers a fast, gentle drying method that removes moisture homogenously from cannabis at selected low temperatures which are below the point of decarboxylation. When compared to incumbent drying methods, REV™ protocols can be customized to improve terpene retention in the order of 10% or greater, and preserve equivalent or higher cannabinoids when compared to conventional rack or room drying methods. Bioburden is also effectively eliminated when using select REV™ protocols. Drying times are reduced from multiple days to less than two hours. REV™ machinery are manufactured for GACP compliancy and GMP standards upon request – a key manufacturing competency of EnWave.

REV™ technology has been proven to create significant value at scale in the food and cannabis industries. EnWave has 44 licensed partners and more than 50 royalty-bearing REV™ machines in operation globally.

In Australia and New Zealand, EnWave partners are supported locally by EnWave’s exclusive distribution partner Scitek. Scitek has over 30 years of experience in the sale and service of GACP / GMP grade vacuum facilitating technologies including vacuum drying as used in EnWave’s REV™ technology.