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Wednesday, 09/15/2021 10:11:13 AM

Wednesday, September 15, 2021 10:11:13 AM

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EnWave Signs Royalty-Bearing License with Fourth Australian Cannabis Company, Sells Third 10kW GMP REV(TM) Machine
GlobeNewswireSep 15, 2021 9:00 AM EDT
VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announces today that it has signed a royalty-bearing commercial license (the “License”) with a fourth Australia based cannabis company (“AusCo”). The License grants AusCo the right to use EnWave’s patented Radiant Energy Vacuum (“REV™”) technology for the production of cannabis products in Australia.

AusCo 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 facilitate AusCo to manufacture EU GMP grade medical cannabis products for export to Europe and other global export markets.

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 20% or greater and preserve equivalent or higher cannabinoids when compared to conventional rack or room drying methods. Bioburden is also effectively reduced when using select REV™ protocols. Drying times are shortened from multiple days to less than two hours. REV™ machinery is manufactured for GACP compliancy and GMP standards upon request – a key manufacturing competency of EnWave.

REV™ technology has been proven at scale in the food and cannabis industries. EnWave currently has 49 licensed partners and counting and has installed over 50 royalty-bearing REV™ machines globally.

Scitek Acquires 10kW REV™ Machine from Helius

EnWave’s exclusive channel partner representing REV™ technology in Australasia has agreed to purchase the 10kW non-GMP REV™ machine from Helius Therapeutics for the purposes of showcasing the technology’s capabilities to a plethora of new potential licensees in both the food and cannabis verticals. Scitek will install their 10kW machine close to Melbourne, Australia and make it available to any interested third-parties for testing and product development.

Concurrently with the transfer of machine ownership to Scitek, Helius and EnWave agreed to terminate their license agreement. Former Helius management purchased a non-GMP REV™ machine that is not compatible with their full GMP facility classification.