EnWave inks licensing agreement with Aurora Cannabis for its dehydration technology in Australia
Aurora will carry a master license for the use of EnWave's Radiant Energy Vacuum technology in the country
Company
CVE:ENW
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, the company has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.
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Aurora will carry a master license for the use of EnWave's Radiant Energy Vacuum technology in the country
The company's subsidiary NutraDried Food Company plans to install a third large-scale 120 kiloWatt Radiant Energy Vacuum
The plan was adopted to ensure all shareholders are treated “fairly and equally” in the event of a takeover bid or acquisition
Both parties plan to continue their strong collaboration and work towards increased commercial success that will support further investment in the Radiant Energy Vacuum drying capacity
Patatas Fritas Torres plans to use EnWave's Radiant Energy Vacuum to make a line of cheese snacks
The Irish company provides food producers with the space and technology to produce pilot-scale batches of food
The license is the second such deal for EnWave in Japan
Ashgrove licensed REV from EnWave in May 2017 to use the technology to process dried snack cheese products to distribute in Australia
EnWave had posted fiscal third-quarter results Thursday that showed revenue hit an all-time high
Glasshouse Botanics will lease a 10 kW REV machine for three months as the cultivator moves towards commercial production
The interim results showed revenue of $10 million, nearly 50% more than the $6.7 million the company saw a year earlier
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
A royalty pact will allow Electric Farms to use EnWave's proprietary Radiant Energy Vacuum technology to dry hemp at its facilities
Also on the move were Weekend Unlimited, Harvest One, Valens, EnWave and Charlotte's Web
New names, such as Valens GroWorks, Enwave, Sproutly and cbdMD, have been added to the Horizon Marijuana Life Sciences Index
Hardware & electrical equipment
Aurora is planning to purchase a third machine for its European operations in Denmark
EnWave is developing commercial applications for its dehydration technology in the cannabis, food and pharmaceutical industries.
EnWave reported 2Q revenue of C$8.8 million for the quarter ended March 31, 2019, a boost of C$4.6 million, compared to the same period a year ago
Aurora has exercised an option that will see the cannabis company use EnWave's proprietary Radiant Energy Vacuum (REV) dehydration technology for drying cannabis in South America