viewEnWave Corp

EnWave expands scope of machine delivery to Aurora Cannabis

Aurora is planning to purchase a third machine for its European operations in Denmark

EnWave machine drying cannabis
EnWave is developing commercial applications for its dehydration technology in the cannabis, food and pharmaceutical industries

EnWave Corporation (CVE:ENW) announced Wednesday that Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) has expanded the scope of requirements to potentially purchase a third dehydration technology machine.

Vancouver-based EnWave is developing commercial applications for its proprietary Radiant Energy Vacuum (REV) dehydration technology, in the cannabis, food and pharmaceutical industries.

Aurora is planning to purchase a third machine for its European operations in Denmark. Its subsidiary, Aurora Nordic Cannabis, is planning to develop a pharmaceutical-level GMP facility, which according to Aurora requires several upgrades to the completed machinery.

READ: EnWave shares rise on news that Aurora will use its dehydration technology in South America

EnWave and Aurora signed a royalty-bearing license agreement in April 2019 that gives Aurora exclusive rights to REV for the production of cannabis materials in the European Union, excluding Portugal.

Aurora also has similar rights to REV for the South American market, with the exception of Peru. As part of the South American agreement, Aurora will hold the exclusive master license for the drying of cannabis using REV. Aurora will receive an undisclosed share of royalties from any cannabis product dried with REV technology by sub-licensees in South America.

According to EnWave, REV is faster and cheaper than freeze drying, with better product quality than air drying or spray drying.

Shares of EnWave slipped 6% on Wednesday morning at C$2.19.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: EnWave Corp

Price: 1.94 CAD

Market: TSX-V
Market Cap: $214.41 m

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