EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) is gaining further business traction by striking royalty-bearing licensing and equipment lease agreements with an undisclosed Swiss cannabidiol (CBD) company.
The licenses, which are the Vancouver tech company’s first foray into Europe’s burgeoning hemp market, will allow the Swiss company to process medical-grade hemp for CBD extraction using EnWave’s Radiant Energy Vacuum (REV).
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REV is EnWave’s flagship tech created for the dehydration of organic materials. The company has also developed methods for drying and decontaminating cannabis via the use of REV tech, which shorten the period from harvesting to marketing for cannabis products.
Per the terms of the new partnership, the Swiss company will pay EnWave a quarterly royalty based on the number of dried cannabis grams produced in the REV machinery.
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