EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) said Wednesday that its board has approved a plan to license the company's unique radiant energy vacuum (REV) dehydration technology to the US cannabis market through a wholly-owned American subsidiary.
The technology is a rapid, low temperature drying method that maintains the product’s colour, flavour, and nutrients during the drying process. The company says it is faster and cheaper than freeze drying, with better product quality than air drying or spray drying.
The Vancouver-based company said it has further developed its patent-pending REV technology for “uniformly drying and decontaminating cannabis,” thereby shortening the lead time from harvest to market for cannabis products.
In a statement, the company said the US market presents a “significant” opportunity. EnWave said that with the help of US and Canadian counsels and the TSX Venture Exchange, it conducted legal and regulatory due diligence.
“This included assessments of cross-border issues and compliance with US federal laws, which concluded that EnWave may proceed with its expansion strategy into the US market,” the company said in a statement.
EnWave said it proprietary dehydration technology delivers “a distinct value proposition” to US cannabis and hemp producers, including “faster drying, higher precision and cost savings.”
“The company only plans to license its technology to companies that operate within legalized frameworks at state, municipal and other non-federal regulatory levels,” it added.
EnWave is developing commercial applications for its REV dehydration technology in the cannabis, food and pharmaceutical industries.
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