Under the terms of the Agreement, SCS, in collaboration with Schibano, will conduct a comprehensive evaluation of EnWave’s proprietary Radiant Energy Vacuum (“REV”) dehydration technology for potential application across a range of cannabinoid and botanical products. Upon successful completion of the evaluation program, SCS will have the option to enter into a commercial license agreement granting certain rights to deploy REV technology within agreed-upon markets and applications.

The Agreement follows a series of recent commercial-scale evaluations of REV technology that demonstrated the ability to accelerate drying timelines while maintaining key product quality characteristics. Independent testing conducted across multiple cannabis cultivars showed no statistically significant differences in sensory quality compared to conventionally dried control samples, no meaningful impact on cannabinoid potency, no material change in total yeast and mold counts, and generally stable terpene profiles. The evaluations also demonstrated the potential to reduce overall drying time by approximately two to five days, creating opportunities for increased production throughput and reduced dry-room occupancy.

SCS is collaborating with Schibano on the evaluation program. SCS operates an advanced indoor cannabis cultivation facility and focuses on the production of high quality medical cannabis under ecological standards and GACP compliant practices. Schibano operates a vertically integrated “Seed-to-Pharma” platform encompassing genetics development, cultivation, extraction, active pharmaceutical ingredient manufacturing and finished product production. It maintains pharmaceutical-quality manufacturing standards and serves customers across international markets. Together, the companies bring complementary expertise spanning cannabis cultivation, pharmaceutical development and cannabinoid product manufacturing.

The evaluation will focus on assessing REV technology’s ability to process cannabinoid and botanical materials efficiently while preserving critical quality attributes and meeting the operational and regulatory requirements of SCS and Schibano. Evaluation activities are expected to commence in the coming months.

About Swiss Cannabis Selection AG

SCS Swiss Cannabis Selection AG is a Switzerland based medical cannabis company specializing in the cultivation, development and production of cannabis and cannabis products for medical purposes. The company operates an advanced indoor cultivation facility in the St. Gallen Rhine Valley and produces high quality Swiss cannabis under ecological standards and GACP compliant practices. Through its cultivation expertise and focus on quality, SCS supports the development of cannabis products for medicinal and regulated markets. SCS’s advanced cultivation capabilities and commitment to producing high quality medical cannabis position the company among the emerging innovators helping shape Switzerland’s rapidly evolving medical cannabis sector. For more information on SCS, please visit https://cannabis-selection.ch/.

About Schibano Pharma AG

Schibano Pharma AG is a Switzerland-based life sciences and phytopharmaceutical company specializing in cannabinoid-derived active pharmaceutical ingredients, medicinal products and medical wellness solutions. Through its proprietary “Seed-to-Pharma” platform, the company integrates research and development, genetics, cultivation, pharmaceutical manufacturing and regulatory expertise to deliver high-quality cannabinoid products to pharmaceutical, clinical and commercial markets. Schibano Pharma’s GMP-certified operations and longstanding focus on cannabinoid innovation position the company among the early pioneers in the development of pharmaceutical-grade cannabinoid solutions in Europe. For more information on Schibano, please visit https://schibano-swiss-pharma.com/en/.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Technology Evaluation and License Option Agreement with Swiss Cannabis Selection AG, Announces Significant Evaluation Results appeared first on EnWave.

All values in thousands and denoted in CAD unless otherwise stated.

• Reported revenue for Q2 2026 of $1,159, representing a decrease of $2,530 relative to the comparable period in the prior year. The decrease was primarily related to fewer machine sales and machines in fabrication due to the inherent volatility in large-scale Radiant Energy Vacuum (“REV”) machine orders.
• Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q2 2026 of $434, a decrease of $40, or 8% relative to the comparable period in the prior year.  Reported total royalty revenue for Q2 2026 of $465, a decrease of $9 or 2% relative to total royalty revenue in the comparable period in the prior year. Royalties decreased due to lower product sales and partner production for the quarter. The Company expects royalty revenue growth in future periods as a few partners have communicated inventory builds in anticipation of increased commercial sales activity and expanded product distribution in upcoming quarters.
• Gross margin for the three months ended Q2 2026 was 35% compared to 33% for the three months ended Q2 2025. The increase in margin was primarily attributable to lower fabrication costs from large-scale machines on contract, as compared to the prior quarter.
• Reported an increase in Selling, General & Administrative (“SG&A”) costs (including Research & Development (“R&D”)) of $78 for Q2 2026 relative to the comparable period in the prior year, with the increase primarily related to more sales personnel, the timing of patent maintenance fees and professional fees.
• Reported an Adjusted EBITDA⁽¹⁾ loss of $775 for Q2 2026, a decrease of $887 from the comparable period in the prior year.

Consolidated Financial Performance:

Note: ⁽¹⁾ Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent.

EnWave’s consolidated interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net

Key Financial Highlights for the Six Months Ended March 31, 2026 (expressed in 000’s)

• Reported revenue of $2,759, a decrease of $2,107 relative to the comparable period in the prior year. The decrease was primarily related to fewer machine sales. 
• Reported Base Royalties of $934, an increase of $35 or 4% relative to the comparative period in the prior year. Reported total royalty revenues of $1,092, an increase of $59 or 5% relative to the comparative period in the prior year. Royalties grew due to increased royalty partners, product sales, partner production, and exclusivity payments.
• Reported an increase in SG&A costs of $278 for the six months ending March 31, 2026, relative to the comparable period in the prior year, with the increase primarily related to more sales personnel, patent maintenance fees, and recruitment fees. In the comparative period, legal costs associated with the Term Loan and Credit Facility were capitalized as part of the transaction.
• Reported an Adjusted EBITDA⁽¹⁾ loss of $1,360 for the six months ended March 31, 2026, a decrease of $837 from the comparable period in the prior year.

Significant Corporate Accomplishments in Q2 2026 and Subsequently:

• Signed a Technology Evaluation and License Option Agreement with one of the world’s largest multinational food companies. 
• Signed a Commercial Licence Agreement (“CLA”) and Equipment Purchase Agreement (“EPA”) for a 10kW REV^TM machine  with The Dry Hub (“DryHub”), an Egyptian food processing Company.
• Signed a Research and Development License Agreement (“RDLA”) with Rhizome Food and Farming LLC (“Rhizome”), a North American food Company led by renowned chef Dan Barber. Rhizome acquired a 3.6kW REV^TM machine for commercial and product development.
• Signed a RDLA and EPA for a 10kW REV^TM machine with Teagasc, the Agriculture and Food Development Authority of Ireland.
• Signed a CLA with Gowen Gumlu Grower’s Association (“BGGA”) in North Queensland, Australia. BGGA acquired a 10kW REV machine from EnWave’s Australian third-party machine re-seller, Scitek.

Non-IFRS Financial Measures:

This news release refers to Adjusted EBITDA which is a non-IFRS financial measure. We define Adjusted EBITDA as earnings before deducting amortization and depreciation, stock-based compensation, foreign exchange gain or loss, finance expense or income, income tax expense or recovery, non-recurring income and expenses,  restructuring and severance charges, and discontinued operations. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the reconciliation between Adjusted EBITDA and the most comparable IFRS financial measure reported in the Company’s consolidated interim financial statements.

Non-IFRS financial measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to EnWave’s management. Accordingly, these non-IFRS financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more information, please refer to the Non-IFRS Financial Measures section in the Company’s MD&A available on SEDAR+ www.sedarplus.ca.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave 2026 Second Quarter Consolidated Interim Financial Results appeared first on EnWave.

Under the terms of the Agreement, the Partner will conduct a commercial-scale evaluation of EnWave’s proprietary Radiant Energy Vacuum (“REV”) dehydration technology for potential application across multiple food categories within the Partner’s extensive global product portfolio. Subject to successful completion of the evaluation program, the Agreement provides the Partner with the option to negotiate one or more commercial royalty-bearing licenses for the use of REV technology.

The Partner is a global leader in branded consumer foods with annual revenues exceeding US$20 billion and operations spanning retail grocery, snack foods, breakfast cereals, frozen foods, convenience meals, and ingredient solutions. The Partner distributes products in more than 100 countries and maintains a portfolio of internationally recognized household brands.

This Agreement represents another meaningful validation of REV technology by a highly sophisticated multinational food manufacturer. Global consumer packaged food companies continue to seek differentiated manufacturing technologies that can improve product quality, optimize operational efficiency, and support innovation across large-scale product platforms.

The evaluation program will focus on assessing REV’s ability to preserve flavor, texture, color, and nutritional characteristics while reducing drying times compared to conventional dehydration methods. The Partner is also expected to evaluate REV’s potential to support premium product innovation and manufacturing efficiencies across select high-volume product categories.

EnWave believes the Agreement further demonstrates growing interest in REV technology from multinational food manufacturers seeking advanced processing solutions capable of supporting evolving consumer preferences for premium, minimally processed, and high-quality shelf-stable products.

The Company expects the evaluation work to commence over the coming months at the Partner’s facilities and at EnWave’s innovation center in Vancouver, Canada.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Technology Evaluation and License Option Agreement with Leading Global Packaged Food Company appeared first on EnWave.

The Company has scheduled a conference call to discuss the results for Q2 2026 and business outlook on Friday, May 22, 2026 at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time). Brent Charleton, Chief Executive Officer and Dylan Murray, Chief Financial Officer will present EnWave’s results and host a question and answer period.

Conference Call Details:

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information concerning the completion of the Offering, the use of proceeds of the Offering, the approval of the TSXV, the growth of the Company’s production capacity and the effects thereof, and the management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing or statements that include words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words are forward-looking statements. These statements are based on the current opinions and expectations of management and are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and disclaims any obligation, except as required by applicable laws, to update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave to Report Second Quarter Financial Results on May 21, 2026 and Host Investor Conference Call appeared first on EnWave.

Under the terms of the License, DryHub will acquire a 10kW REV machine to initiate commercial production at its facility in Egypt. Under the License terms, DryHub will hold an exclusive right to use EnWave’s patented REV technology to dry select fruits, vegetables, and herb products in the country of Egypt. DryHub will pay a royalty commensurate with certain other existing licenses granted by EnWave, and the Company intends to continue working closely with DryHub to ensure optimal product development success. Pursuant to the License, DryHub must purchase additional REV equipment within 18 months of the commissioning date of the 10kW REV machine and remit minimum royalty requirements to keep their exclusive rights.

About The DryHub

The Dry Hub is an Egypt-based food processing company specializing in premium dried food products for retail and industrial applications. By combining advanced drying technologies, including REV, with strong local sourcing, the company produces high-quality, export-ready products for both B2C and B2B markets.

The initial 10kW REV unit represents the first phase of The Dry Hub’s planned capacity expansion, supporting its strategy to scale production and serve both B2C and B2B markets.

Amr El Menoufi, Chairman and Chief Executive Officer of The DryHub, commented:

“This agreement marks a key milestone in our strategy to build a scalable, technology-driven drying platform in Egypt and the wider region. Through our partnership with EnWave, we are introducing advanced vacuum microwave drying capabilities that enable the production of high-quality, value-added products for both consumer and industrial markets, while laying the foundation for a next-generation dehydration platform that redefines product quality and value creation in the region.

The initial 10kW unit represents the first phase of our capacity build-out, with further expansion planned in line with our long-term growth strategy.”

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Commercial License Agreement with The Dry Hub to Establish REV™ Drying Operations in Egypt appeared first on EnWave.

Pursuant to the RDLA requirements, Rhizome has purchased the 3.6kW REV machine for continued commercial product development. The RDLA grants broad rights to use EnWave’s REV technology for research and development activities, including collaboration with third‑party food and agriculture companies regarding product and process development, as well as the production of limited volumes of commercial product for market trials.

By entering into the RDLA, Rhizome joins EnWave’s existing network of research and development partners, which includes institutions such as Cornell University, the Danish Technological Institute, QUT of Australia and CNTA in Spain. Each of these partners have acquired REV equipment to support collaboration with EnWave, leveraging the Company’s expertise and best practices to solve specific product‑application challenges and accelerate innovation using vacuum‑microwave dehydration technology. If Rhizome elects to scale successful concepts through its own dedicated manufacturing infrastructure, EnWave and Rhizome would expect to negotiate a full commercial license that reflects appropriate royalty‑bearing terms.

Rhizome intends to use REV technology as a core tool within its culinary and agricultural research ecosystem to explore “moonshot” ideas in shelf stability, nutrient density and flavor, while de-risking future commercialization opportunities. This work will leverage their extensive network of chefs, scientists and industry collaborators. 

About Rhizome

In 2025, Stone Barns and Blue Hill launched Rhizome Food and Farming LLC, a research and incubation company that conducts applied food-systems research to improve human and environmental health while giving equal weight to flavor. Rhizome combines Stone Barns’ expertise in regenerative agriculture and Blue Hill’s culinary innovation with the scientific capabilities of an external network of collaborators and researchers.

Rhizome’s R&D follows an iterative cycle of field evaluation, culinary testing, and nutritional analysis. This work generates two types of outputs: open-source research shared through media and academic publications, implementation support for industry, and commercial offerings such as products, licensed intellectual property, and consulting services.

Learn more at www.rhizome.food.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Research and Development License Agreement with Rhizome Food and Farming LLC, a Food Innovation Company Led by Michelin-Starred Chef Dan Barber appeared first on EnWave.

The license grants R&D rights to Teagasc to use EnWave’s proprietary Radiant Energy Vacuum (“REV”) dehydration technology in collaboration with its current and future clients and industry and research partners. The Equipment Purchase made by Teagasc is for a 10kW REV machine that will showcase their state-of-the-art facility with the value proposition of REV technology. The 10kW REV machine is expected to be delivered to Teagasc before the summer of 2026.

About Teagasc – the Agricultural and Food Development Authority of Ireland

Teagasc (Irish pronunciation: [ˈtʲaɡəsˠk], meaning “Instruction”) is the national authority in Ireland responsible for research and development, training and advisory services in the agri-food sector. The official title of the body is Teagasc – the Agriculture and Food Development Authority. The authority has several county advisory centres, colleges and research centres in which it carries out its main business. Teagasc has recently been awarded funding by the Department of Agriculture, Food and the Marine, that will support the delivery of a new project titled AIMBIO – All Island Marine Bio‑based Refineries for Circular Blue‑Bioeconomy. The project is coordinated by Teagasc and brings together a strong all‑island partnership of academic, research, and industry stakeholders. AIMBIO will demonstrate how side‑streams from Ireland’s marine and aquatic sectors, including aquaculture and seafood processing, can be transformed into high‑value ingredients for sectors such as food, feed, cosmetics, and chemicals. Teagasc will employ the new REV dryer to support the project by enabling rapid, energy‑efficient drying of marine and aquaculture side‑streams prior to further processing. REV dehydration technology will allow the team to generate consistent, scalable dried fractions for downstream extraction, formulation, and product development, strengthening the project’s ability to demonstrate industry‑relevant bioprocessing solutions.

Learn more at https://aim-bio.ie/ & Home – Teagasc | Agriculture and Food Development Authority.

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs License Agreement, and Equipment Purchase Agreement with Teagasc, the Agricultural and Food Development Authority of Ireland appeared first on EnWave.

All values in thousands and denoted in CAD unless otherwise stated.

• Reported revenue for Q1 2026 of $1,600, representing an increase of $423 relative to the comparable period in the prior year due to large-scale machine sales and increased royalties. During the period, the company commissioned one large-scale machine and completed the fabrication of two large-scale machines on contract.  
• Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q1 2026 of $500, an increase of $75, or 18% relative to the comparable period in the prior year.  Reported total royalty revenue for Q1 2026 of $627, an increase of $68 or 12% relative to total royalty revenue in the comparable period in the prior year. Royalties grew due to increased royalty partners, product sales, partner production, and exclusivity payments for the quarter.
• Gross margin for the three months ended Q1 2026 was 37% compared to 29% for the three months ended Q1 2025. The increase in margin was a result of higher royalties and the production mix of large machines at various stages of commissioning and fabrication.
• Reported an increase in Selling, General & Administrative (“SG&A”) costs (including Research & Development (“R&D”) of $200 for Q1 2026 relative to the comparable period in the prior year, with the increase primarily related to more sales personnel, the timing of patent maintenance fees and professional fees. In the comparative period, legal costs associated with the Term Loan and Credit Facility were capitalized as part of the transaction.
• Reported an Adjusted EBITDA⁽¹⁾ loss of $585 for Q1 2026, an improvement of $50 from the comparable period in the prior year.

Consolidated Financial Performance:

⁽¹⁾ Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent.

EnWave’s consolidated interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net

Significant Corporate Accomplishments in Q1 2026 and Subsequently:

• Signed a CLA with Gowen Gumlu Grower’s Association (“BGGA”) in North Queensland, Australia. BGGA acquired a 10kW REV machine from EnWave’s Australian third-party machine re-seller, Scitek.
• Signed a CLA with Shinyway International Limited, a service provider of cannabis processing based in New Zealand.
• Signed a CLA with a U.S. snack company and an equipment purchase agreement for a 10kW REV machine.

Non-IFRS Financial Measures:

This news release refers to Adjusted EBITDA which is a non-IFRS financial measure. We define Adjusted EBITDA as earnings before deducting amortization and depreciation, stock-based compensation, foreign exchange gain or loss, finance expense or income, income tax expense or recovery, non-recurring income and expenses,  restructuring and severance charges, and discontinued operations. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the reconciliation between Adjusted EBITDA and the most comparable IFRS financial measure reported in the Company’s consolidated interim financial statements.

Non-IFRS financial measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to EnWave’s management. Accordingly, these non-IFRS financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more information, please refer to the Non-IFRS Financial Measures section in the Company’s MD&A available on SEDAR+ www.sedarplus.ca

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Reports 2026 First Quarter Consolidated Interim Financial Results appeared first on EnWave.

The Company has scheduled a conference call to discuss the results for Q1 2026 and business outlook on Friday, February 20, 2026 at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time). Brent Charleton, Chief Executive Officer and Dylan Murray, Chief Financial Officer will present EnWave’s results and host a question and answer period.

Conference Call Details:

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net.

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information concerning the completion of the Offering, the use of proceeds of the Offering, the approval of the TSXV, the growth of the Company’s production capacity and the effects thereof, and the management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing or statements that include words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words are forward-looking statements. These statements are based on the current opinions and expectations of management and are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and disclaims any obligation, except as required by applicable laws, to update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave to Report First Quarter Financial Results on February 19, 2026 and Host Investor Conference Call appeared first on EnWave.

In addition to signing the License, BGGA has acquired a 10kW REV machine from EnWave’s Australian third-party machine re-seller, Scitek, to begin commercial product development and early-stage manufacturing of REV-dried products. This REV equipment is expected to be commissioned before April 2026.  EnWave’s technical and food science teams will work closely with BGGA to ensure premium product quality and process optimization in preparation for the launch of commercial products by their membership base.

Given the breadth of BGGA’s member base and the product volumes produced each year, there is high potential for additional REV equipment sales to BGGA as they advance commercialization.

About Bowen Gumlu Grower’s Association

Bowen Gumlu Growers Association (BGGA) is a regional industry body that represents the interests of its members, horticultural growers, producers and associated agribusinesses in North Queensland.  BGGA’s key activities include member services, advocacy, workforce and industry development and the delivery of projects focused on improving on-farm practices, commercial outcomes for farming businesses and the prosperity of out regional community.

The region is the largest producer of winter vegetable crops in Queensland generating farm gate production worth approximately $650M AUD per annum.  Key commodities produced include tomato, capsicum, mangoes, cucurbits, beans and corn. The region’s growers employ approximately 1,500 workers throughout the year with an additional 2,000 workers during the harvest season. One in every five workers living in the region are supported by the sector.  The region’s products feed Australia and are exported to more than a dozen countries currently.

For more information about BGGA, please visit https://www.bgga.com.au. 

About EnWave

EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave 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.

With more than fifty partners spanning twenty-four countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.

EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.

Learn more at EnWave.net

EnWave Corporation

Mr. Brent Charleton, CFA

President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net      

Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: dmurray@enwave.net  

Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The post EnWave Signs Royalty-Bearing License with Bowen Gumlu Grower’s Association of Australia appeared first on EnWave.