EnWave Signs Equipment Purchase Agreement with GEA Lyophil GmbH and advances Joint Pharmaceutical Technology Development
NOVEMBER 13, 2020 | 6:00 AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”), announced today that it has signed an Equipment Purchase Agreement (the “Agreement”) with GEA Lyophil GmbH (“GEA”) to deliver a lab-scale Radiant Energy Vacuum (“REV™”) machine for the demonstration and development of REV™ technology for pharmaceutical applications.
GEA will use the equipment to advance the commercialization of the technology for pharmaceutical applications. The lab-scale machine will be made available for trials with prospective pharma-industry purchasers of large-scale microwave-assisted lyophilization equipment. This machine will also be used for internal evaluation and technology advancement activities at GEA. This will allow GEA to better showcase EnWave’s technology to pharmaceutical companies as a first step in evaluating the merits of adopting larger-scale capacity.
GEA intends to install the customized lab-scale REV™ machine at its pilot facility in Hürth, Germany.
In January 2020, EnWave and GEA announced a Joint Development Agreement, where the companies agreed to work closely to combine GEA’s leading pharmaceutical industry manufacturing capabilities with EnWave’s patented microwave-assisted lyophilization technology. GEA is a global leader in the design, manufacture, and installation of GMP equipment to the pharmaceutical sector, and is working with EnWave to incorporate REV™ technology into its suite of products. EnWave’s pharmaceutical technology allows for a rapid and controlled drying process for sensitive vaccines and biological compounds.
Under the terms of the Joint Development Agreement, GEA will be responsible for the design, manufacture and sale of any large-scale REV™ equipment sold to the pharmaceutical sector, and EnWave shall earn an undisclosed royalty based on the revenue generated.
About GEA Lyophil GmbH
GEA Lyophil GmbH is part of the GEA group of companies. GEA is one of the largest technology suppliers for food and pharmaceutical processing, and a wide range of other industries. The global group specializes in machinery, plants, as well as process technology and components. GEA provides sustainable solutions for sophisticated production processes in diverse end-user markets and offers a comprehensive service portfolio.
For more information about GEA, please visit www.gea.com.
EnWave Corporation, a Vancouver-based advanced technology company, has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patented methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand.
EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:
1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and
2. quantaREV® which is used for continuous, high-volume low-temperature drying.
More information about EnWave is available at www.enwave.net.
Mr. Brent Charleton, CFA
President & CEO
For further information:
Brent Charleton, CFA
President & CEO at +1 (778) 378-9616
Dan Henriques, CA, CPA,
Chief Financial Officer at +1 (604) 835-5212
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