- Technology company EnWave (ENW) has signed a Technology Evaluation and License Option Agreement with an American industrial hemp producer
- Through the agreement, the hemp producer will evaluate the commercial potential of EnWave’s Radiant Energy Vacuum (REV) dehydration technology
- The hemp producer will have the option to license REV technology for dehydrating hemp products for cannabidiol (CBD) extraction
- If the evaluation succeeds, EnWave and the hemp producer may sign a royalty-bearing commercial license agreement and equipment purchase agreement
- EnWave (ENW) is up 2.33 per cent, and is currently trading for C$0.88 per share
Technology company EnWave (ENW) has signed a Technology Evaluation and License Option Agreement with an American industrial hemp producer.
The agreement will allow the hemp producer to evaluate the potential commercial use of EnWave’s Radiant Energy Vacuum (REV) dehydration technology.
While EnWave’s technology is primarily used for the creation of food products, it also has potential applications in the cannabis and hemp industry. In particular, it can provide cannabis and hemp producers with a comparatively faster solution for post-harvest drying.
This latest hemp producer will join the ranks of numerous other cannabis and hemp producers who have adopted EnWave’s REV technology. Previous producers have hailed from countries all over the world, including Canada, the US, Australia, New Zealand, and Switzerland.
During the agreement’s term, the hemp producer will have the exclusive option to license REV technology for use in the state of Illinois, for the purpose of dehydrating hemp products for cannabidiol (CBD) extraction. The hemp producer will pay a monthly evaluation fee to EnWave for this privilege.
If the REV technology is able to produce dried hemp with zero degradation of CBD content, this will improve the hemp producer’s processing efficiencies and CBD production costs.
If the hemp producer considers the evaluation to be successful, it is likely that it will commit to purchasing REV machinery. This will be accomplished by signing a royalty-bearing commercial license agreement and equipment purchase agreement with EnWave.
EnWave (ENW) is up 2.33 per cent and is trading at C$0.88 per share at 10:28am EDT.