EnWave Corporation (TSXV:ENW)

Technology

EnWave Corporation is a junior industrial technology company that specializes in the dehydration process. EnWave Corporation is publicly listed on the TSX Venture Exchange market, and its common shares are traded under the ticker symbol ENW.

In addition to the TSXV, the company also trades its common stock on the Frankfurt Stock Exchange (FSE) in Europe. The history of EnWave dates to 1996 when the Radiant Energy Vacuum Dehydration machine was created to process food and nutraceutical products at the University of British Columbia.

The British Columbia-based tech industrial product company has developed a patented vacuum microwave technology -- REVTM (Radiant Energy Vacuum Dehydration) that allows rapid, low temperature drying with customizable moisture content to sustain the authenticity of the products.

EnWave Corporation offers the following REV technology-based industrial products:

• nutraREV® is a drum-based machine ideal for dehydration of organic materials or a combination of organic materials to utilize the total capacity of the machinery. The company offers nutraREV machines in three microwave power capacities, including ten kilowatts, 60 kilowatts and 100 kilowatts.

• quantaREV® is a tray-based machine that transports product loaded trays to a vacuum chamber via two slide entries. The company offers quantaREV machines in three distinct capacities, including ten kilowatts, 60 kilowatts and 120 kilowatts.

Both nutraREV and quantaREV machinery are suitable for product innovation and testing, market trials, and small- and large-scale production companies.

In addition to the tech machinery, EnWave Corporation also offers various services including:

• Product development and pilot plant rentals

• Toll drying services

• Short-term machine rentals

• Installation and start-up of new REV machines

The Radiant Energy Vacuum technology by the company is crucial for the dehydration process for food and ingredients, pharmaceutical products, and cannabis and hemp products. EnWave Corporation operates through two business segments, including EnWave and NutraDried. A significant part of EnWave’s revenue comes from the NutraDried business, acquired by the corporation in 2018.

In a press release dated July 14, 2021, EnWave Corporation said it signed a commercial royalty license with Medical Kiwi Limited, a New Zealand-based cannabis producer, wherein the latter was granted the right to use EnWave’s technology.