EnWave Signs Second Equipment Purchase Agreement with Illinois-Based Cannabis Royalty Partner for Another 120kW REV ™ Dehydration Machine

VANCOUVER, British Columbia, December 30, 2021 (GLOBE NEWSWIRE) – EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave” or the “Company”) today announces the signing of a second equipment purchase agreement for the sale of a second 120 kW Radiant Energy Vacuum (“REV ™”) dehydration machine to a leading cannabis company based in the Illinois (the “MSO”) which operates in several US states. MSO signed a royalty-free commercial license agreement (the “License”) with EnWave and purchased its first 120 kW REV ™ machine in March 2021.

Since adopting REV ™ technology for drying premium quality cannabis, the MSO uses EnWave’s proprietary Terpene Max ™ drying protocol, which offers a quick and gentle drying method that removes moisture from cannabis from homogeneous way. EnWave’s Terpene Max ™ program allows precise temperature control of cannabis at low temperatures below the decarboxylation point. Compared to other drying methods, REV ™ protocols can be customized to improve terpene retention while preserving equivalent or superior cannabinoids. Cannabis flowers dried using the Terpene Max ™ program provide an average of 10% more retained terpenes than dried flowers in the room or in a rack. Bioburden is also significantly reduced when using REV ™ drying protocols. REV ™ technology allows cannabis growers to cut drying times from days to less than two hours, while maintaining flower quality.

MSO produces premium REV ™ dried cannabis flowers on its first 120 kW REV ™ system since September 2021. With the purchase of this second 120 kW REV ™ system, MSO will double its smokable cannabis product drying capacity. of superior quality. . Under the license, MSO will pay EnWave a royalty based on the finished weight of dried cannabis processed using the REV ™ systems installed. A single 120 kW REV ™ machine can process approximately 200 lbs of wet cannabis biomass per hour, producing approximately 45 lbs of finished dried product. This translates to over 200,000 pounds of dried cannabis produced per year. EnWave’s REV ™ equipment can be manufactured for GACP and GMP compliance upon request.

About EnWave
EnWave Corporation, a Vancouver-based cutting-edge technology company, has developed Radiant Energy Vacuum (“REV ™”) – an innovative and proprietary method for the precise dehydration of food and cannabis applications. The company has developed patented methods to uniformly dry and decontaminate cannabis through the use of REV ™ technology, shortening the time between harvest and marketable cannabis products. EnWave also has a strong intellectual property portfolio protecting several unique processes related to specific food applications produced using vacuum-microwave technology.

The commercial viability of REV ™ technology has been demonstrated and is growing rapidly in several industry verticals in the food and pharmaceutical industries, including legal cannabis. EnWave’s strategy is to enter into paid commercial licenses with innovative and disruptive companies in several verticals for the use of REV ™ technology. To date, the company has signed more than forty-five licenses covering twenty countries and five continents. In addition to these licenses, EnWave established a limited liability company, NutraDried Food Company, LLC, to manufacture, market and sell REV ™ dried snacks in North America, including Moon Cheese.® brand, as well as co-manufacture on behalf of third parties.

EnWave introduced REV ™ as a disruptive dehydration platform in the food and cannabis industries: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two separate REV ™ business platforms:

1. nutraTOWER® which is a drum system that dehydrates organics quickly and at low cost, while maintaining high levels of nutrition, taste, texture and color; and,

2. quantaTOWER® which is a tray system used for continuous high volume, low temperature drying.

EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machines.

More information about EnWave is available at www.enwave.net.

EnWave Corporation

Mr. Brent Charleton, CFA
President and CEO

For more information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
Email: [email protected]

Dan Henriques, CFO at +1 (604) 835-5212
Email: [email protected]

Safe Harbor for Forward-Looking Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections regarding the future, including statements on the Company’s growth strategy, product development, market position, expected expenses and expected synergies after closing are forward-looking statements. All third party claims mentioned in this release are not guaranteed to be correct. 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, other factors may cause results not to be as anticipated, estimated or forecast. 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. Therefore, 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.


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