Canadian enterprise Enwave signed a enterprise agreement with Aurora Cannabis this April, providing it exclusive rights to use their drying technologies in exchange for $10 million in capital. Following the deal, each companies’ stocks shot up.
On April 26, the huge Canadian cannabis producer, Aurora Cannabis, announced they have signed a licensing agreement with EnWave, a tech enterprise that tends to make vacuum-drying applications and machinery for firms in the meals, beverages, and pharmaceutical sectors.
According to the agreement, Aurora will have exclusive rights to Enwave’s proprietary Radiant Power Vacuum (REV) dehydration technologies, which the enterprise will use for their cannabis production.
This technologies enables a lot faster drying of cannabis plants, from the usual 5 to eight days, to much less than an hour. Apart from getting speedy and effective, this procedure also maintains the high quality of the plant, retains cannabinoids and terpenes, prevents oxidation and delivers exceptional aroma and look, as is emphasized on Enwave’s site.
Aurora Cannabis will have exclusive rights to Enwave’s REV technologies for use in the European Union (minus Portugal), Australia and South America (minus Peru), as properly as non-exclusive rights to use the technologies in Canada.
This ought to absolutely give Aurora leverage more than competitors.
In exchange for the REV technologies, Enwave will acquire $10 million in equities from Aurora Cannabis.
Enwave is a modest enterprise that has been creating industrial vacuum-drying gear mainly for meals and pharmaceutical firms, as properly as promoting its cutting-edge REV machines to the US army. The enterprise has entered the marijuana marketplace just not too long ago.
One more useful outcome of this gorgeous new friendship was that each companies’ stocks shot up at the finish of April. According to MarketWatch, Aurora Cannabis stocks went up 83% this year, although Enwave’s shares climbed 42%.