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Enwave Corp V.ENW

Alternate Symbol(s):  NWVCF

EnWave Corporation is a dehydration technology company. It has developed Radiant Energy Vacuum (REV) technology, which is a rapid, low temperature drying method. REV technology allows for drying that preserves flavor, color, and nutrients for premium snacks, meals and ingredients. REV technology enables food processors to produce products that retain nutritive value, concentrated natural flavor, bright colors, texture, and physical attributes, such as puffing. Its vacuum-microwave technology enables uniform drying with flexible moisture content unattainable with Freeze Drying or Air Drying. Its REVworx is a toll processing facility that offers vacuum-microwave contract manufacturing services. It has two commercial REV platforms: nutraREV, which is a drumbased system that dehydrates organic materials and quantaREV, a tray-based system. The Company has various applications across industries, which include food & ingredients, pharmaceuticals and cannabis & hemp.


TSXV:ENW - Post by User

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Post by retiredcfon Sep 27, 2021 8:37am
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Post# 33922987

Raymond James

Raymond James

Raymond James analyst Steve Hansen sees EnWave Corp.  poised to make further inroads into the cannabis sector with its Radiant Energy Vacuum technology.

On Thursday, the Vancouver-based company announced a royalty-bearing commercial license agreement with a second large U.S. cannabis multi-state operator. The MSO also purchased a large-scale 120- kilowatt Radiant Energy Vacuum machine, which is used for the dehydration of organic materials, for its cultivation facility. 

“We view this latest news as further validation that EnWave’s proprietary REV technology and associated Terpene Max drying protocol are poised to gain further adoption across the U.S. cannabis sector,” said Mr. Hansen. “Prior to committing to the technology, we note this latest MSO reportedly conducted extensive benchmarking trials across multiple strains in order validate REV’s advantages over incumbent drying methods, ultimately proving out improved terpene and cannabinoid retention. As news of this commercial commitment spreads, we can only surmise that other major MSOs will likely want to follow in some fashion. At the same time, we see an opportunity for ENW to sell additional machines/capacity into these first two large MSOs as they become increasingly comfortable with the technology.”

Mr. Hansen thinks the latest order is “another solid stride toward management’s FY2021 target to sell 10 small-scale and 5 largescale REV machines.”

He reiterated an “outperform” rating for its shares without a specified target. The average on the Street is $1.53.

“This latest news only reinforces our constructive thesis and broader excitement about having both sides of the ENW platform firing at the same time,” he said. “Supporting this view, we continue to see several positive catalysts on the horizon, including: 1) accelerating REV machine sales across multiple industries (cannabis, food, pharma); 2) additional new business/sales wins at the company’s NutraDried division (grocers, retailers, third-party bulk); and 3) the near-term commissioning of its REVworx division.”

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