EnWave enters commercial licence deal with Shinyway

Executive Summary

• EnWave Corp. has entered into a royalty-bearing commercial license agreement with Shinyway International Ltd., a cannabis processing service provider based in New Zealand.
• The agreement grants Shinyway the rights to utilize EnWave’s patented radiant energy vacuum technology for the production of cannabis products within New Zealand.
• Shinyway is obligated to pay royalties commensurate with other existing licenses granted by EnWave, marking a strategic expansion of EnWave’s licensing model into the cannabis sector.

Key Details

• Counterparty: Shinyway International Ltd., a cannabis processing service provider headquartered in Christchurch, New Zealand.
• Agreement Type: Royalty-bearing commercial license agreement.
• Technology Licensed: EnWave’s patented radiant energy vacuum technology.
• Application: Production of cannabis products in New Zealand.
• Financial Terms: Shinyway will pay a royalty commensurate with certain other existing licenses granted by EnWave.
• Strategic Context: EnWave’s broader strategy involves signing royalty-bearing commercial licenses with food producers seeking alternatives to freeze drying, rack drying, and air drying, aiming for faster moisture reduction (up to seven times faster) and improved product quality.
• Company Background: EnWave is described as a global leader in vacuum microwave dehydration with a portfolio spanning 24 countries and five continents, serving the food, pharmaceutical, and cannabis industries.

Notable Quotes

• "Shinyway will pay a royalty commensurate with certain other existing licences granted by EnWave, and the company intends to continue working closely with Shinyway to ensure optimal product development success."