Enwave ENW CEO ON BNN BLOOMBERG
During commercial licenses to use our technology currently all of which are producing clean label food snacks and ingredients my dream label meaning that there aren’t any additional preservatives added to the product you may behave yourself ability so we’ll get into the science of it all you know back to chemistry and i feel but if you’re moving up water you’ll
Get stability for a long period of time so now you’re working with huge companies such as aurora and pillar a cannabis why would they want to dry caliber well our technology offers a very fast way to homogenious ly remove water from the material without damaging the inherent properties they want to retain such as a 100 percent a dvd so that they would like to
Extract from the plant material and also the footprint necessary for the machinery is far less than what would be required for the same amount of traditional air drying room to draw the same amount of product treating operational baby program vapor and also some facility improvement opportunities i know we can’t get too technical here but a radiant energy vacuum
Not different from normal i think normally drying would take place in charge the iranian technologist so the beauty of our technology is that it lowers the temperature at which the water is removed by the line of vacuum and we lower the atmospheric pressure you lower the boiling point of water yeah we do very specifically for certain product types and then in
Part microwave energy to excite those water molecules and remove the water quickly our typical drying times are less than two hours which compared to 24 to 48 hours for freeze drying or six eight hours for air dry yeah the boiling point i’ve heard from a guy who was up in the andes trying to cook to the top the water boils at below hundred degree centigrade yeah
But why would you want to dry cannabis i mean the real connoisseur don’t want dried up stuff well it depends for the extract market it really doesn’t matter in terms of terpene or attentions you’re trying to write as fast as possible while still again maintain cbd content for the combustible product we can augment the protein parameters to elongate the process
And maintain an acceptable level of terpenes to satisfy the conifers which are looking for that halo effect when consuming the product though we can do both but the primary focus from our licensing currently is in the extract phase your revenue in the latest six months well the latest numbers i have go to march 31st at revenue of about seventeen million dollars
Roughly 80% of the machine build revenues from the cannabis market a proportion of that is actually the movie film okay about two-thirds of the 17 is moochie filter wholly owned subsidiary company we are we are we see commenced the potential not only domestically here in canada but we have international aspirations we signed licensing with aurora for europe south
America and we have aspirations to partner with in australia in the near future so what is your business model to use do you lease out the machines or sell the machines or how does that work to make money three ways first is we sell the machine okay so it’s not a typical rural teavana where we’re bidding on those streams and then you know allocate certain capital
For a return we are actually selling at a modest profit and then we gain royalties based on the use of those machine officer on a program production basis in the cannabis industry or in the food space a percentage of the wholesale revenue drug typically three to five percent and then finally we make a lot of money selling the snack product down in the united states
Which again third as a proof of concept to de-risk the technology which is now significant contributor to our financial performance you preyed on the venture exchange them both v and w companies because of the bank sort of courses policy yeah and they don’t build their roof that would bring on to our directors employees and management though we’ve made the decision
Not before we go pro basketball player in the museum why do you get the raptors rapid we’re gonna take it down slate they will as a former pro know what’s tricky watching these games between california on the raptor zone is phenomenal the way that they’re able to park their egos at the door and come in and we’ll play for each other essentially and i think that’s
Reflected primarily for the leadership of kawhi leonard of course i will be out on day three tomorrow getting three birthdays around first with knowledge about the ball thanks very much indeed brent brent charlton has been our guest he’s president and ceo of end wave we are out of time on commodities don’t forget you
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Enwave ENW CEO BNN BLOOMBERG By RICH TV LIVE