Cannabis giant Tilray, Inc. (NASDAQ:TLRY ) and organic dehydration company EnWave Corporation (TSX-V: ENW; FSE: E4U) have teamed up to license Radiant Energy Vacuum (REV) technology to The Green Organic Dutchman Holdings (TSX: TGOD).
EnWave’s REV system is utilized to speed the drying and decontamination time in producing dried flower products and streamline the process of harvesting cannabis for sale under the newly legalized rules of the Cannabis Act.
The Green Organic Dutchman (TGOD) focuses on recreational sales in Canada and medical sales in Europe and Latin America, currently operating grow facilities in Ancaster, Ontario and Valleyfield, Quebec.
Both of those facilities are undergoing expansions to be completed this year, and commercial production will increase at one of those facilities as TGOD purchases a 60kw REV machine through the deal.
Under the terms of that deal, Tilray is granted exclusive rights to sub-license REV products to cannabis companies in Canada, with EnWave and Tilray sharing an undisclosed amount of the royalties from the sales.
TGOD Chief Executive Officer Brian Athaide commented on the newly struck licensing deal:
In related dehydration licensing news, EnWave recently announced plans to expand beyond cannabis as the company struck an evaluation and licensing agreement with food brand conglomerate Simplot Australia.
That deal will see Simplot evaluating the use of EnWave’s REV dehydrating technology for potential use by any of its subsidiary food brands, such as Birds Eye or Lean Cuisine.
Tilray has likewise made waves on the international cannabis scene lately, forming a board of both left and right wing former politicians from around the world to advise on marijuana strategies.
The company additionally announced a $100 million partnership with beer company AB InBev (NYSE: ADR) to research and produce CBD and THC beverages.