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Be the first with the news that moves the market- Technology company EnWave (ENW) has signed an equipment purchase agreement with GEA Lyophil GmbH
- GEA is a German company which supplies technology for food and pharmaceutical processing, as well as other industries
- EnWave will deliver a lab-scale Radiant Energy Vacuum machine, to demonstrate and develop the technology for pharmaceutical applications
- GEA will use the equipment to advance its potential commercialisation in the pharmaceutical industry
- EnWave is up 3.09 per cent and is currently trading for C$1.00 per share
Technology company EnWave (ENW) has signed an equipment purchase agreement with GEA Lyophil GmbH.
Based in Germany, GEA is one of the largest suppliers of technology for food and pharmaceutical processing, and other industries.
Under the agreement, EnWave will deliver a lab-scale version of its Radiant Energy Vacuum (REV) machine to GEA. This will be for the purpose of demonstrating and developing the REV dehydration technology’s potential for pharmaceutical applications.
EnWave’s machine is typically used for drying food products, but the rapid controlled drying process could be used for sensitive vaccines and biological compounds.
GEA will use EnWave’s equipment to advance its commercialisation in the pharmaceutical industry. The company plans to install the customised lab-scale REV machine at its pilot facility in Hürth, Germany.
At GEA’s facility, the machine will be undergo internal evaluation and technology advancement activities. This will allow GEA to assess the technology’s merits for adopting larger-scale capacity, and to showcase EnWave’s REV technology to pharmaceutical companies.
GEA will also make the lab-scale machine available for trials with prospective buyers from the pharmaceutical industry. In particular, the REV technology may appeal to those who purchase large-scale microwave-assisted lyophilisation equipment.
The equipment purchase agreement between EnWave and GEA follows on from a joint development agreement which the companies announced in January.
Under that agreement, the companies decided to combine GEA’s manufacturing capabilities with EnWave’s patented microwave-assisted lyophilisation technology.
As part of the joint development, GEA will design, manufacture and sell any large-scale REV equipment which is purchased by the pharmaceutical sector. EnWave will earn an undisclosed royalty based on the revenue generated from these sales.
EnWave is up 3.09 per cent and trading for C$1.00 per share, as of 10:11am EST.
