Sixth Wave Enhances Commercial Manufacturing Capabilities by Partnering with Advanced Extraction Systems Inc.
Halifax, Nova Scotia--(Newsfile Corp. - July 9, 2020) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: ATURF) (FSE: AHUH) ("Sixth Wave" or the "Company") is pleased to announce that it has executed a Letter of Intent ("LOI") to pursue a strategic partnership with Advanced Extractions Systems Inc. ("AESI") of Prince Edward Island Canada for the purpose of designing and manufacturing commercial scale Affinity™ Systems for the separation of cannabinoids for isolates and distillates using Sixth Wave's patented Molecular Imprinted Polymer ("MIP") technology.
Under the terms of the non-binding LOI, AESI will build upon the existing Sixth Wave unit designed in collaboration with PuriTech to assist with the design of a commercial scale Affinity™ System. Additionally, AESI will produce AffinityTM Systems for the North American market. AESI will also provide ongoing support to field and service equipment installed in North America and other countries.
"We're excited to mark off yet another milestone for our commercial production roadmap through the proposed partnership with ASEI" said Dr. Jonathan Gluckman, President and CEO of Sixth Wave. "David Campbell and his staff bring valuable experience in designing, engineering, fabricating and supporting efficient and easy to use extraction systems for cannabinoids. We look forward to starting our joint efforts immediately and we take great pride in extending the presence of Sixth Wave and our Canadian partners like AESI in growing the economy and bringing high-tech jobs to Atlantic Canada."
Sixth Wave Innovations and Advanced Extraction Systems Team
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"We are very excited about this proposed strategic partnership with Sixth Wave and their leading edge technology for separation of molecules," said David Campbell, COO with AESI. "This collaboration could change the way licenced producers in North America post process their extracted products in both the cannabis and hemp industries."
Further to the Letter of Intent, upon signing of definitive agreements, the companies will collaborate on several key initiatives, including:
- The design and manufacture of a commercial scale Affinity™ System;
- The pursuit of design and manufacturing refinements in order to maximize cost effectiveness; and performance metrics.
AESI will provide the following key functions:
- Drafting, instrumentation and control, engineering and project management resources;
- The development of a preventative maintenance program for the units; and
- The development of standard operating procedures for the units.
Sixth Wave will provide the following key inputs relative the Affinity™ technology:
- Training, as required, relative to the MIP technology;
- Process and instrumentation diagram for existing, smaller scale systems; and
- Installation and commissioning of systems.
The definitive agreement will incorporate an exclusive 5-year manufacturing agreement further to which AESI will manufacture the units for the North American market.
About Advanced Extraction Systems Inc.
Advanced Extraction Systems Inc. designs, engineers and fabricates supercritical fluid CO2 extraction systems with a specific focus in the medical and recreational cannabis and hemp industries and has provided equipment to a variety of producers including Canopy Growth Corporation and Organigram Holdings Inc. Advanced Extraction Systems Inc. has assembled a skilled management team and a world-class Scientific Advisory Board with more than 75 years of combined experience directly relating to supercritical fluid design and processes.
Advanced Extractions Systems Inc. provides the cleanest, most advanced CO2 Extraction processes that are leading edge due to a heavy internal focus on research and development. AESI CO2 extraction systems are unique in design, efficiency, and ease of operation. Specifically, AESI systems can be differentiated from the competition in six key technical ways; better pump reliability, superior flow rates, superior fractionation, more phase management control, cGMP recipe development, and scalability for future growth.
The senior researchers of AESI complement Sixth Wave's existing capabilities in separation of cannabinoids for isolates and distillates utilizing MIP's and other chemistry.
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers ("MIPs"). The Company is in the process of commercializing its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The Company is focused on nanotechnology architectures that are highly relevant for detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our web site at: www.sixthwave.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed "forward-looking statements," including statements regarding the AffinityTM System scale-up, THC remediation performance, and commencement of full-scale production. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, including the risks that AffinityTM System performance may not be maintained at production level, that anticipated cost savings and performance levels relative to competing technologies may not be realized, that other technologies with better performance or costs may be developed by competitors, or that the regulatory regime related to cannabis and hemp, which has evolved rapidly, may change in a manner adverse to the Company's business, and other risks detailed in the Company's filing statement available at www.sedar.com, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.
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