Micron Waste Technologies, Inc. (OTC Pink: MICWF) (CSE: MWM) is engaged in the development of waste treatment systems for cannabis and food waste. The company’s U.S.-listed shares surged 27.71% on Tuesday, August 27, 2019. Over the past month, Micron has seen an average daily volume of 38,990 shares. However, on Tuesday, 299,917 shares traded hands, equating to $59,980 in dollar volume.
Shares surged Tuesday after Micron announced it has received a five-year Cannabis Research License from Health Canada. Under the license, Micron will further develop its Cannavore™ waste processing system, the world’s first waste treatment system that “alters and denatures cannabis waste while recovering reusable water,” according to Micron Waste Technologies. In addition, Micron’s R&D team will use this opportunity to expand its facility wastewater management program which is located at the Micron Waste Innovation Centre in Delta, BC. Dr. Bob Bhushan, CTO and Founder of Micron, commented, “Accordingly, the Company is developing the most efficient, compliant management of green waste through our Cannavore digester technology. In addition, we are now expanding our wastewater treatment protocol to better assist licensed producers domestically and internationally to reclaim, reuse or compliantly discharge all facility wastewater generated in the cultivation of cannabis.” Here is the full press release detailing the Cannabis Research License obtained by Micron:
Micron Waste Technologies, Inc. Press Release:
VANCOUVER, Aug. 27, 2019 /PRNewswire/ – Micron Waste Technologies Inc. (“Micron” or the “Company”) (CSE: MWM, OTC: MICWF, Frankfurt: 7FM2), a leading developer of waste treatment systems for cannabis and food waste, today announced it has received a Health Canada Cannabis Research License to develop its aerobic waste digester technology for the treatment of cannabis waste. The license, effective for five years commencing August 23, 2019, will be used to further develop the world’s first waste treatment system that alters and denatures cannabis waste while recovering reusable water. The Company’s R&D team, led by Chief Technology Officer and Founder Dr. Bob Bhushan, will employ the new license to accelerate and expand the cannabis waste and wastewater programs, both through its industry-leading Cannavore™ waste processing system and through its developing facility wastewater management program at the Micron Waste Innovation Centre in Delta, BC.
“The Micron R&D team is focused on the current and future needs of cannabis facilities seeking sustainable waste management, both solid and liquid,” said Dr. Bhushan. “Accordingly, the Company is developing the most efficient, compliant management of green waste through our Cannavore digester technology. In addition, we are now expanding our wastewater treatment protocol to better assist licensed producers domestically and internationally to reclaim, reuse or compliantly discharge all facility wastewater generated in the cultivation of cannabis.”
Cultivar and Cannabinoid Profiling Program
Micron will also begin profiling and cataloging cannabis cultivars, also known as strains, to identify resin and fiber content. Under the auspices of the Company’s new research license, in-house characterization test programs will commence identifying optimal microbe and enzyme blends for the highest performance in the Cannavore™ digestion process. Micron’s proprietary live agent blends, based on its patented bioprocess, can then be targeted for the most rapid and efficient destruction, digestion and denaturing of biomass and Active Pharmaceutical Ingredients (APIs) according to leaf, flower and stalk ratios and cannabinoid content.
Environmental Consulting Services
Further to Micron’s Cannavore™ solid waste management program, the Company is now positioned for core competency in overall cannabis facility wastewater management. Dr. Bhushan, who has over 20 years of experience in digestion science and wastewater treatment in Canada and internationally, will lead Micron’s cannabis facility wastewater mitigation consulting services, which will be offered to existing and planned cannabis facilities seeking to sustainably address both green waste and water management through the reclamation and purification of facility wastewater.
“Micron’s team of scientists and engineers, assisted by the support of strategic partners Aurora Cannabis Inc. and BC Research Inc., is unique in the world in terms of specialization, experience and knowledge in the management of solid cannabis waste and the purification of cannabis-containing wastewater,” said President and CEO Alfred Wong. “We intend to leverage this valuable portfolio of expertise to expand our potential revenue base, consulting to and servicing cannabis cultivators seeking overall sustainable, compliant solid waste and wastewater management.
Cannavore™ Collaboration with Aurora Cannabis Inc., Organivore™ and New Verticals Update
Micron’s Cannavore™ waste system prototype continues to meet milestones at Aurora’s Mountain facility near Calgary, where is it undergoing full throughput processing and stress testing. The world’s first closed-loop cannabis waste processing system was designed to Aurora’s specifications to be a clean technology solution to process organic waste generated from the growth and cultivation of cannabis, while mitigating concerns about the potential environmental impact.
Micron currently has additional Cannavore™ systems under construction, working with strategic partner BC Research Inc. Micron’s Organivore™ food waste system prototype is currently being upgraded with new technology developed for the Cannavore™. In the Company’s New Verticals Program, additional waste targets are being assessed in food processing and brewing and spirits, using the on-site laboratory and Organivore™ test unit at the Company’s Innovation Centre.
About Micron Waste Technologies Inc.
Micron is a leading green technology company that develops organic waste treatment and water reclamation systems. Micron focuses on developing solutions for organic waste and specialized waste streams including cannabis cultivation waste. Micron’s patented aerobic bioprocess substantially reduces the volume of organic waste, minimizes greenhouse gas emissions generated from trucking and landfilling, and produces clean water that meets municipal effluent discharge standards. The Company has a strategic partnership with Aurora Cannabis Inc. (TSX:ACB, NYSE:ACB), one of the world’s leading cannabis companies. In addition, Micron is partnered with BC Research Inc, part of the NORAM Group of Companies, with extensive experience in large scale private and municipal wastewater treatment systems. Micron is a public company with listings on the CSE: MWM, OTC: MICWF, and in Frankfurt: 7FM2. Please visit www.micronwaste.com for further information.
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Article By: Andrew Rego