“This increased Affinity™ bead capacity will yield numerous benefits beyond the obvious increase in production yields…This will also result in significantly reduced ethanol usage which will facilitate an easier installation, reduced safety and site certification concerns, reduced solvent recovery requirements, and overall implementation for our customers,” noted Dr. Jon Gluckman, President & CEO of Sixth Wave.
What kind of beads are we talking here? embroidery beads, crystal beads, an…never mind. Sixth Wave’s Affinity™ System uses the Company’s patent-pending Affinity™ Molecularly Imprinted Polymer (MIP) technology for the cannabis and hemp industry. For context, Sixth Wave’s MIP technology specializes in the extraction and detection of target substances at the molecular level. With this in mind, the Company’s Affinity™ MIP technology has demonstrated a strong affinity for extracting cannabinoids without modification or use of toxic chemicals. Aside from cannabis and hemp, Sixth Wave is also developing a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPS™) label. Recently, on August 19, 2021, the Company’s AMIP™ technology achieved high-sensitivity detection of SARS-CoV-2, including the Delta variant of the virus.
With this in mind, Sixth Wave is developing a versatile portfolio of MIP products. Referring back to the Company’s latest news, ongoing refinement of bead formulations have resulted in an increase in expected production capacity for Sixth Wave’s Affinity™ System. To make sense of this, let’s talk a bit more about the Affinity™ System. The Company’s Affinity™ System uses bead MIP technology to provide high purity THC and CBD from cannabis and hemp. These beads capture specific molecules instantly while simultaneously avoiding pesticides, heavy metals, and other contaminants. By specifically targeting select molecules, Sixth Wave’s Affinity™ System ensures that only the purest cannabinoids are extracted.
According to the Company’s press release, bead capacities in excess of 800mg of cannabinoids per kilogram of Affinity™ beads have been achieved. As a result, these increased capacities will allow for significantly increased capacity of Affinity™ with reduced complexity, size, overall footprint, and cost of operations. Furthermore, Sixth Wave’s Affinity™ System has the potential to be scaled to meet any customer demand. Previously, the Affinity™ System was able to output a production capacity of 20kg per day. However, based on current standard operating procedures, the baseline Affinity™ System is expected to be capable of processing approximately 14kg of high purity distillate every 10 hours of operating, or in excess of 30kg per day. This marks a significant increase over the Affinity™ System’s previously announced 20kg per day capacity.
Sixth Wave’s share price opened at $0.32, up from a previous close of $0.30. The Company’s shares are up 10% following the news and were trading at $0.33 as of 10:13AM ET.