EnWave Signs Commercial License Agreement with Patatas Fritas Torres S.L. and Receives Purchase Order for REVTM Machinery
September 24 2019 - 9:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the
"Company") reports today that it has signed a
royalty-bearing commercial license agreement (the “License”) with
Patatas Fritas Torres S.L. (“Patatas Fritas Torres”). The License
grants Patatas Fritas Torres the non-exclusive right to process a
variety of premium cheese snack products in Spain. Patatas Fritas
Torres has purchased a 10kW commercial Radiant Energy Vacuum
(“REV™”) machine to initiate commercial production of new premium
cheese snack products using EnWave’s proprietary dehydration
technology.
Established in 1969, Patatas Fritas Torres
started as a premium potato chip manufacturer and that tradition
continues today with a wide range of innovative premium snacks and
chips. Patatas Fritas Torres intends to extend its offering of
premium snack products using REV™ for the local market in Spain and
for export markets.
This License is the second royalty-bearing
commercial license agreement signed by EnWave in Spain, the twelfth
such license signed for dairy product processing worldwide and
further proves the value proposition of REV™ technology as a tool
to create innovative, premium food applications in the dairy
industry.
About Patatas Fritas Torres
S.L.
Patatas Fritas Torres is a Catalonian family
business, known for its innovative and entrepreneurial approach to
the development and marketing of premium snacks. Patatas
Fritas Torres is committed to creating high-quality products that
are healthy and tasty, high in nutritional value and that have
health benefits for consumers.
Patatas Fritas Torres has received the XXI
International Food and Beverage Trophy in Paris and also the XXVII
International Trophy for Quality.
For more information about Patatas Fritas
Torres, please visit
www.patatastorres.com
About EnWave
EnWave Corporation, a Vancouver-based advanced
technology company, has developed Radiant Energy Vacuum (“REV™”) –
an innovative, proprietary method for the precise dehydration of
organic materials. EnWave has further developed patent-pending
methods for uniformly drying and decontaminating cannabis through
the use of REV™ technology, shortening the time from harvest to
marketable cannabis products.
REV™ technology’s commercial viability has been
demonstrated and is growing rapidly across several market verticals
in the food, and pharmaceutical sectors, including legal cannabis.
EnWave’s strategy is to sign royalty-bearing commercial licenses
with innovative, disruptive companies in multiple verticals for the
use of REV™ technology. The company has signed over thirty
royalty-bearing licenses to date. In addition to these licenses,
EnWave established a Limited Liability Corporation, NutraDried Food
Company, LLC, to manufacture, market and sell all-natural dairy
snack products in the United States, including the Moon Cheese®
brand.
EnWave has introduced REV™ as a disruptive
dehydration platform in the food and cannabis sectors: faster and
cheaper than freeze drying, with better end product quality than
air drying or spray drying. EnWave currently offers two distinct
commercial REV™ platforms:
1. nutraREV® which is a
drum-based system that dehydrates organic materials quickly and at
low-cost, while maintaining high levels of nutrition, taste,
texture and colour; and,
2. quantaREV® which is a tray-based system
used for continuous, high-volume low-temperature drying.
More information about EnWave is available at
www.enwave.net.
EnWave Corporation
Mr. Brent Charleton, CFAPresident and CEO
For further information:
Brent Charleton, CFA , President and CEO at +1 (778) 378-9616
E-mail: bcharleton@enwave.net
Dan Henriques, CFO at +1 (604) 835-5212 E-mail:
dhenriques@enwave.net
Deborah Honig, Corporate Development at + 1 (647)
203-8793E-mail: dhonig@enwave.net
Safe Harbour for Forward-Looking Information
Statements: This press release may contain forward-looking
information based on management's expectations, estimates and
projections. All statements that address expectations or
projections about the future, including statements about the
Company's strategy for growth, product development, market
position, expected expenditures, and the expected synergies
following the closing are forward-looking statements. All third
party claims referred to in this release are not guaranteed to be
accurate. All third party references to market information in this
release are not guaranteed to be accurate as the Company did not
conduct the original primary research. These statements are not a
guarantee of future performance and involve a number of risks,
uncertainties and assumptions. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3bac680a-2f84-49cc-b39a-ac7d72e8daa0
EnWave (TSXV:ENW)
Historical Stock Chart
From Mar 2024 to Apr 2024
EnWave (TSXV:ENW)
Historical Stock Chart
From Apr 2023 to Apr 2024