EnWave Signs Technology Evaluation and License Option Agreement with Pick-One to Develop REV™ Snacks in Mexico
November 19 2019 - 9:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
“Company”) announced today that it has signed a
Technology Evaluation and License Option Agreement (the “TELOA”)
with Pick-One S.A. de CV (“Pick-One”) to evaluate the use of the
Company’s Radiant Energy Vacuum (“REV™”) dehydration technology for
the development of dehydrated fruit and vegetable snacks. During
the term of the TELOA, Pick-One will pay a monthly evaluation fee
and have the non-exclusive option to license REV™ technology in
Mexico for a range of snack products.
The expansion of EnWave’s technology into Mexico
further proves the global value proposition for food processors
seeking to launch new and innovative premium snack food products.
EnWave holds a robust intellectual property portfolio spanning
numerous international markets and has licensed REV™ technology to
food companies in over fifteen countries worldwide.
About Pick-OnePick-One is a
100% Mexican owned company born with the idea of bringing healthy
and delicious products to the market. Through the company’s
commitment to adopting innovative processes and unique flavor
profiles into its product offering, Pick-One came across EnWave’s
REV technology. Pick-One is excited to develop an innovative new
suite of healthy snack products to captivate the taste buds of the
Mexican consumer utilizing EnWave’s REV technology. For more
information, please visit www.pick-one.mx
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:
- 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,
- 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
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/05f24f84-6eb7-45af-a73f-382a57e57705
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