EnWave Signs Commercial License Agreement with Responsible Foods in Iceland and Receives Purchase Order For REV™
December 18 2019 - 09:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
“Company”) announced today that it has signed a
royalty-bearing commercial license agreement (the “License”)
with Responsible Foods ehf (“Responsible Foods”) to produce Radiant
Energy Vacuum (“REV™”) dried snacks and ingredients using premium
Icelandic raw materials.These REV™-dried applications will be sold
in both domestic and international markets. Under the terms of the
License, Responsible Foods purchased a 10kW commercial REV™ machine
to initiate production in Iceland.
The License grants Responsible Foods the
exclusive right to process a variety of unique and healthy food
products in Iceland including, but not limited to, dairy products,
seafood, meat, microalgae and seaweed, and a variety of herbs,
berries and mushrooms native to Iceland. These REV™ dried products
can be sold as ingredients or retail consumer products around the
world.
This License is the first signed by EnWave in
Iceland and 36th world-wide further proving the value proposition
of REV™ technology as a tool to create innovative, premium food
applications.
About Responsible Foods
Responsible Foods is an Icelandic innovative
healthy start-up snack food company located in the Reykjavik metro
area in Iceland. Responsible Foods has developed new disruptive and
innovative healthy functional snack food products under the brand
name Næra™, which means to nourish (nai:ra / verb). The snacks are
based on healthy authentic clean natural Icelandic ingredients
rooted in centuries of Icelandic Viking traditions. The company is
revolutionizing snacking using the proven exclusive EnWave drying
technology in combination with its Icelandic ingredient and
exclusive formulations. The highly novel healthy snacks will be the
first of their kind and will meet escalating global consumer demand
for products that are at the same time healthy, tasty and
convenient to keep them fueled throughout the day and for outdoor
adventures. All the snacks produced by Responsible Foods will be
nut, wheat and gluten-free as well as non-GMO, antibiotic and
hormone-free. The company is led by a highly experience strong
international team with decades of experience in the global food
industry.
More information on Responsible Foods is available at
www.responsiblefoods.is.
Responsible Foods
Holly T. Kristinsson (Petty), PhDCEO and Founder
For further information:
Holly T. Kristinsson (Petty), PhD, CEO and Founder at +354
858-5060 E-mail: Responsiblefoods@gmail.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:
- 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
party claims referred to in this release are not guaranteed to be
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uncertainties and assumptions. Although the Company has attempted
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0736f1f-72bf-4a98-878b-12d2b8362f09
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