02opida
3 years ago
VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (โEnWaveโ, or the โCompanyโ) announced today that it has signed a technology evaluation and license option agreement (the โTELOAโ) with Bridgford Foods Corporation (NASDAQ: BRID) (โBridgfordโ), a leading American food production company. Bridgford currently focuses on the production of frozen and snack foods, with operations in California, Texas, Illinois and North Carolina. Prior to the signing of the TELOA, Bridgford entered into a cooperative research and development agreement (โCRADAโ) with the U.S. Army to jointly develop commercially viable military ration components.
The CRADA allows EnWave to install a 10kW REVโข machine recently purchased by the U.S. Army in February 2021 at a site of Bridgfordโs in North Carolina for research and development purposes. The TELOA grants Bridgford the option to enter into a royalty-bearing commercial license to produce REVโข-dried commercial baked goods and meat products for both the U.S. Army and their broader client base. EnWave and Bridgford will now collaborate to replicate certain close combat rations developed by the U.S. Army for field use.
Concurrently during the term of the TELOA, the U.S. Army is planning to submit a ManTech application to the U.S. Department of Defense to potentially receive funding to purchase a 60kW REVโข machine for larger scale military ration production.
02opida
3 years ago
signed a technology evaluation and license option agreement (the โTELOAโ) with Bridgford Foods Corporation (NASDAQ: BRID) (โBridgfordโ), a leading American food production company. Bridgford currently focuses on the production of frozen and snack foods, with operations in California, Texas, Illinois and North Carolina. Prior to the signing of the TELOA, Bridgford entered into a cooperative research and development agreement (โCRADAโ) with the U.S. Army to jointly develop commercially viable military ration components.