EnWave Signs Technology Evaluation and License Option Agreement with Wyckoff Farms for the Drying of Premium Hops
August 18 2022 - 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 (“TELOA”) with Wyckoff
Farms Inc. (“Wyckoff Farms”) to trial the use of a 10kW Radiant
Energy Vacuum (“REV™”) dehydration machine for the drying of
premium hop products. The 10kW REV™ machinery will be installed at
Wyckoff Farms’ facility located in Grandview, Washington, USA.
During the term of the TELOA, Wyckoff Farms will hold an exclusive
option to license EnWave’s technology for the drying of hop
products in the United States of America.
Wyckoff Farms is the parent company of
MicroDried®, one of EnWave’s longest standing licensed partners of
REV™ drying technology. Since 2012, MicroDried® has used REV™
drying to create 100% all-natural, high quality dried fruit and
vegetables that are rich in nutritional values and health
benefits. Over the past decade, Wyckoff Farms has solidified
its commitment to REV™ technology by scaling up to three
large-scale REV™ machines, all operating at MicroDried’s processing
facility in Nampa, Idaho.
About MicroDried®MicroDried®
operates a full-scale production facility in Nampa, ID for the
production of all MicroDried fruit and vegetable ingredients. The
company is committed to the highest domestic and international
certification standards in the industry. Plant certifications
include British Retail Consortium (BRC), AIB International and
Orthodox Union (OU) Kosher. All fruit and vegetable products offer
a clean single-ingredient label, are naturally low in fat, sodium
and cholesterol, are non-GMO, gluten and allergen free, and are
made in the USA.
For more information, please visit
microdried.com.
About EnWave EnWave is a global
leader in the innovation and application of vacuum microwave
dehydration. From its headquarters in Vancouver, BC, EnWave has
developed a robust intellectual property portfolio, perfected its
Radiant Energy Vacuum (REV™) technology, and transformed an
innovative idea into a proven, consistent, and scalable drying
solution for the food, pharmaceutical and cannabis industries that
vastly outperforms traditional drying methods in efficiency,
capacity and product quality.
With more than fifty royalty-generating partners
spanning twenty countries and five continents, EnWave’s licensed
partners are creating profitable, never-before-seen snacks and
ingredients, improving the quality and consistency of their
existing offerings, running leaner and getting to market faster
with the company’s patented technology, licensed machinery, and
expert guidance.
EnWave’s strategy is to sign royalty-bearing
commercial licenses with food and cannabis producers who want to
dry better, faster and more economical than freeze drying, rack
drying and air drying, and enjoy the following benefits:
- Food and ingredients companies can produce exciting new
products, reach optimal moisture levels up to seven times faster,
and improve product taste, texture, color and nutritional
value.
- Cannabis producers can dry four to six times faster, retain 20%
more terpenes and 25% more cannabinoids, and achieve at least a
3-log reduction in crop-destroying microbes.
Learn more at EnWave.net.
EnWave CorporationMr. Brent Charleton,
CFAPresident and CEO
For further information:Brent Charleton, CFA, President and CEO
at +1 (778) 378-9616E-mail: bcharleton@enwave.net
Dan Henriques, CFO at +1 (604) 835-5212E-mail:
dhenriques@enwave.net
Media inquiries: media@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.
EnWave (TSXV:ENW)
Historical Stock Chart
From Jun 2024 to Jul 2024
EnWave (TSXV:ENW)
Historical Stock Chart
From Jul 2023 to Jul 2024