EnWave Signs Equipment Purchase Agreement to Deliver 60kW Vacuum-Microwave Machinery to Current Royalty Partner
September 13 2022 - 9:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that it has signed an Equipment
Purchase Agreement with a current royalty partner (the “Royalty
Partner”), a leading global snack manufacturing company, to
commission a 60kW Radiant Energy Vacuum (“REV™”) dehydration
machine in Asia. This large-scale, continuous vacuum-microwave
dehydration machinery will significantly increase the Royalty
Partner’s commercial REV™ manufacturing capacity.
The Royalty Partner has successfully developed
several healthy snack products using REV™ technology and will
continue to focus on commercializing new premium fruit and
vegetable snack products that are healthier for the consumer than
other snack products.
The installation of the 60kW REV™ machine is
expected to take place in the first half of 2023.
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, product quality, and cost.
With more than forty-five 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.
In addition, EnWave established a Limited
Liability Corporation, NutraDried Food Company, LLC, to
manufacture, market and sell REV-dried snack products within North
America, including the popular Moon Cheese® brand, and serve as a
co-manufacturer for third parties.
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 Corporation
Mr. 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
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.
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the adequacy or accuracy of this release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e42e11f1-28f0-4bd5-82b8-6b1ceb39e64e
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