EnWave Signs Technology Evaluation and License Option Agreement with Major North American Meat Snack Company
September 15 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 (the “Agreement”) with a
major North American meat snack company (the “Meat Snack Company”),
an entity that EnWave has previously worked with closely. The
Agreement provides the Meat Snack Company with the right to develop
and market test several innovative meat snack iterations in the
United States of America.
During the term of the Agreement, EnWave will
lease a 10kW Radiant Energy Vacuum (“REV™”) machine for use. Prior
to entering into the Agreement, the Meat Snack Company collaborated
with EnWave to refine product concepts at the Company’s innovation
center in Vancouver, Canada. Planned market tests are to take place
in 2023. If successful, EnWave expects the Meat Snack Company to
need large-scale REV™ machinery to meet their forecasted production
capacity.
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:
• |
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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. |
|
|
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• |
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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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