EnWave Signs Technology Evaluation and License Option Agreement with Major North American Egg Processing Company
December 06 2022 - 9:00AM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave,” or the
"Company”) today announced that the Company has signed a
Technology Evaluation and License Option Agreement (the
“Agreement”) with one of the largest foodservice suppliers of egg
products in the United States (“Partner”).
During the term of the Agreement, the Partner
will lease a pilot-scale vacuum-microwave machine to facilitate
in-house product development, with a focus on shelf-stable meals,
snacks and functional ingredients. EnWave will collaborate with the
Partner to ensure best practices developed over two decades of
commercial vacuum-microwave experience are used during this new
product development program. The Agreement also provides the
Partner with the right to license EnWave’s proprietary
vacuum-microwave technology for the production of egg and egg-based
applications.
EnWave has completed significant internal
research and development to highlight the benefits of using its
patented Radiant Energy Vacuum (“REV™”) technology in several food
categories. The Agreement with the Partner is the first that is
focused primarily on egg and egg-based applications. To date, the
Company has signed more than fifty licenses with companies spanning
twenty countries globally.
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, CFA President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778)
378-9616 E-mail: bcharleton@enwave.net
Dylan Murray, CFO at +1 (778) 870-0729E-mail:
dmurray@enwave.net
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projections. All statements that address expectations or
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