EnWave Signs Commercial Lease Agreement with Major Pet Treat Company to Accelerate New Product Development
27 Septembre 2023 - 3:00PM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that it has signed a commercial
lease agreement (the “Agreement”) with a major pet treat company
(“Partner”) in the United States. The Partner previously signed a
commercial royalty-bearing license with EnWave and pursuant to the
Agreement, EnWave will lease a new 10kW Radiant Energy Vacuum
(“REV™”) dehydration machine for the Partner to use for the
development and test marketing of new, innovative pet treat
products.
Prior to signing the Agreement, the Partner and
EnWave conducted preliminary product development at the Company’s
Innovation Center located in Delta, British Columbia. The product
concepts were received favorably by the Partner, compelling both
parties to continue exploration of material commercial product
opportunities using REV™ technology in the pet treat space.
EnWave intends to grant certain product
exclusivities to the Partner if the next phase of product
development and market testing is successful, and pursuant to
Partner’s acquisition of large-scale REV™ dehydration
machinery.
About EnWave EnWave is a global
leader in the innovation and application of vacuum microwave
dehydration. From its headquarters in Delta, B.C., 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 fifty royalty-generating partners
spanning twenty-six 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 producers who want to dry better,
faster and more economical than freeze drying, rack drying and air
drying, and enjoy the following benefits of producing exciting new
products, reaching optimal moisture levels up to seven times
faster, and improve product taste, texture, color and nutritional
value.
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
Dylan Murray, CFO at +1 (778) 870-0729E-mail:
dmurray@enwave.net
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information based on management's expectations, estimates and
projections. All statements that address expectations or
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