EnWave Signs Equipment Purchase Agreement with Royalty Partner for 120kW REV Machinery
22 Mai 2024 - 3:00PM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
“Company”) today announced that it has signed an Equipment
Purchase Agreement (the “Agreement”) with an existing Royalty
Partner that has licensed the Company’s patented Radiant Energy
Vacuum (“REV®”) dehydration technology. Pursuant to the Agreement,
EnWave has received a non-refundable deposit from the Royalty
Partner towards the acquisition of a 120kW REV® dehydration machine
that is intended for start-up in 2024.
The Royalty Partner is actively commercializing
its own branded snack products, as well as working with several
major consumer packaged goods companies to develop and
co-manufacture a number of new snack and ingredient products. If
these co-manufacturing opportunities are confirmed, the Royalty
Partner expects to fully utilize the manufacturing capacity of this
120kW REV® machine within the first year of operation.
EnWave is well advanced on a number of similar
opportunities to prospectively confirm additional large-scale REV®
machine sales this fiscal year.
About EnWave EnWave is a global
leader in the innovation and application of vacuum microwave
dehydration. From its headquarters in Delta, 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 fifty royalty-generating partners
spanning twenty-three 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, CPA, CA, CFO at +1 (778) 870-0729E-mail:
dmurray@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.
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