EnWave Signs New Royalty-Bearing Commercial License with Bounty Specialty Foods Inc., Sells 10kW REV™ Machinery
24 Juin 2024 - 3:00PM
EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the
"Company") announced today that it has signed a new
royalty-bearing, commercial license agreement (the “Commercial
License”) with Bounty Specialty Foods Inc. (“Bounty”), a part of
Bounty Fresh Group, a leading producer of protein products in
Southeast Asia. Additionally, Bounty has purchased a
10kW Radiant Energy Vacuum (“REV™”) machine for continued product
development and early-stage commercial production for the Southeast
Asian Market.
Under the Commercial License terms, Bounty has acquired certain
exclusive rights to use EnWave’s patented REV™ technology for the
production of several product types in the Philippines. If initial
commercial efforts are deemed successful, Bounty intends to acquire
large-scale REV™ machinery to produce protein, fruit and vegetable
products in a more material manner. Bounty will pay a royalty
commensurate with certain other existing licenses granted by
EnWave, and the Company intends to continue working closely with
Bounty to ensure optimal product development success.
About Bounty Fresh GroupBounty
Fresh Group is a large-scale industrial agriculture company founded
by the Cheng family in 1986. It began as a table egg producer and
is now the second-largest poultry integrator and the leading table
eggs producer in the Philippines.
It is the only fully-integrated poultry company that has
continuously invested in company-owned facilities: Grand Parent
farm, Parent Stock farm, Hatcheries, Dressing Plants, Feed Mills,
and Cool-cell Broiler Complexes in the Philippines.
Bounty’s poultry integration served as a platform to expand its
operation in other industries such as pork products, manufacturing
of other agricultural products like commercial feed and vitamins,
and food take-away stores.
Rolling out over 1,800 takeout outlets nationwide under the
brands Chooks to Go and Uling Roasters, Bounty’s storefront
operation is one of the leading take-away stores in the
Philippines.
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.
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