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.
