02:23:53 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



EnWave Corp
Symbol ENW
Shares Issued 110,805,055
Close 2024-04-02 C$ 0.28
Market Cap C$ 31,025,415
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EnWave signs tech evaluation deal with food company

2024-04-02 13:43 ET - News Release

Mr. Brent Charleton reports

ENWAVE SIGNS TECHNOLOGY EVALUATION AND LICENSE OPTION AGREEMENT WITH FOOD COMPANY LED BY MICHELIN STAR CHEF

EnWave Corp. has signed a technology evaluation and licence option agreement with a North American food company led by a renowned chef with multiple Michelin stars. The food company trialled EnWave's radiant energy vacuum (REV) dehydration technology at the company's innovation centre located in Delta, Canada, prior to committing to this next phase of testing.

The food company will rent a pilot-scale REV machine for use at its own facility to expedite the development of bespoke culinary creations that align with the vision of its Michelin star chef-owner. If successful, EnWave will potentially support larger-scale production of REV-dried products for the food company at its REVworx toll drying facility or help facilitate a co-manufacturing relationship with another licensed royalty partner within EnWave's network. The rental period for the pilot-scale REV machinery is a minimum of three months.

About EnWave Corp.

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 50 royalty-generating partners spanning 23 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 licences with food producers that want to dry better, faster and more economically 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, colour and nutritional value.

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