Mr. John Budreski reports
ENWAVE SIGNS COMMERCIAL ROYALTY BEARING LICENSE WITH PERDUE FARMS INCORPORATED, RECEIVES PURCHASE ORDER
EnWave Corp. has signed a commercial royalty-bearing licence with Perdue Foods LLC following a successful research and development program using EnWave's technology. The licence grants Perdue the exclusive right to use the company's Radiant Energy Vacuum (REV) dehydration technology to process pet food and pet treats in the United States and Canada. Perdue is to pay EnWave a quarterly royalty based on the sales of pet food and pet treats according to the terms of the licence. Perdue has issued a purchase order and deposit for the purchase of a small commercial REV machine to conduct product optimization and regional market trials. In order to retain exclusivity, Perdue is required to purchase a REV machine that is 100 kilowatts or larger from EnWave within a specified time frame from receipt of the small commercial REV machine. This licence represents the second royalty-bearing agreement signed by EnWave with a major meat-processing company, and its first in the pet food market vertical. EnWave is actively engaged in research and development with several other major meat-processing companies that span Europe, North America, South America and Australasia.
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