04:01:31 EST Wed 12 Feb 2025
Enter Symbol
or Name
USA
CA



EnWave Corp
Symbol ENW
Shares Issued 110,805,055
Close 2024-05-22 C$ 0.26
Market Cap C$ 28,809,314
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EnWave signs equipment purchase deal with partner

2024-05-22 12:40 ET - News Release

Mr. Brent Charleton reports

ENWAVE SIGNS EQUIPMENT PURCHASE AGREEMENT WITH ROYALTY PARTNER FOR 120KW REV MACHINERY

EnWave Corp. has signed an equipment purchase 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 toward the acquisition of a 120-kilowatt REV (radiant energy vacuum) 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 120-kilowatt 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 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 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 improving product taste, texture, colour and nutritional value.

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