EnWave Signs Technology Evaluation and License Option Agreement with Moleciwl Cyf

VANCOUVER, British Columbia, Aug. 16, 2023 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a Technology Evaluation and License Option Agreement (the “Agreement”) with Moleciwl Cyf, a Welsh toll-manufacturing start-up that will provide value-added processing and drying services to fruit and vegetable growers across the United Kingdom.

During the term of the Agreement, Moleciwl Cyf will lease a pilot-scale vacuum-microwave machine to facilitate in-house product development, and market-testing for domestically-grown dried fruit and vegetable products destined for snack and ingredient applications. If the technology evaluation is successful, the Agreement provides Moleciwl Cyf with the right to license EnWave’s Radiant Energy Vacuum (“REV™”) technology, the Company’s proprietary vacuum-microwave platform, to process fruit and vegetable products in Wales.

EnWave has licensed its technology to more than fifty companies globally, with many licensed partners successfully using REV™ drying machinery to produce high-quality fruit and vegetable products. REV™ technology enables controlled, homogeneous, low-temperature removal of moisture from food materials, allowing for high retention of nutrients, natural flavor, bright color and the creation of unique textures.

About Moleciwl Cyf
Moleciwl Cyf is a Welsh start-up focused on producing dried fruit and vegetable snacks and ingredients sourced from the United Kingdom region. The primary business model is to offer contract drying service for the many growers in the region that are seeking value-added formats for marketing their produce. The company has a distinct focus on upcycling produce into value-added ingredients with a mission to reduce food waste in the region. Moleciwl Cyf is working closely with the Welsh government to support various government initiatives surrounding the country’s agrifood industry, including food waste reduction, food security, upcycling, and job creation.

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-six 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 benefit 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, CFA
President and CEO

For further information:

Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: [email protected]       

Dylan Murray, CFO at +1 (778) 870-0729
E-mail: [email protected]

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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