EnWave Signs Technology Evaluation and License Option Agreement with NuWave Foods Inc. to Develop Shelf-Stable Baked Goods
VANCOUVER, British Columbia, May 14, 2020 (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 a Canadian food company NuWave Foods Inc. (“NuWave”) to evaluate the potential commercial use of the Company’s Radiant Energy Vacuum (“REV™”) dehydration technology. NuWave operates a fully licensed commercial kitchen and bakery operation in Edmonton, Alberta, and is focused on the development of new and innovative shelf-stable donut and fritter products.
During the term of the Agreement, NuWave will rent a 10kW REV™ machine for intensive product development at its facility in Edmonton. NuWave has been granted an exclusive option to license REV™ technology in Canada and the U.S. for shelf-stable donut and fritter products. If commercially viable products are developed under the Agreement, NuWave will potentially purchase REV™ machinery to commence commercial production at its facility in Edmonton.EnWave’s proprietary dehydration technology has broad applications in the processing of innovative food products. REV™ technology enables baked goods processors to produce shelf-stable baked goods without using added preservatives, eliminating cold-storage and elongating product life. EnWave holds a robust intellectual property portfolio spanning numerous international markets and has licensed REV™ technology to more than thirty food companies in over sixteen countries worldwide.About NuWave Foods Inc.
NuWave is a 51% owned subsidiary of Blackhawk Growth Corp. (CSE:BLR). NuWave is a fully licensed commercial kitchen and baked goods manufacturer located in Edmonton, Alberta. NuWave is focused on the development and commercialization of shelf-stable baked products, without the use of any preservatives. NuWave was formed as a joint partnership between a group of like-minded professionals seeking to leverage their considerable contacts in North America’s food industry to rapidly become a leader in the rapidly changing space. NuWave seeks to leverage innovative food technologies to introduce new food products into the North American market.About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed a Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products. REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with innovative, disruptive companies in multiple verticals for the use of REV™ technology. The company has signed over thirty royalty-bearing licenses to date. In addition to these licenses, EnWave established a Limited Liability Corporation, NutraDried Food Company, LLC, to manufacture, market and sell all-natural dairy snack products in the United States, including the Moon Cheese® brand. EnWave has introduced REV™ as a disruptive dehydration platform in the food and cannabis sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently offers two distinct commercial REV™ platforms:nutraREV® which is a drum-based system that dehydrates organic materials quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour; and,quantaREV® which is a tray-based system used for continuous, high-volume low-temperature drying.More information about EnWave is available at www.enwave.net.
Mr. Brent Charleton, CFA
President and CEOFor further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
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