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EnWave inks technology evaluation deal with South American food company

The food company will pay a monthly fee to evaluate EnWave's dehydration technology

EnWave Corp dehydration machine
EnWave prides itself on offering the most scalable and reliable proprietary vacuum-microwave technology

EnWave Corporation (CVE:ENW) (OTCPINK:NWVCF) has signed a technology evaluation and license option agreement with a food company based in South America to evaluate potential commercial use of its Radiant Energy Vacuum (REV) dehydration technology. 

The unnamed food company will pay a monthly evaluation fee and have the exclusive option to obtain a royalty-bearing commercial license agreement to use REV technology in the production of food products. 

EnWave will lease the company a 10 kilowatt REV machine for use at its research and development facility during the term of the deal to conduct product development alongside EnWave’s food scientists.

READ: EnWave bolsters intellectual property portfolio with nine patent approvals around the world

If the food company successfully develops products using REV begins commercial sales, it will leverage EnWave’s dehydration expertise and its own established brand awareness in multiple Latin American countries. 

Vancouver-based EnWave prides itself on offering the most scalable and reliable proprietary vacuum-microwave technology with the most comprehensive set of innovations and solutions available, which accelerates product and process development and unlocks value for its global partners.

The company is developing commercial applications for its REV dehydration technology in the cannabis, food and pharmaceutical industries.

Shares in Toronto added 5.8% to C$0.72.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: EnWave Corp

Price: 1.02 CAD

TSX-V:ENW
Market: TSX-V
Market Cap: $113.64 m
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