EnWave Corporation (CVE:ENW) (OTCPINK:NWVCF) has signed a technology evaluation and license option agreement with Blackhawk Growth Corp’s (CSE:BLR) (OTCMKTS:BLRZF) investee company NuWave Foods Inc which give it full access to EnWave’s food scientists for product development and to evaluate potential commercial use of its Radiant Energy Vacuum (REV) dehydration technology.
During the term of the agreement, NuWave will rent a 10 kiloWatt REV machine from EnWave for intensive product development at its facility in Edmonton. NuWave has also been granted an exclusive option to license REV technology in Canada and the US 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 REV machines are expected to arrive at NuWave’s Edmonton facility in "the coming weeks."
In a statement, Blackhawk CEO Frederick Pels described the development as a “huge leap forward" for NuWave Foods as access to EnWave’s equipment for dehydrating baked treats will allow NuWave to “rapidly expand” its product line through collaborative product development.
“We couldn't be more excited to be working with the amazing team at EnWave, and the timing of this agreement could not be more important. Amid the growing threat of COVID-19, people all over North America have been scrambling to stock their pantries with limited options available. NuWave is positioned to bring high quality, shelf-stable baked goods to the marketplace at a time when it's needed the most,” he added.
The Blackhawk boss said the technology would allow 51%-owned NuWave Foods to keep its goods “preservative-free” and get it to the market quickly.
“We look forward to growing with NuWave as they create products designed for the world's rapidly changing needs," he added.
Radiant Energy Vacum dehydration is a rapid, low-temperature drying method that maintains the product’s colour, flavour, and nutrients during the drying process.
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.
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