EnWave Signs Licensing Agreement with U.S. Snack Company
EnWave Corporation (TSX-V:ENW | FSE:E4U) has announced a significant development, unveiling a new licensing agreement with a U.S. snack company. This collaboration is focused on the creation of ultra-healthy, tasty snacks that incorporate fruits and vegetables. The licensee has recently confirmed their product as potentially the "healthiest salty snack ever produced," an exciting claim that adds to the growing trend of health-conscious snacking.
Production and Product Launch Timeline
Over the past several months, EnWave has worked closely with the licensee to optimize their drying processes, leading to the purchase of a 10kW Radiant Energy Vacuum (REV™) dehydration machine. This advanced machinery is set to enhance the production capabilities of the licensee, with installation planned at a significant third-party manufacturing partner in Mexico by the end of the current year.
The licensee anticipates launching their new REV™-dried snacks in Mexico within the first quarter of the upcoming year, followed by an expansion into the U.S. market projected for the year after.
Commercial License Agreement Insights
According to the terms of the commercial license, the licensee has obtained global rights to manufacture their unique fruit and vegetable snack products, contingent upon meeting predefined annual royalty requirements. This non-exclusive arrangement permits the licensee to market multiple snack products under their brand, signifying a robust opportunity for innovation within the healthy snack segment.
Details about the licensee and their products will be provided as the official launch approaches, highlighting the anticipation surrounding these new snack offerings.
About EnWave Corporation
EnWave is at the forefront of vacuum microwave dehydration technologies. Based in Delta, British Columbia, the company has carved out a significant niche in the food, pharmaceutical, and cannabis industries by developing its patented Radiant Energy Vacuum (REV™) technology. This innovative method stands out for its efficiency, product quality, and cost-effectiveness, making it a preferred choice for many producers.
With over fifty partners across twenty-four countries on five continents, EnWave empowers its licensees to create innovative snacks and ingredients while enhancing their existing products. The company’s technology enables producers to minimize drying times, achieving optimal moisture levels significantly faster than traditional methods such as freeze drying or air drying. Ultimately, this leads to improved taste, texture, color, and overall nutritional benefits of the products.
Contact Information
For further inquiries, contact:
Mr. Brent Charleton, CFA
President and CEO
Phone: +1 (778) 378-9616
Email: bcharleton@enwave.net
Dylan Murray, CPA, CA
CFO
Phone: +1 (778) 870-0729
Email: dmurray@enwave.net
Frequently Asked Questions
What is the partnership between EnWave and the U.S. company?
The partnership is based on a commercial license agreement for producing healthy snacks using EnWave's innovative dehydration technology.
When will the new snacks be launched?
The licensee plans to launch its new snacks in Mexico in the first quarter of the upcoming year, aiming for U.S. expansion in the following year.
What technology is being used in this partnership?
EnWave is employing its Radiant Energy Vacuum (REV™) technology, which enhances the efficiency and quality of the dehydration process for snacks.
What is unique about the licensee's product claim?
The licensee claims that their snacks will be the healthiest salty snacks on the market, which aligns with ongoing consumer trends for healthier snacking options.
How does EnWave support its partners?
EnWave provides licensed partners with patented technology, machinery, and expert guidance, enabling them to innovate and improve their products.
