EnWave signs equipment purchase agreement with Fresh

0

VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V: ENW | FSE: E4U) (“EnWave” or the “Company”) today announced that it has received a purchase order for a 10 kW Radiant Energy Vacuum Machine (“REV™”) (the “REV™ Equipment”) from Consulting Fresh Business SL (“Fresh Business”) to accelerating the development of the food, nutraceutical, and cosmetics industry in Spain using EnWave technology. EnWave previously signed a research and development license agreement (the “R&D License”) with Fresh Business on January 13, 2021, at which time a non-refundable deposit was paid to EnWave for the REV™ equipment. Fresh Business awarded the R&D license to a newly created subsidiary, NEOREV INNOVATION SL (“NEOREV”), and finalized the purchase of REV™ equipment to accelerate the research and development of new products in collaboration with industrial partners in Spain.

Fresh Business dba NEOREV intends to forge close partnerships with technology hubs and innovation centers based in Spain to leverage EnWave’s patented REV™ technology for the development of new business opportunities. The installation of REV™ equipment in Spain will enable industry innovators to accelerate the commercialization of cutting-edge high-end applications using EnWave technology. Fresh Business intends to partner with select technology centers that will provide research and development services to demonstrate the value proposition of REV™ technology. Fresh Business plans to complete the installation of REV™ equipment at a technology innovation center in Spain in the coming months, which will increase the visibility of REV™ technology among potential new EnWave partners and serve other European hub for proof of concept testing on new product applications.

Fresh Business dba NXTDRIED (nxtdried.com) currently holds a royalty-based business license agreement to produce a broad portfolio of food products in Peru. EnWave commissioned a 100kW REV™ machine and a 10kW REV™ machine at NXTDRIDE’s Peruvian facilities in late 2020. using the REV™ low temperature dehydration process to turn them into nutritious, organic, super crunchy snacks and ingredients with simply amazing results.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/461ac817-ea66-40a1-803e-65fda0d8760e

About Fresh Business

Fresh Business is a food consulting organization specializing in innovative food technology solutions with three offices in three major food hubs around the world. Fresh Business focuses on connecting creativity, knowledge, technology and marketing to serve innovative food businesses. Fresh Business offers innovative products and business models for the international market, design, development and marketing of innovative food products, consultancy and long-term partnership for business development.

Learn more about Fresh Business at freshbusiness.es

About EnWave

EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative and proprietary method for the precise dehydration of cannabis edibles and applications. The company has developed patented methods to evenly dry and decontaminate cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products. EnWave also holds a strong intellectual property portfolio protecting several unique processes related to specific food applications produced using vacuum microwave technology.

The commercial viability of the REV™ technology has been demonstrated and is growing rapidly in multiple vertical markets in the food and pharmaceutical sectors, including legal cannabis. EnWave’s strategy is to sign royalty-based commercial licenses with innovative and disruptive companies in multiple verticals to use REV™ technology. The company has signed more than fifty licenses to date spanning twenty countries and five continents. In addition to these licenses, EnWave has established a limited liability company, NutraDried Food Company, LLC, to manufacture, market and sell REV™ dried snacks in North America, including Moon Cheese.® brand, as well as co-manufacturing for third parties.

EnWave introduced REV™ as a disruptive dehydration platform in the food and cannabis industries: faster and cheaper than freeze-drying, with better end-product quality than air-drying or fan-drying. spray. EnWave currently offers two distinct commercial REV™ platforms:

  1. nutraTOWER® which is a drum-based system that dehydrates organic materials quickly and at low cost, while maintaining high levels of nutrition, taste, texture and color; and,
  2. quantumTOWER® which is a tray-based system used for continuous high-volume, low-temperature drying.

EnWave is also active in the pharmaceutical industry through a joint development agreement with GEA Lyophil, a leader in GMP drying machines.

More information about EnWave is available at enwave.net.

EnWave Corporation

Mr. Brent Charleton, CFA
President and CEO

For more information:

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

Dan Henriques, CFO at +1 (604) 835-5212
Email: [email protected]

Safe Harbor 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 regarding the future, including statements about the company’s growth strategy, product development, market position, planned expenses and expected synergies after closing are forward-looking statements. Any third-party statements mentioned in this press release are not guaranteed to be accurate. Any 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 guarantees 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, other factors may 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Share.

Comments are closed.