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EnWave receives second REV equipment order from Amazeballs snack maker Ashgrove Cheese

Ashgrove licensed REV from EnWave in May 2017 to use the technology to process dried snack cheese products to distribute in Australia

EnWave Corp
EnWave is the maker of the 10kW Radiant Energy Vacuum dehydration technology

EnWave Corporation (CVE:ENW) has received a second equipment purchase order from Australian cheese producer Ashgrove Cheese Ltd Pty after its Amazeballs cheese snack proved a hot seller down under.

Vancouver-based EnWave is the maker of the 10kW Radiant Energy Vacuum (REV) dehydration technology that is currently used in the food, agriculture and cannabis industries.

Ashgrove licensed REV from EnWave in May 2017 to use the technology to process dried snack cheese products to distribute in Australia. In return for exclusivity rights, Ashgrove pays a 5% royalty on the wholesale price of all REV-dried products sold.

READ: EnWave posts all-time high quarterly revenue driven by cannabis dehydration and Moon Cheese

According to a release, the successful development and launch of Amazeballs spurred Ashgrove to order a second unit. Amazeballs is available across Australian grocery stores in six different flavours.

The Ashgrove milk and cheese factory is located at Elizabeth Town in northern Tasmania, the centre of the state’s dairying and cropping region. 

EnWave recently posted quarterly results showing revenue at an all-time high of C$10 million thanks attributed to an increase in REV orders.

Shares of EnWave traded at C$2.25 on Thursday morning in Toronto.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 1.59 CAD

TSX-V:ENW
Market: TSX-V
Market Cap: $176.23 m
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