leadf
logo-loader
viewEnWave Corp

EnWave inks technology evaluation deal with Blackhawk’s investee company NuWave Foods

The Alberta-based baked goods maker will have the option to license EnWave’s scalable REV vacuum-microwave technology for making donuts and fritters

EnWave Corp - EnWave inks technology evaluation deal with Blackhawk’s investee company NuWave Foods
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 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."

READ: EnWave inks technology evaluation deal with South American food company

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.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Quick facts: EnWave Corp

Price: 0.86 CAD

TSX-V:ENW
Market: TSX-V
Market Cap: $95.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of EnWave Corp named herein, including the promotion by the Company of EnWave Corp in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Enwave Corporation announces technology and development deal...

Enwave Corporation (CVE: ENW) President and CEO Brent Charleton joined Steve Darling from Proactive Vancouver with news the company has signed a deal with a pharmaceutical company GEA Group  Charleton explains how this deal will work and also some development of the design and...

on 24/1/20

2 min read