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EnWave signs technology and licensing deal with Eastern European fruit company

The agreement sees the two companies evaluate Radiant Energy Vacuum’s ability to produce premium dehydrated fruits and vegetable products

EnWave Corp -
REV dehydration is a rapid, low-temperature drying method that maintains the product’s colour, flavour, and nutrients during the drying process

EnWave Corporation (CVE:ENW) (OTCPINK:NWVCF) signed a new agreement with an Eastern European fruit company to gauge the potential commercial use of its proprietary dehydration technology.

The Vancouver-based company announced the technology and license option agreement on Monday that will see the two companies evaluate the Radiant Energy Vacuum’s (REV) capacity to produce premium dehydrated fruits and vegetable products.

If successful, the trial could lead to REV being deployed in several countries throughout Europe, according to EnWave, which called it a “promising opportunity” to leverage the technology.

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

EnWave’s partner will pay a monthly evaluation fee and has the non-exclusive option to license REV technology for use in European countries.

According to EnWave, the partner plans to commercialize new snack, ingredient and grocery products throughout its Eastern and Central European distribution channels. The trial may lead to a royalty-bearing license agreement with EnWave’s partner and a commitment to purchase large-scale REV machinery.

The new agreement follows several similar deals that EnWave has signed with food production partners around the world, including a nearly identical deal with a South American food company in April.

REV dehydration is a rapid, low-temperature drying method that maintains the product’s colour, flavour, and nutrients during the drying process.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: EnWave Corp

Price: 0.81 CAD

TSX-V:ENW
Market: TSX-V
Market Cap: $90.24 m
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