Canadian Manufacturing

EnWave signs equipment purchase agreement with an existing royalty partner for machinery

by CM Staff   

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The Royalty Partner is actively commercializing its own branded snack products, as well as working with several major consumer packaged goods companies to develop and co-manufacture a number of new snack and ingredient products.

VANCOUVER — EnWave Corporation announced that it has signed an Equipment Purchase Agreement with an existing Royalty Partner that has licensed the Company’s patented Radiant Energy Vacuum dehydration technology. Pursuant to the Agreement, EnWave has received a non-refundable deposit from the Royalty Partner towards the acquisition of a 120kW REV® dehydration machine that is intended for start-up in 2024.

The Royalty Partner is actively commercializing its own branded snack products, as well as working with several major consumer packaged goods companies to develop and co-manufacture a number of new snack and ingredient products. If these co-manufacturing opportunities are confirmed, the Royalty Partner expects to fully utilize the manufacturing capacity of this 120kW REV® machine within the first year of operation.

EnWave says they are well advanced on a number of similar opportunities to prospectively confirm additional large-scale REV® machine sales this fiscal year.

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