EnWave signs license option with SunRhize Foods and reserves manufacturing capacity
The Agreement also grants SunRhize the exclusive right to license EnWave’s patented Radiant Energy Vacuum technology.
VANCOUVER — EnWave Corporation announced on Jan. 11 that SunRhize Foods, Inc. has signed a Technology Evaluation and License Option Agreement to further develop and refine novel, shelf-stable tempeh snacks following a series of successful product development trials completed at EnWave’s Pilot Plant facility.
During the term of the Agreement, SunRhize Foods will collaborate with EnWave’s team to finalize multiple commercially viable tempeh snack formats and intends to leverage REVworx™, EnWave’s toll manufacturing division slated for commissioning in 2021. Pursuant to the Agreement, SunRhize has the right to reserve up to 15% of EnWave’s REVworx™ capacity before March 31, 2021 to commercialize the tempeh snacks.
The Agreement also grants SunRhize the exclusive right to license EnWave’s patented Radiant Energy Vacuum technology for the production of dried tempeh products in the Netherlands, Belgium and Indonesia. SunRhize will pay EnWave an undisclosed fee to reserve the exclusive license option rights and as a fee for product development support.
EnWave’s REVworx™ toll manufacturing division is for companies seeking third-party production to launch REV™ dried products into the marketplace. This is the first large-scale REV™ processing facility in North America exclusively offering toll drying services. REVworx™ will offer flexible production capabilities, filling the demand for consumer products made using EnWave’s proprietary technology.
REVworx™ will reduce the risk for companies looking to develop and launch innovative REV™ dried products into the marketplace by reducing upfront capital investment, increasing speed to market and allowing companies to launch products to prove out the value proposition of using REV™ technology.