VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) announced today that it has signed a license agreement (the “License”), equipment purchase agreement (the “Equipment Purchase”) and a referral agreement (the “Referral Agreement”) with CNTA, the Spanish National Centre for Food Technology and Safety. CNTA is a private non-profit association that aims to contribute towards improving the competitiveness and quality of the Spanish food sector.
The license grants the R&D rights to CNTA to use EnWave’s proprietary Radiant Energy Vacuum (“REV™”) dehydration technology in collaboration with their many current and future clients. The Equipment Purchase made by CNTA is for a 10kW REV™ machine that will showcase their state-of-the-art facility with the value proposition of REV™ technology.
EnWave believes that this holistic relationship will help build its sales pipeline in Spain and surrounding European markets. The 10kW REV™ machinery is expected to be delivered to CNTA before 2025.
About CNTA
Companies in the agri-food industry face the great challenge of jumping on the bandwagon of a transformation that is already happening. CNTA wants to be with them, providing a new look from the present and the future, and energizing this transformation with technology as a vehicle tool.
CNTA is a technology centre that has been adapting to the continuous demands that the agri-food industry has been encountering for more than 40 years. Its mission is to improve the competitiveness of our companies, working side by side with them, in order to achieve more sustainable, healthier, safer and more accessible food. More than 500 companies are already part of CNTA’s community of associates and more than 250 professionals work in it.
CNTA creates, inspires and accompanies agri-food companies by researching, developing and transferring technology and knowledge through its services, projects and programmes.
Working from six different workplaces, the centre reaches the entire national territory while maintaining the purpose of transforming the future of food. CNTA focuses on the real impact that technological innovation can have on the agri-food industry and, therefore, on society.
For more information regarding CNTA, please visit www.cnta.es.
About EnWave
EnWave is a global leader in the innovation and application of vacuum microwave dehydration. From its headquarters in Delta, BC, EnWave has developed a robust intellectual property portfolio, perfected its Radiant Energy Vacuum (REV™) technology, and transformed an innovative idea into a proven, consistent, and scalable drying solution for the food, pharmaceutical and cannabis industries that vastly outperforms traditional drying methods in efficiency, capacity, product quality, and cost.
With more than fifty royalty-generating partners spanning twenty-three countries and five continents, EnWave’s licensed partners are creating profitable, never-before-seen snacks and ingredients, improving the quality and consistency of their existing offerings, running leaner and getting to market faster with the company’s patented technology, licensed machinery, and expert guidance.
EnWave’s strategy is to sign royalty-bearing commercial licenses with food producers who want to dry better, faster and more economical than freeze drying, rack drying and air drying, and enjoy the following benefits of producing exciting new products, reaching optimal moisture levels up to seven times faster, and improve product taste, texture, color and nutritional value.
Learn more at EnWave.net.
EnWave Corporation
Mr. Brent Charleton, CFA
President and CEO
For further information:
Brent Charleton, CFA, President and CEO at +1 (778) 378-9616
E-mail: [email protected]
Dylan Murray, CPA, CA, CFO at +1 (778) 870-0729
E-mail: [email protected]
Safe Harbour for Forward-Looking Information Statements: This press release may contain forward-looking information based on management’s expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, product development, market position, expected expenditures, and the expected synergies following the closing are forward-looking statements. All third-party claims referred to in this release are not guaranteed to be accurate. All third-party references to market information in this release are not guaranteed to be accurate as the Company did not conduct the original primary research. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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